Hong Kong - Chinese auto and battery maker BYD says half-year profit soared as sales in the world's biggest car market recovered.
BYD said Sunday that profits started growing again in the January-June period after falling sharply the year before as competition among automakers intensified.
US billionaire investor Warren Buffett owns about 10 percent of BYD.
BYD said profit rose to 427 million yuan ($70 million), 26 times higher than the year-ago period as revenue climbed 13 percent to 24.2 billion yuan.
Auto sales rose by 25 percent to 250,000 vehicles, faster than the rate of sales growth in the broader China auto market.
The company forecasts lower profit in the third quarter, the weakest part of the year for auto sales.
Revenue from the battery and telephone handset divisions also rose. - Sapa-AP