Held for 14 years and returned more than 30 times, Buffett sold BYD shares for the first time
CTOnews.com, Aug. 30, Berkshire Hathaway sold 1.33 million BYD H shares on August 24 at an average price of HK $277.1 per share, cashing out HK $369 million, reducing its stake in BYD to 19.92%.
It is worth mentioning that 225 million shares of BYD were transferred to Citibank on July 11, according to Hong Kong Stock Exchange CCASS data. The market is aimed at Berkshire, which is owned by Buffett, because Buffett has held 225 million shares since 2008, which is exactly the same as the turnover quota.
In response to this, BYD replied that according to the relevant rules of the Hong Kong Stock Exchange and the Securities and Futures Commission, major shareholders need to declare their interests and consult the Hong Kong Stock Exchange's rights and interests disclosure platform, which does not show information about the reduction, and the declaration of shareholders' rights and interests shall prevail. At present, everything in the company is normal, various businesses are being carried out in an orderly manner, and the sales of new energy vehicles continue to hit an all-time high.
CTOnews.com learned that in September 2008, Buffett bought 225 million BYD shares for HK $8 a share for a total price of US $1.8 billion, accounting for 9.89 per cent of the expanded share capital. Fourteen years on, Buffett has made a profit of more than 30 times by buying BYD at today's closing price of HK $263.
On the evening of August 29, BYD released its semi-annual report of 2022, showing that BYD achieved operating income of 150.607 billion yuan in the first half of the year, an increase of 65.71 percent over the same period last year, and net profit of 3.595 billion yuan, an increase of 206.35 percent over the same period last year. It is worth noting that BYD earned more money in the first half of 2022 than in the whole of 2021. In 2021, BYD achieved a net profit of 3.045 billion yuan, down 28.08% from the same period last year.
