BYD's net profit for the first half of 2026 fell 21% year-on-year to 12.33 billion yuan ($1.83 billion), despite a 30% quarterly rebound in Q2 to 8.25 billion yuan. Revenue declined 7.1% to 344.82 billion yuan for the half-year, with Q2 revenue at 194.59 billion yuan, down 3.2% annually. Both profit and revenue missed analyst expectations of 8.99 billion yuan profit and 216.55 billion yuan revenue.

The Shenzhen-based EV leader cited soft domestic sales due to China's price war and slowing demand, but highlighted accelerating overseas growth in Europe and Latin America as a new growth engine. Margins improved to 18.85% in the first half, up from 18.01% a year earlier, reflecting stronger international performance. BYD is shifting focus abroad to offset weakening home-market results, betting on higher-margin exports to drive its next expansion phase.

The company remains the world's top electric-vehicle seller, with overseas sales now a rising share of total volume.