BYD's Third-Quarter Earnings Report

BEIJING (Reuters) – Chinese electric vehicle maker BYD (SZ:002594) reported an 11.5% increase in third-quarter net profit on Wednesday, boosted by strong sales momentum and government trade-in incentives.

Net profit reached 11.6 billion yuan ($1.63 billion) for the July-September quarter, with revenue climbing 24% year-over-year to 201.1 billion yuan, according to the company’s stock exchange filing.

For the first nine months of the year, net profit rose 18.1% to 25.2 billion yuan.

Note: $1 = 7.1215 Chinese yuan renminbi