HONG KONG: Shares in BYD Co Ltd, a Chinese auto and battery maker backed by US billionaire Warren Buffett, plummeted more than 13% to a near 2-year low yesterday after the company warned it could post a third-quarter loss, triggering a raft of analyst downgrades.

BYD warned late on Monday that its net profit for the first three quarters might fall between 85% and 95% due to fierce competition in China, the world's largest auto market. Reuters

Source:biz.thestar