BYD plans Shenzhen listing by year's end

Domestic automaker BYD has filed an application for a public listing on Shenzhen's A-share market and plans to complete the offering by the end of 2010, Wang Chuanfu, chairman of the board, said at the company's mid-year performance news conference in Hong Kong.

The company earned 2.42 billion yuan in the first half of this year, a 100 percent increase over same period in 2009.

Wang Chuanfu predicted sales will continue to increase in the last half of 2010, but at a lower rate. The company has reduced its annual sales goal from 800,000 to 600,000 units.

Source:China Daily