- BYD executives bought about RMB 52.3 million ($7.3 million) worth of BYD A-shares on the Shenzhen stock exchange this month.
- BYD said this action reflects their confidence in the company’s future development and recognition of its value.
BYD (HKG: 1211, OTCMKTS: BYDDY) executives have increased their holdings in the company to demonstrate their confidence following months of declining stock prices.
BYD executives, including several vice presidents, purchased BYD A-shares on the Shenzhen stock exchange this month, totaling about RMB 52.3 million ($7.3 million), according to an announcement yesterday.
Specifically, BYD senior vice president Luo Hongbin, senior vice president and CFO Zhou Yalin, senior vice president Yang Dongsheng, vice president Luo Zhongliang, and vice president Li Wei collectively purchased 221,800 shares through centralized trading on the Shenzhen stock exchange between September 1 and 9, totaling RMB 23,624,192.00.
Additionally, 32 other core personnel recently increased their holdings of BYD’s A-shares by a combined 266,400 shares through the same method, totaling RMB 28,703,624.00.
Collectively, they increased their holdings of BYD’s A-shares by 488,200 shares, totaling RMB 52,327,816.00.
Following this increase, their combined stake in BYD rose from 0.0215 percent to 0.0269 percent.
BYD said this action reflects their confidence in the company’s future development, recognition of its value, and continued optimism regarding the long-term investment potential of China’s capital markets.
BYD’s stock price has seen a significant decline in recent months as new energy vehicle (NEV) sales growth has slowed.
Since May 23, the company’s shares traded in Shenzhen have fallen by about 20 percent.
BYD’s stock price showed muted performance in both Shenzhen and Hong Kong today, remaining largely unchanged at press time.
($1 = RMB 7.1212)
