The insider buying comes after reports of BYD trimming its 2025 sales target and its first quarterly profit drop in more than three years.
BYD executives boosted their holdings this month in a show of confidence after a sharp slide in the stock price and reports of a downgrade of the Chinese EV giant’s sales outlook.
At the time of writing, BYD shares were down 0.2% in both Shenzhen and Hong Kong.
Senior vice president Luo Hongbin, CFO Zhou Yalin, senior vice president Yang Dongsheng, vice president Luo Zhongliang and vice president Li Wei acquired a combined 221,800 A-shares between Sept. 1 and 9 through centralized trading in Shenzhen, worth about 23.6 million yuan ($3.3 million), CnEVPost reported.
Another 32 core personnel purchased 266,400 shares valued at 28.7 million yuan, bringing total insider purchases this month to 488,200 shares, or 52.3 million yuan ($7.3 million). Their combined stake rose from 0.0215% to 0.0269%.
The buying spree comes after BYD’s Shenzhen-listed shares fell around 20% since May 23 as new energy vehicle (NEV) sales growth slowed.
Last week, Reuters reported the company has trimmed its 2025 sales target by as much as 16% to 4.6 million vehicles, which would mark its slowest annual growth in five years. The revised goal, down from an initial 5.5 million in March, follows a 30% plunge in quarterly profit, marking the first drop in more than three years.
Deutsche Bank and Morningstar now estimate that BYD will sell between 4.7 and 4.8 million vehicles this year, a slight increase from the 4.3 million sold in 2024. That’s just 7% growth — the slowest pace since 2020 — and highlights how China’s car market is getting tougher, with rivals like Geely Auto and Leapmotor grabbing more share in an increasingly fierce price war.
BYD, for its part, said the recent insider buying shows management still believes in the company’s long-term value and in the strength of China’s capital markets.
On Stocktwits, retail sentiment for BYD was ‘bearish’ amid ‘low’ message volume.
BYD’s U.S.-listed stock has risen 20.2% so far in 2025.
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