text: Original by Dongchedi Xing Qiuhong
[Original by Dongchedi Industry] On September 2, the Hong Kong Stock Exchange disclosed the latest information of Yi, which showed that Buffett's Berkshire Hathaway sold 1.716 million shares of BYD shares on September 1, with an average selling price of HK$262.72 per share, and cashing out about HK$451 million.
Image source: Hong Kong Stock Exchange official website
After the reduction of holdings, Berkshire Hathaway's number of shares held by BYD dropped to 200 million shares, and the shareholding ratio was reduced from 19.02% to 18.87%.
This is not the first time Buffett reduced his holdings in BYD. On August 30, Berkshire Hathaway also reduced its holdings of 1.33 million shares of BYD's Hong Kong-listed shares, with a sale price of about HK$370 million. Its shareholding in BYD's issued H shares dropped from 20.49% to 19.92% at that time.
August 30, Buffett reduced his holdings of BYD 1.33 million shares
In response to this, BYD's investor relations department said: We only knew it after seeing the disclosure, and we didn't know it in advance. There are many statements about market connections, and I don’t know the specific real situation (reason) and don’t need to over-interpret it. In addition, the department also stated that BYD has not disclosed any major matters recently and the company's operations are normal.
The above-mentioned news of the reduction in holdings caused an uproar in the capital market. On August 31, BYD A-shares and H-shares both plunged sharply at the opening. Among them, A-shares fell by more than 8% intraday, closed down 7.36% to 287.98 yuan per share on the same day, and the total market value shrank by nearly 41.5 billion yuan; while Hong Kong stocks fell by the highest intraday, and finally closed down 7.91% to 242.20 Hong Kong dollars per share on the same day, with a total market value shrunk by nearly 22.9 billion Hong Kong dollars.
BYD Chairman and President Wang Chuanfu and Buffett
Buffett bought 225 million shares of BYD's Hong Kong stocks at a price of HK$8 per share as early as 2008, becoming one of BYD's important investors. The return on investment is as high as 38 times, and the profit is about HK$68.7 billion.
However, in July this year, Citibank's shares in BYD increased by 225 million shares. Because this amount is consistent with the shares of BYD held by Berkshire Hathaway Energy Company founded by Buffett, market participants have speculated that Buffett will reduce his holdings in BYD.
BYD Han EV
Based on the average price of the two share reductions disclosed by the Hong Kong Stock Exchange of HK$277.10 and HK$262.72 per share, Buffett's first two rounds of share reduction were 34 times and 32 times respectively. After a cumulative share reduction of 17.86 million shares, nearly HK$4.8 billion has been cashed out.
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