Buffett's rumor of 's share reduction was final, causing severe fluctuations in BYD 's stock price. On August 30, Hong Kong Stock Exchange documents showed that Berkshire Hathaway sold 1.33 million shares of BYD H shares on August 24. Based on HK$277.1016 per share, this share reduction cashed out by nearly HK$369 million, which is also the first time Buffett's holdings of BYD shares html has been reduced in 214 years. Although the share reduction ratio of
only accounts for 2.8% of Buffett's original shareholding, as a famous value investor, Buffett's every move is likely to cause market speculation. Affected by this news, BYD A shares and H shares both plummeted . On August 31, BYD Hong Kong stock fell 7.91% intraday to HK$242.2; A shares closed down 7.36% to RMB 287.98, and the total market value shrank by nearly 66.6 billion yuan.
data shows that on September 29, 2008, Buffett's Berkshire Hathaway spent US$230 million (approximately HK$1.8 billion) to subscribe to 225 million shares of BYD on the Hong Kong stock market at a price of HK$8 per share. The company's stake has not changed over the past 14 years. Based on the price of reducing holdings on August 24, Buffett's BYD stock has increased by about 33 times.
financial report shows that BYD achieved operating income of 150.607 billion yuan in the first half of the year, a year-on-year increase of 65.71%; and achieved net profit of 3.595 billion yuan, a year-on-year increase of 206.35%. Both revenue and net profit hit new highs in the same period, and net profit in the first half of the year exceeded the full-year level last year.
Buffett's share reduction has actually been a sign of it. On July 12, Hong Kong Stock Exchange documents showed that Citibank 's shares in BYD increased by 225 million shares to 388 million shares, accounting for 35.39%. Since this amount happened to be consistent with Berkshire Hathaway's shareholding, the market speculated that Buffett transferred his BYD shares to Citibank.
Buffett's first share reduction may put pressure on BYD's stock price in the short term, but the share reduction ratio this time is not high, and it should be more of a market-oriented short-term trading behavior.
(Original title: Buffett's share reduction triggered fluctuations in BYD's stock price)
Source: Beijing Daily Reporter Yang Tianyue
Process Editor: u028
Copyright Statement: The copyright of the text belongs to the Beijing News Group. Reprint or adaptation may not be made without permission.
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