BYD Executives Signal Confidence with Major Share Purchases

A significant show of confidence has emerged from the upper echelons of Chinese electric vehicle manufacturer BYD. Dozens of company executives have collectively purchased approximately 52.3 million yuan ($7.3 million) worth of shares, a notable move during a period of market pressure for the automaker. The transactions, disclosed on Thursday, follow a substantial decline in the company’s share price from its annual peak.

Between September 1st and 9th, a total of 37 senior managers participated in this coordinated buying activity. The group included five vice presidents, among them Chief Financial Officer Zhou Yalin, who collectively invested 23.6 million yuan to acquire 221,800 shares. An additional 32 executives purchased 266,400 shares for 28.7 million yuan.

In total, these transactions involved 488,200 A-shares, increasing the collective ownership stake of this management... Read more...