BYD yesterday reported its net profit shrank 55% to CNY4.1 billion (USD598 million) and revenue fell 12% to CNY150.2 billion (USD22 billion) in the first quarter from a year earlier. Despite that, the Chinese EV giant’s shares [SHE: 002594; HKG: 1211] rose 2.3% in Shenzhen and 4.1% in Hong Kong as of 10.10 a.m. today.