The actions of the China Byd, the largest world seller of electric vehicles, fell today more than 3 % after Berkshire Hathaway, the signing of the legendary American investor Warren Buffett, confirmed that he has sold the entire participation of the automaker.
At the time of half -session, BYD titles dropped 3.43 % in the Hong Kong bag. Berkshire Energy, The Berkshire Hathaway subsidiary that controlled byd’s shares, had estimated at zero the value of the investment in the Chinese firm at the end of the first quarter, in contrast to 415 million dollars at the end of 2024.
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A company spokesman confirmed the sale of the total participation in statements to the CNBC American television network. Berkshire entered Byd 17 years ago on recommendation from Buffett’s right hand, the late Charlie Muger, with an initial investment of about 230 million dollars; During the period in which it was part of its shareholders, the ByD titles multiplied their value almost by 40 (+3,890 %).
In the second quarter of 2022, Berkshire’s participation in Byd was encrypted at about 9,000 million dollars. In August of that same year the firm began to reduce it until, in mid -2024, It fell below the level of 5 % by which the Hongkonese parquet forced her to continue publicly informing her sales.
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According to CNBC, Buffett has not abounded in the reason for the sale of his Byd shares: in 2023, he said that it is a “Extraordinary company “directed by an” extraordinary person “, referring to its founder and president, Wang Chuanfu. “We will find things to do with the money with which I feel better,” he added.
In a message posted today on the Weibo social network -Chinese team of X, censored in the Asian country -, the Director General of Public Relations of Byd, Li Yunfei, subtracted importance from the news: “Investing in the stock exchange goes from buying and selling, it is normal!”
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“Thanks to Muger and Buffett for their recognition to Byd. Thank you, also, for investment, for help and for the company in these last 17 years. A applause for those who think in the long term!”, He wrote.
CNBC emphasizes that, simultaneously, Berkshire also got rid of an encrypted participation at 4,000 million dollars in Taiwanese TSMCthe largest world semiconductor manufacturer, after Buffett “reconsider” the geopolitical risk derived from the declared ambitions of Beijing to ‘gather’ the island with the Chinese territory.
Byd’s shares in Hong Kong accumulate a 23.4 % rise so far this year, but has dropped almost 30 % since it marked a record at the end of May after registering the first fall in the quarterly benefit in more than three years before the prolonged price war in the Chinese sector of the electric.
EFE
