MONEY MASTER

Shares of  BYD Co Ltd (HKG:1211)  fell sharply on Friday after China’s top electric vehicle (EV) maker reported a  33% drop in third-quarter net profit  and weaker-than-expected revenue, underscoring the challenges even the industry leader faces in a highly competitive market. Earnings Miss Triggers Stock Selloff BYD’s Hong Kong-listed shares  tumbled as much as 6.4%  in early trading following the results released late Thursday. Net income:  7.82 billion yuan (US$1.1 billion), down  33% YoY Revenue:  194.98 billion yuan, down  3% YoY  and missing analyst forecasts of 216 billion yuan Gross margin:  17.6%, down from 21.9% a year ago but up from 16.3% in Q2 “Neutral to slightly negative” reactions are expected, according to  Morgan Stanley , which estimated vehicle-unit profit at  6,100 yuan , below its 6,500 yuan projection. Losing Momentum in China’s Price War Once the undisputed market leader, BYD is now  losin...

Forecast Cut on Softer Price Trends CGS International has revised Malaysia’s  2025 inflation forecast to 1.6% , down from its earlier 2% projection. The adjustment follows August’s  1.3% year-on-year CPI increase , which was in line with expectations. Limited Impact from Fuel Price Adjustment The brokerage expects muted price pressure from the  RON95 fuel price adjustment effective September 30 , given the generous  300-litre monthly quota per consumer . While this limits the inflation impact for households, CGS noted that  businesses and high-volume fuel users may face higher costs  if excluded from subsidy reforms. The firm estimates that partial fuel-cost pass-through could add  5–10 basis points to the CPI in October . Consumer Offset Expected On the upside, consumers benefiting from the new  RON95 pump price of RM1.99 per litre  could provide a larger offset, easing overall inflationary pressures. CGS highlighted that this downward effec...

Deflationary pressure in China, which has already pushed down prices of cars and fast food, is now reshaping the country’s  US$38 billion medical aesthetics market . So-Young Pushes Prices to Record Lows So-Young International Inc has launched 33 clinics across major cities, offering chemical peels for 149 yuan (US$21) and skin boosters for 399 yuan. The company says there is further room to cut costs, moving closer to South Korea — the benchmark for affordable cosmetic treatments. Average spending per customer at So-Young clinics is about 2,000 yuan, far below the sector average of 6,500 yuan, according to CEO Xing Jin. “As prices approach Korean levels, convenience will keep more consumers at home for treatments,” he said. Rising Competition from E-Commerce Players The push could ignite a broader price war. JD.com Inc has already opened two cosmetic clinics in Beijing, undercutting rivals on certain procedures. Internet platforms such as Meituan and Douyin are also expanding into...

China’s effort to cool down the  electric vehicle (EV) price war  is seeing little success, as major automakers continue offering steep discounts to lure buyers in an overcrowded and cautious market. Discounts Remain Widespread All of China’s  top 20 auto brands  either maintained, deepened, or only slightly reduced discounts in July, according to China Auto Market data. Seven brands  increased promotions despite Beijing’s June warning against “rat-race competition.” Overall promotions in July were  higher than a year earlier , showing muted response to government pressure. Why It’s Hard to Control Prices Analysts note that carmakers are unlikely to slash sticker prices directly, but will continue offering  indirect perks , such as: Interest-free financing Complimentary home chargers Cabin upgrades (premium seats, connectivity perks) Average sale prices keep drifting lower as buyers favor cheaper models: BYD:  114,760 yuan (July) vs 116,200 yuan (...

China's leading solar exporters, including   Trina Solar ,   LONGi Green Energy , and   Tongwei , have pledged to halt   undercutting prices   in overseas markets. The move comes as the industry faces severe challenges from a   supply glut ,   price wars , and growing risks of   protectionist measures   in key export destinations like the   EU, India, Pakistan, and Brazil . Key Developments Industry Collaboration : A  "self-discipline" committee  of  22 solar companies  was formed under the  China Chamber of Commerce for Import and Export of Machinery and Electronic Products  to promote  healthy competition  and stabilize exports. Policy Shift : Effective  Dec. 1 , the  export levy rebate  for  wafers, cells, and modules  will decrease from  13% to 9% , aiming to encourage the export of  high-value-added products  and mitigate risks of  anti-dumping inve...