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BYD Targeted by Accounting Consultancy for Allegedly Masking Surging Debt Levels Through Supply Chain Financing
Bloomberg cited GMT Research, an accounting consultancy in Hong Kong, as saying that BYD COMPANY (01211.HK) is concealing its soaring debt levels by relying on operational capital ...
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BYD Targeted by Accounting Consultancy for Allegedly Masking Surging Debt Levels Through Supply Chain Financing
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Bloomberg cited GMT Research, an accounting consultancy in Hong Kong, as saying that BYD COMPANY (01211.HK)  +11.200 (+3.547%)    Short selling $932.96M; Ratio 19.069%   is concealing its soaring debt levels by relying on operational capital financing. The consultancy described BYD as seemingly addicted to supply chain financing.

GMT Research estimated that BYD's actual net debt as of the end of June 2024 should have reached RMB323 billion, significantly higher than BYD's previous forecast for its mid-2024 net debt at RMB27.7 billion.

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Nigel Stevenson, an analyst at GMT Research, explained that the aforementioned practice is clearly a form of financing or hidden debt regardless of BYD's structure.

BYD's stock price opened up 1.45% this morning (21st) and experienced a tug-of-war in the early session. It last traded at $278, up 1.09%, on a turnover of $341 million.
(HK stocks quote is delayed for at least 15 mins.Short Selling Data as at 2025-02-07 12:25.)

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