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Electric car maker BYD's profits up 14.3% as mask-making pays off

BEIJING, Aug 28 (Reuters) - Chinese electric car maker BYD Co Ltd posted a 14.3% rise in first-half profit on Friday, benefitting from making surgical masks during the COVID-19 pandemic.

The Shenzhen-based company, which is backed by U.S. investor Warren Buffett and whose products include battery electric and plug-in hybrid vehicles, posted net profit of 1.66 billion yuan ($241.80 million), up from 1.45 billion yuan in the same period a year earlier, beating analysts’ estimate of 1.63 billion yuan on Refinitiv.

$1 = 6.8652 Chinese yuan renminbi Reporting by Yilei Sun and Brenda Goh; Editing by Kirsten Donovan

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