Jakarta, cartitleloans Indonesia
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Billionaire from the United States, Warren Buffett, officially completed investment in technology companies from China,
Byd
.This step was taken after the collaboration was quite long, reaching 17 years.
BYD officials thanked Buffett’s involvement, through his investment company, Berkshire Hathaway.
“In August 2022, Berkshire gradually reduced the ownership of the company’s shares he bought in 2008, and in June, his ownership had dropped below 5 percent,” wrote Li Yunfei, BYD executive in China’s social media upload, Weibo, quoted CNBC, Thursday (2/10).
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“Stock investment includes buying and selling activities, we are fully normal. We are grateful for the recognition of Charlie Munger and Warren Buffett to BYD, as well as for investment, support, and togetherness for the past 17 years … Respect for all,” he continued.
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The Buffett company had previously reached US $ 230 million, or equivalent to 225 million shares.That makes Buffet has 10 percent ownership of BYD shares.
In addition, Buffett has also received a profit of 20 times the capital that has been implanted.
BYD Executive Vice President Stella Li stated Buffett and Munger ‘like’ byd and its management.But they are an investor.
“So naturally their activity is to buy and sell,” he said.
Meanwhile, a special BYD advisor, Alfredo Altavilla said Buffett had done the right thing.
“We are very happy to have had a buffett (as an investor), but the fact that he disbursed his position was exactly like what was done in Berkshire Hathaway to live. Buying, gaining profits, and selling,” Altavilla said.
After the decision sticking out, BYD shares fell more than 6 percent last week in Hong Kong, even so the shares still rose almost 20 percent this year.
On the other hand, BYD now looks unlike before.The company’s progress is seen slowing down, this can be seen from the trimming of the 2025 sales target by 16 percent, lowering prices until the end of the year, slowing production, and last month reported a decrease in the first quarterly profit in more than three years.
Japanese company investment
Berkshire has closed investments in BYD, but they are now expanding share ownership in Japanese companies.
This week, Mitsui said Berkshire had 10 percent or more voting rights in the company.Previously or March 17 openness, Berkshire reported ownership of 9.8 percent or 285,401,400 Mitsui shares.The value is estimated at US $ 7.3 billion.
At the end of last month, a Mitsui official said Berkshire did increase ownership, but refused to give a percentage.
At the same time, Mitsubishi said that ownership of Berkshire rose to 10.2 percent from the previous 9.7 percent.
(Ryh/Mik)
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