This is the second time this month that Berkshire's reduction of BYD stock has been disclosed.

Berkshire Hathaway, managed by legendary US investor Warren Buffett, has continued to sell its stake in BYD, reducing its latest holding to less than 6 percent.

Berkshire further reduced its holdings in BYD H-shares on June 19, dropping its stake from 6.18 percent to 5.99 percent, according to a Hong Kong Stock Exchange filing today.

The company cut 2,017,500 BYD shares in its latest move, at an average price of HK$234.57, cashing out HK$470 million ($60 million).

This is the second time this month that Berkshire's reduction of BYD stock has been disclosed.

On June 11, Berkshire reduced its position in BYD by 1,347,500 shares, from 7.02 percent to 6.9 percent.

The average price per share traded at the time was HK$230.46, and Berkshire cashed out about HK$310 million.

Asked to comment on the June 11 reduction, BYD sources said the company was in good shape, with sales and profits maintaining growth, according to local media reports earlier this month.

On September 29, 2008, Berkshire Hathaway Energy, which Berkshire holds a 91.1 percent stake in, spent $230 million to buy 225 million shares of BYD at HK$8 per share.

After that date, Berkshire's holdings in BYD have not changed until about 2 years ago.

On August 24, 2022, Berkshire sold 1.33 million BYD shares traded in Hong Kong, bringing the stake from 20.04 percent to 19.92 percent, the first reduction since Buffett bought BYD shares.

BYD has become the world's largest new energy vehicle (NEV) maker after seeing rapid sales growth over the past two years.

The company sold 331,817 NEVs in May, edging further closer to its all-time high of 341,043 units in December last year, according to wholesale sales figures it announced on June 1.

BYD's retail sales of passenger NEVs in China amounted to 268,226 vehicles in May, continuing to top the list with a 33.4 percent share, according to the China Passenger Car Association (CPCA).

($1=HK$7.8070)

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