(Yicai Global) Aug. 22 -- Shares in Chinese electric carmaker BYD opened lower today despite the company more than tripling its first-half net profit to almost CNY1.5 billion (USD206.6 million) from a year earlier.

Its Chinese mainland-listed shares [SHE:002594] started down 1.5 percent and had slid further to CNY50.03 (USD7.08), 3.1 percent lower, as of 10.07 a.m., largely down to its less than rosy prospects for the remainder of the year as the central government is expected to speed up its cutback of subsidiaries for new-energy vehicles, BYD's core business. 

Revenue was up 14.8 percent on the year at CNY62.2 billion (USD8.8 billion).

 Editor: James Boynton