BYD is broke

[Chase]

BYD delivered 341,000 vehicles in July, down 10 % from June, marking its first sales decline of 2025
https://www.cnbc.com/2025/08/04/chi...livery-dip-in-2025-as-ev-price-war-bites.html

Payables have surged ninefold over the past five years, raising concerns over BYD’s supply chain practices
https://www.wsj.com/business/autos/...eezing-suppliers-in-the-ev-price-war-2c70ee82