China’s BYD plans to launch ‘high-end luxury’ models from this year

BEIJING (Reuters) -China’s BYD plans to launch a number of “high-end luxury” models from this year, it said in Hong Kong stock market filing.

The Shenzhen-based company will also formulate a “reasonable and feasible” plan to buy back more shares, it said in Sunday’s filing.

Last December, BYD said that Chairman Wang Chuanfu proposed the company would buy back 200 million yuan ($27.8 million) worth of its A-shares.

BYD’s Shenzhen-listed shares closed up 1.3% on Monday after stock trade resumed following the Lunar New Year holidays, while its Hong Kong-listed shares slipped 1.9%.

($1 = 7.1978 Chinese yuan renminbi)

(Reporting by Liz Lee, Ethan Wang and Shanghai newsroom Editing by Mark Potter)