​BYD Co., the world’s largest new energy vehicle maker, powered past LG Energy Solution as the world’s second-largest electric vehicle (EV) battery supplier in the first quarter this year, reinforcing China’s dominance of the industry as EV adoption gains pace globally.

Companies listed on the Shenzhen Stock Exchange reported combined profits of over 257 billion yuan (US$36.2 billion) in the first quarter of the year, the bourse said on Monday.

The event, aimed at fostering cooperation between Chinese and South Korean companies, featured one-on-one meetings between the South Korean SMEs and their Chinese counterparts.

During a March interview with Shenzhen Daily, Taylor Ogan, CEO of U.S. hedge fund Snow Bull Capital, cited Shenzhen’s rapid technological development as the main reason for relocating his company from Boston to the booming city in southern China in January 2023.

The first quarter of the year saw an impressive 82.9% surge in foreign investment, which highlights the unwavering confidence that foreign enterprises continue to have in Shenzhen, as reported by Shenzhen Special Zone Daily yesterday.

A powerful resurgence in smartphone sales helped Huawei Technologies post a nearly sixfold increase in the Shenzhen-based tech giant’s net profit in the first quarter of the year.

BYD Co., the world’s largest new energy vehicle maker, said Wednesday that its sales in April surged nearly 50% from a year ago as the Shenzhen-based automaker continues to lead green car sales in the world’s largest auto market.

Huawei Technologies Co. has made changes to its senior executive lineup at the company’s consumer business unit as the resurgent tech giant regains its lost ground in the smartphone market even under years of U.S. sanctions that has cut off its access to American technology.