Chinese energy and auto companies report mixed results amid market shifts

PetroChina's profit declined from record levels as its five-year plan concluded, though the company is planning a $32 billion development drive and downplayed impacts from Iran. Meanwhile, BYD reported a profit slump that signals China's EV downturn continues, even as some analysts suggest the Iran oil crisis could boost EV demand. The headlines show Chinese energy and automotive firms navigating shifting market conditions.