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<Research>Citi Trims BYD ELECTRONIC's TP to HKD43.4; 3Q Results Miss
Recommend 7 Positive 10 Negative 14 |
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BYD ELECTRONIC (00285.HK) announced yesterday (30th) its 3Q25 results and held a briefing, according to a Citi research report. The key points include that BYD ELECTRONIC's 4Q25 results are expected to be roughly flat YoY, with business and customer structure remaining stable; the iOS components business is estimated to expand significantly over the next two years, while the iOS EMS and Android businesses will remain steady next year; This year's automotive business revenue is anticipated to be around RMB25 billion, lower than the previous guidance of RMB30-35 billion, due to a slowdown in sales of BYD COMPANY (01211.HK) pure electric vehicles; and this year's data center revenue will miss expectations because of limited GPU supply and some projects being postponed from 4Q25 to 1Q26. Citi cut its target price for BYD ELECTRONIC from HKD51 to HKD43.4, with a Buy rating. The broker considered BYD ELECTRONIC's launch of smart home products in 1H26 and improved visibility of the iPhone foldable shell design in 2H26 as upcoming catalysts. AAStocks Financial News |
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