Bank of America Securities issued a research report indicating that Joyson Electronic (00699) recorded a 4% year-over-year increase in revenue last quarter. The gross margin rose by 0.2 percentage points to 18.3%, while operating profit reached RMB 833 million, up 154% compared to the same period last year. Net profit stood at RMB 216 million. The firm initiated coverage on Joyson Electronic's H-shares with a "Buy" rating and a target price of HK$21.4, based on a comprehensive valuation approach.
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