BYD ELECTRONIC's stock plummeted 6.25% intraday on Tuesday, following a negative research report from Bank of America Securities.
The report highlighted that BYD ELECTRONIC's second-half performance fell short of expectations, with net profit declining 35% year-on-year to RMB 1.8 billion, missing both the bank's and market forecasts. Bank of America has reduced its profit forecasts for 2026 and 2027 by 20% to 21%, citing margin pressure in the consumer electronics business, and cut the target price from HK$38 to HK$31.50 while maintaining a Neutral rating.
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