Movement Alert｜BYD Electronic Falls 3.57% in Regular Trading, Citi Sell Rating and Weak Consumer Electronics Weigh on Shares

Market Focus06-10

On June 10, BYD Electronic declined 3.57% in regular trading, trading at 25.9 HKD/share, with trading volume of 76.99 million HKD, extending its recent downtrend.

On the news front, Citi recently downgraded BYD Electronic to a Sell rating with a target price of 22.6 HKD, implying significant further downside from the current level. The broker noted that Q1 revenue of 38.2 billion yuan fell 32% quarter-over-quarter, far exceeding the five-year seasonal average decline of 16%, dragged by iPhone seasonality and weak Android business. Gross margin declined 1.1 percentage points year-over-year to 5.2%. Management guided full-year revenue to remain flat, with Android EMS business expected to decline year-over-year. Multiple institutions including Bank of America and BOCI also lowered target prices, reflecting broad caution toward the consumer electronics sector. While the company has made inroads into AI server businesses, the new revenue stream remains limited in scale and is unlikely to offset traditional business headwinds in the near term.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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