Movement Alert｜BYD ELECTRONIC Falls 5.23% in Regular Trading, Q3 Profit Miss and Target Price Cut Weigh on Shares

Market Focus11-02

On November 2, BYD ELECTRONIC fell 5.23% in Regular Trading, trading at HK$20.7, with turnover of HK$107 million.

The move was linked to a fresh earnings-related miss alongside an investment bank target price cut. Recent market reports said the company reported third-quarter profit of RMB537 million, up 35% quarter on quarter but down 62% year on year, while nine-month profit of RMB963 million reached only 27% of one bank's forecast and 43% of market expectations.

That same bank reiterated a Neutral rating and lowered its target price to HK$25 from HK$29, based on 13 times projected 2027 earnings. For the first nine months, revenue was about RMB127.46 billion, up 3.38% year on year, but gross profit fell 28.48% and gross margin narrowed to 4.76%, underscoring the market's concern over weak profitability despite modest top-line growth.

(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.

Comments

We need your insight to fill this gap
Leave a comment