CLSA Cuts BYD ELECTRONIC (00285) Target Price to HK$48, Keeps "Outperform" Rating

Stock News

2025/10/31

CLSA released a research report stating that BYD ELECTRONIC's (00285) Q3 and Q4 2025 performance will be impacted by material changes in metal casings for a U.S. client and slower growth in BYD auto shipments. However, the firm expects its metal casing business to see strong growth in 2026, driven by foldable titanium alloy smartphone casings, while liquid cooling systems and high-voltage DC modules will drive breakthroughs in its AI server business. CLSA believes BYD ELECTRONIC will achieve sustainable growth through multiple drivers. It maintains an "Outperform" rating but lowers 2025–2027 profit forecasts by 8%, 9%, and 10%, respectively, reducing the target price from HK$52.9 to HK$48.

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