On June 11, BYD Electronic fell 3.21% in regular trading, trading at HK$24.72/share, with trading volume of HK$74.11 million, extending its recent downtrend.

On the news front, Citi recently downgraded BYD Electronic to a Sell rating with a target price of HK$22.6, implying further downside from the current level. Citi noted that the company's Q1 revenue of RMB 38.2 billion dropped 32% quarter-over-quarter, far exceeding the five-year average seasonal decline of 16%, primarily dragged by iPhone seasonality and weak Android business. Gross margin also declined 1.1 percentage points year-over-year to 5.2%. Management guided full-year revenue to remain flat year-over-year, with Android EMS business expected to decline. Multiple institutions including Bank of America and BOCI have also lowered their target prices, reflecting broad caution toward near-term consumer electronics prospects. Although the company has expanded into AI server solutions, the limited revenue scale from new businesses is unlikely to offset the decline in traditional consumer electronics in the short term.

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