<Midday Update> HSI Ends Midday at 25,184, Gaining 80 Points; HSTI Reaches 5,586, Up 88 Points; XPENG Surges Over 10%; TENCENT, SINO BIOPHARM, CHOW TAI FOOK, HUA HONG SEMI, and AKESO Achieve New Highs

The analyst rating for BYD ELECTRONIC (00285.HK) was reiterated at Neutral by BofA Securities due to the company's 3Q25 results missing expectations. The net profit of RMB1.4 billion, while showing a 27% quarter-over-quarter increase, was down 9% year-over-year and only met 29% of the full-year estimates by BofA and 27% by the market. This performance is below the typical range of 32-38% achieved over the past three years. Despite trimming the target price from $45.5 to $40, the stock is still considered undervalued with a projected PE ratio of 13x compared to the average of 26x for peers in the Apple supply chain, leading to the Neutral rating based on reasonable valuation.