<Research> G Sachs: Growth of BYD ELECTRONIC (00285.HK) Fueled by New Foldable Phones; Buy Rating Maintained

The analyst rating for BYD ELECTRONIC (00285.HK) is maintained at "Buy" due to several reasons highlighted in the Goldman Sachs research report. The management's expectation of higher unit value from upcoming new foldable phones for its major brand client is seen as a positive factor for the company's future growth. Additionally, the management's optimism about the AI infrastructure cycle and their focus on expanding opportunities among global and local clients further supports this positive outlook. Overall, the strategy of concentrating on leading clients and diversifying into AI infrastructure contributes to the favorable rating. The target price is set at $53.08.

The analyst rating from CCB International for BYD ELECTRONIC is maintained as a "Buy" despite a decrease in the target price from HKD52 to HKD47. This decision is based on the company's 3Q25 performance, which showed a 2% year-over-year decline in revenue and a 9% year-over-year drop in net profit, although the net profit did increase by 27% quarter-over-quarter. The results were below the broker's expectations, primarily due to weaker performance in components and intelligent products. The maintenance of the "Buy" rating suggests that the broker still sees potential for recovery or growth in the company's future performance.