Xin Lang Cai Jing·2025-09-09 04:38Core Viewpoint - The report from Xingzheng International maintains a "Buy" rating for BYD Electronics (00285), projecting revenue and net profit growth from 2025 to 2027, with revenues expected to reach 189.5 billion, 205.8 billion, and 223.3 billion RMB, and net profits of 4.939 billion, 6.365 billion, and 7.384 billion RMB respectively [1] Group 1: Consumer Electronics Business - The company continues to enhance profitability through the acquisition of component production lines, with a projected revenue of 60.947 billion RMB in H1 2025, representing a year-over-year decline of 3.7%, accounting for 75.6% of total revenue [1] - Revenue from component business is expected to be 13.752 billion RMB in H1 2025, showing a year-over-year decrease of 9.8% [1] Group 2: New Intelligent Products Business - Multiple server products have passed customer validation, and the company is implementing intelligent logistics robots on a large scale internally, with projected revenue of 7.209 billion RMB in H1 2025, reflecting a year-over-year decline of 4.1%, making up 8.94% of total revenue [1] Group 3: New Energy Vehicle Business - The introduction of new products and an increase in market share are driving significant growth, with projected revenue of 12.450 billion RMB in H1 2025, a year-over-year increase of 60.5%, accounting for 15.45% of total revenue [1] - The parent company is expected to achieve sales of 2.15 million new energy vehicles in H1 2025, representing a year-over-year increase of 33.04% [1]