Core Viewpoint - BYD Electronics reported a decline in stock price, with a drop of nearly 3% and a current price of HKD 36.45, alongside a trading volume of HKD 835 million [1] Financial Performance - For the first three quarters of 2025, BYD Electronics achieved a revenue of CNY 123.285 billion, reflecting a year-on-year growth of 0.95% [1] - The profit attributable to equity holders of the parent company was approximately CNY 3.137 billion, marking a year-on-year increase of 2.4% [1] Market Expectations - Bank of America Securities noted that BYD Electronics' Q3 performance fell short of expectations, with a net profit of CNY 1.4 billion, which represents a quarter-on-quarter increase of 27% but a year-on-year decrease of 9% [1] - The reported net profit only reached 29% and 27% of the bank's and market's full-year estimates, respectively, and was below the historical range of 32-38% for the past three years [1] Earnings Forecast Adjustment - Bank of America Securities has revised its earnings forecasts for BYD Electronics for 2025 to 2027 downwards by 4% to 8%, reflecting the slowdown in Q3 growth and a lackluster outlook [1]