Core Viewpoint - BYD Electronics is expected to have stable performance in 2025, with potential growth points in 2026-2027, despite a slight decline in Q3 2025 revenue and net profit [2][10]. Financial Forecast - The forecasted revenue for Q4 2025 is between 54.969 billion to 67.263 billion yuan, representing a year-on-year change of -0.4% to 21.9% [1][7]. - The expected net profit for Q4 2025 is between 1.134 billion to 1.546 billion yuan, with a year-on-year change of -5.7% to 28.6% [1][7]. - The average revenue forecast is 58.271 billion yuan, with a year-on-year growth of 5.6%, while the average net profit forecast is 1.235 billion yuan, reflecting a 2.7% increase [9]. Business Segments Consumer Electronics - Starting from Q4 2025, the company will increase production capacity for mid-frames, with significant contributions expected from major clients' foldable devices and the 20th anniversary model [4][10]. Automotive Business - The growth in the automotive sector will primarily come from intelligent driving and suspension products, benefiting from the parent company's sales growth and average selling price (ASP) increases. The company plans to enhance promotion efforts for external automotive clients starting in 2025 [5][10]. New Intelligent Products - In 2026, the data center segment is expected to see order fulfillment, with growth anticipated in non-data center business volumes. The GB300 liquid cooling system has received certification, and the Rubin model will fully adopt liquid cooling from 2027 onwards. The company is also preparing power supply products, which are expected to benefit from an increase in high-voltage architecture ratios in 2027 [5][11].