1Q24 result in-line, AI exposure next to watch

BYD Electronic | 285.HK Rating BUY Maintain 1Q24 result in-line, AI exposure next to watch Target HKD 41.35 P Cri uce rr ent HKD 27.10 Upside: +54.3% 1Q24 result in-line, e arnings backend loaded Comppraicen y U pdate % BYDE’s 1Q24 result was largely in-line and on track to FY24E consensus, with revenue and net profit each grew 38.5%/33% to 3 May 2024 RMB36.5bn and RMB610mn respectively thanks to Jabil Singapore (Jabil) consolidation, while GM was largely flattish QoQ at 6.9%, Hayman Chiu despite a 0.8ppt d ...