Core Viewpoint - Bank of China International reports that BYD Electronics (00285) underperformed in revenue and gross margin for the first half of the year, but net profit exceeded market expectations, primarily influenced by the smartphone business, offset by strong AIS revenue growth and reduced R&D expenses [1] Group 1: Financial Performance - BYD Electronics' revenue and gross margin were below expectations for the first half of the year [1] - Net profit surpassed market expectations, indicating resilience despite challenges in the smartphone sector [1] Group 2: Future Outlook - The company is expected to have better visibility next year due to potential adoption of titanium alloy casing in foldable iPhones, presenting growth opportunities [1] - Rapid growth in server OEM, liquid cooling, and power sectors, particularly in overseas markets, is anticipated to benefit the company [1] Group 3: Analyst Rating - Bank of China International maintains a "Buy" rating for BYD Electronics and raises the target price from HKD 40.9 to HKD 52.2 [1]

Core Viewpoint - BYD Electronics (00285) reported lower-than-expected revenue and gross margin for the first half of the year, but net profit exceeded market expectations, primarily influenced by the smartphone business, offset by strong AIS revenue growth and reduced R&D expenses [1] Group 1: Financial Performance - Revenue and gross margin for BYD Electronics fell short of expectations [1] - Net profit surpassed market expectations, indicating resilience in financial performance [1] Group 2: Market Outlook - The target price for BYD Electronics has been raised from HKD 40.9 to HKD 52.2, maintaining a "Buy" rating [1] - The company is expected to have better visibility next year due to potential adoption of titanium alloy casing in foldable iPhones, presenting growth opportunities [1] - Rapid growth in server OEM, liquid cooling, and power sectors, particularly in overseas markets, is anticipated to benefit the company [1]

Core Viewpoint - BYD Electronics' revenue and gross margin for the first half of the year fell short of expectations, but net profit exceeded market forecasts, primarily influenced by the smartphone business, offset by strong growth in AIS revenue and a decrease in R&D expenses [1] Group 1: Financial Performance - Revenue and gross margin were below expectations for the first half of the year [1] - Net profit surpassed market expectations [1] - Strong growth in AIS revenue and reduced R&D spending helped mitigate the impact of the smartphone business [1] Group 2: Future Outlook - The company is expected to have better visibility next year due to potential adoption of titanium alloy casing in foldable iPhones, providing better product growth opportunities [1] - Rapid growth in server OEM, liquid cooling, and power sectors, especially in overseas markets, will benefit the company [1] Group 3: Investment Rating - The firm maintains a "Buy" rating for BYD Electronics, raising the target price from HKD 40.9 to HKD 52.2 [1]