According to the Zhitong Financial APP, CMB International issued a research report, reiterating a "buy" rating on BYD Electronic (00285), which currently has an attractive valuation and a target price of HKD 45.15, making it the preferred choice in the industry.

BYD Electronic's management reaffirmed its positive outlook for 2024: 1) Apple/Android: iPad market share growth, AI iPhone upgrade cycle, and high-end Android smartphone business growth; 2) new energy vehicles: intelligent cockpit, heat pump system, high-end ADAS system, and active suspension products are expected to drive business income to increase by more than 40% year-on-year in 2024; 3) Nvidia AI servers/robots: China CSP's demand for AI servers and autonomous mobile robots (AMRs) provided to factories.