China International Capital Corporation released a research report stating that considering the upward shift of industry valuation center, the target price was raised by 6.1% to 38.2 Hong Kong dollars. $BYD ELECTRONIC (00285.HK)$ Corresponding to P/E ratios of 17.2 and 12.8 times for the next two years, the "outperform industry" rating is maintained. The bank stated that they are focusing on the development of the datacenter business of the group, remain bullish on the cooperation with NVIDIA, and accelerate its AI-related expansion pace.

The bank pointed out that Byd Electronic's performance in the third quarter of this year meets the bank's expectations. Benefiting from strong demand from overseas customer Jepp and sales growth of the group's parent company, the group's revenue in the third quarter increased by 21.08% year-on-year, reaching a historical high. Due to Jepp business entering a peak delivery season and continuous improvement in the existing product structure, the group's gross margin improved compared to the previous quarter. Zhongjin Corporation believes that the small increase in Byd Electronic's net income compared to revenue in the third quarter may be due to the impact of exchange rate losses between the US dollar and the Chinese yuan, thereby dragging down the overall net income performance.