CITIC SEC: Maintains "buy" rating on BYD ELECTRONIC (00285), expected to benefit greatly from the deepening of smart driving by 2025.

CITIC SEC released a research report stating that it maintains a "buy" rating for BYD ELECTRONIC (00285), optimistic about the company's growth potential and valuation boost from new businesses. It is forecasted that the company's net profit for 2024-26 will be 4.6/6.4/8.1 billion yuan. The company is a global leading high-end precision manufacturing enterprise, with core businesses tied to top global customers. In terms of automotive electronics, the company is a core supplier of its parent company BYD Company Limited (01211) and is expected to benefit significantly from the deepening of intelligent driving by 2025. Additionally, the company has also expanded into products such as thermal management and suspensions, with the potential for continued market share growth. In the field of AI, the company has a strategic partnership with NVIDIA, possessing capabilities in cloud-based AI and edge AI solutions.