HK Stock Market Move | BYD ELECTRONIC (00285) falls by more than 3% again, with third quarter gross profit declining, while new energy vehicle business maintains stable growth.

BYD ELECTRONIC (00285) fell more than 3%, as of the time of writing, dropping by 3.24% to HK$34.06, with a turnover of HK$53.5678 million. On the news front, BYD ELECTRONIC recently announced its performance for the third quarter of 2025. EB SECURITIES pointed out that in Q3 2025, BYD ELECTRONIC's revenue was 42.68 billion RMB, a year-on-year decrease of 2.0%. Gross profit was 2.946 billion RMB, a year-on-year decrease of 20.0%, with a gross profit margin of 6.9%, a year-on-year decrease of 1.6 percentage points. According to the company's performance meeting, the decline in revenue and gross profit was mainly due to changes in product structure: 1) the high-margin metal casing business for new models of North American major customers saw a decrease in revenue year-on-year due to delayed deliveries; 2) the assembly business with low margins saw an increase in revenue year-on-year. Due to the decline in gross profit, net profit decreased by 9.0% to 1.407 billion RMB. CICC International released a research report stating that BYD ELECTRONIC's third-quarter revenue met expectations, but net profit was dragged down by a weak performance in the smartphone components business, declining income from new smart products, and a drop in gross profit margin, while the new energy vehicle business maintained stable growth. Management expects that fourth-quarter revenue and gross margin will remain flat, mainly affected by iPhone component issues and delays in AI server projects. However, they expect to benefit from component upgrades, the launch of new smart home products, growth in high-end new energy vehicle products, and the shipment of AI server projects, leading to stronger revenue growth in 2026.