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Changes in Hong Kong stocks | Apple concept stocks generally rose, Gaowei Electronics (01415) rose more than 4%, and Apple sold more than 1.5 billion dollars in 1 hour
The Zhitong Finance App learned that Apple concept stocks generally rose in early trading. As of press release, Gao Wei Electronics (01415) rose 4.39% to HK$21.4; Sunyu Optics (02382) rose 2.86% to HK$44.95; BYD Electronics (00285) rose 2.54% to HK$34.3; and Qiu Ti Technology (01478) rose 1.78% to HK$4.01. According to the news, on the evening of May 20, the Tmall 618 promotion campaign was launched, and the official Tmall Apple Store flagship store launched a big price reduction. The iPhone 15 series phones are being promoted the most.
[Hong Kong Stock Connect] BYD Electronics (00285) was “dyed blue”, and the stock price rose 3.55% in response
Jinwu Financial News | BYD Electronics (00285) was included in the Hang Seng Index. The stock price rose 3.55% in early trading to HK$35, with a turnover of HK$64.207 million. According to the results of the Hang Seng Index Company's quarterly inspection, the Hang Seng Index constituent stocks will be added to BYD Electronics, excluding Country Garden Services (06098), and the number of constituent stocks will remain at 82. The changes will be implemented after the market closes on June 7, 2024 (Friday) and will take effect on June 11, 2024 (Tuesday).
BYD Electronic to Join Hong Kong's Benchmark Index
BYD Electronic International Co will be added to Hong Kong's Hang Seng Index following its latest quarterly review, according to a statement. Country Garden Services Holdings Co will be removed from the measure.
Hang Seng Index Company: BYD Electronics (00285) was included in the Hang Seng Index ESG Enhancement Index
Zhitong Finance App learned that on May 17, Hang Seng Index Co., Ltd. announced the quarterly index review results for the Hang Seng Index ESG Enhanced Index, Hang Seng Index ESG Enhanced Selected Index and Hang Seng Index ESG Enhanced Index as of March 31, 2024. The changes will take effect on June 11, 2024 (Tuesday). Among them, BYD Electronics (00285) will be included in the Hang Seng Index ESG Enhancement Index, Country Garden Services (06098) will be excluded, and the number of constituent stocks will remain at 70. The number of constituent stocks in the Hang Seng Index ESG Enhanced Select Index will remain at 67, and BYD Electronics (00285) will be selected
[Hong Kong Stock Connect] BYD Electronics (00285) rose 3.6%, Citi expects it to benefit from Apple's new product cycle
Jinwu Financial News | The stock price of BYD Electronics (00285) reversed the market in early trading. As of press release, it was HK$34.3, up 3.63%, with a turnover of HK$656.587 million. According to the news, Citi published a report stating that Apple (AAPL) has released next-generation tablets iPad Air and iPad Pro, and has already accepted pre-orders and went on sale on Wednesday (15th). This line indicates that the iPad Pro product specifications have been significantly upgraded, using Apple's most powerful M4 chip and a laminated OLED screen. Since the company did not launch a new iPad last year, it is expected that the new product will trigger the product cycle.
Major Bank Ratings | DBS: Lowering the target price of BYD Electronics to HK$34, the automotive electronics business is on the rise
According to a research report released by DBS, the target price of BYD Electronics was reduced from HK$38 to HK$34, which is equivalent to 14 times the predicted price-earnings ratio. This is the historical average. The profit forecast for this year and next two years was lowered by 9% and 3% to reflect the pressure on gross profit due to increased smartphone contributions. The bank pointed out that BYD Electronics directly benefits from the parent company, BYD's NEV sales. It is expected that this year and next two years, BYD's NEV sales will increase by 24% and 18% year-on-year, and that the value of electronic components for each electric vehicle will increase by 30% and 23%, respectively. The automotive electronics division's revenue is expected to increase 62%, 53% and 52% from this year to 2026
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