On September 15, BYD ELECTRONIC fell 3.09% in regular trading, trading at HK$22.6/share, with turnover of HK$147 million.

On the news front, the Hong Kong-listed lithium battery sector came under broad selling pressure, with multiple leading battery manufacturers confirming that local authorities have essentially suspended acceptance of new capacity filings for power and energy storage batteries since the second half of the year. Industry data indicate planned energy storage cell expansion has exceeded 800GWh, with total built capacity expected to reach 1.2 to 1.5TWh by year-end — far surpassing actual global demand. The sector-wide downturn dragged related names including BYD ELECTRONIC lower via linkage effects.

Adding to the pressure, the company's previously disclosed H1 results continued to weigh on sentiment. Attributable profit plunged 75.35% year-over-year to RMB 426 million, while gross margin contracted from 6.88% to 4.91%, primarily due to approximately RMB 700 million in foreign exchange losses and an unfavorable shift in product mix. Jefferies subsequently cut its target price to HK$25 and trimmed profit forecasts by up to 29%.

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