SEHK:285Electronic
BYD Electronic (SEHK:285) Profit Slump Deepens Pressure On Rich Valuation
BYD Electronic (International) stock closed at HK$24.76, even as the latest half year results threw a harsh spotlight on profitability. The long term bull story has leaned on strong earnings forecasts and a discounted cash flow value that sits well above the current share price. The headline from this earnings release is much less flattering. Net profit margin over the last year is 1.2%, roughly half the 2.5% level a year earlier, while the P/E multiple of 21.8x still prices the stock above...