Elevator Pitch
I maintain my Neutral rating on Hong Kong-listed Chinese electronics manufacturing services or EMS provider BYD Electronic (International) Company Limited (OTCPK:BYDIF) (OTC:BYDIY) [285:HK].
This is an update of my initiation article on BYD Electronic published on January 10, 2020. BYD Electronic's share price has declined by -12.5% from HK$16.96 as of January 9, 2020 to HK$14.84 as of May 29, 2020. BYD Electronic trades at 11.7 times consensus forward FY2021 P/E, which represents a premium to its historical five-year and 10-year mean consensus forward next twelve months' P/E multiples