Expense ManagementRecent share price corrections have reflected Jabil-related expenses.
Financial Performance1H24 results were below estimates on GPM and higher Jabil-related expenses, with net profit growth of 0.1% YoY below consensus estimate by 21%/15% YoY, mainly due to weaker GPM and intangible asset depreciation expenses.
Profit MarginsBYDE's GPM improved to 8.5%, slightly ahead of expectations, driven by higher UTR in iPhone casing, stable Android demand and NEV growth.