Maintain BUY. Although we had expected a QoQ lift in gross margin, BYD’s 3Q24 gross margin still beat our forecast. Such beat was offset by higher-thanexpected SG&A and R&D expenses.
What is covered in the Full Insight:
Introduction to 3Q24 Results
Gross Margin and Expense Analysis
Future Sales Projections
Valuation and Key Risks
Market and Share Performance Overview
SUMMARY
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