BYD Electronics (285.HK) rises over 8% in Hong Kong trading to HK$23.160.

The rally comes after Goldman Sachs downgraded the stock to "sell" on July 7 from "neutral," slashing its price target from HK$40 to HK$21. The bank cited rising memory costs dampening demand and a low share of AI server revenue as reasons for lowering its 2026-2028 forecasts for revenue, gross margin, and net profit.