Sunny Optical 2382

[winston]

vested

SUNNY OPTICAL Handset Lens Sets Shipment Vol. Drops 1.9% YoY in Dec 2024

The shipment volume of handset lens sets amounted to about 105 million units in December, down 5.6% MoM and 1.9% YoY, according to SUNNY OPTICAL (02382.HK) 's announcement.

The shipment volume of handset camera modules increased by 13.4% YoY/ 42.7% MoM to 53.394 million units, mainly due to the low base caused by the weak demand from the overall smartphone market in the same period of last year/ the delivery requests from customers.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

not vested

Sunny Optical (2382 HK)

Smartphone And Automobile Businesses To Support Growth

In 2025 Sunny is expecting the smartphone market in 2025 to remain robust due to the ongoing spec upgrades and the recently-announced trade-in subsidy programme.

In particular, the mid-to-high-end segment is likely to be the key volume driver.

For the automobile business, the rapid advancements of ADAS systems are a boon for VLS shipments, which are expected to outpace vehicle shipments growth in the year.

Maintain BUY and target price of HK$85.00.

Source: UOBKH

https://research.uobkayhian.com/content ... e=hs_email

[winston]

not vested

Sunny Optical expects profit up 150 percent last year as market recovers

Expects its net profit to jump up to 150 percent to 2.75 billion yuan (HK$2.93 billion) last year, thanks to a recovery in the smartphone market and strong new energy vehicle demand.

Source: The Standard

https://www.thestandard.com.hk/breaking ... t-recovers

[winston]

not vested

2024 Profit Alert – Expect A Solid Beat On Earnings Expectations

Sunny announced a profit alert for 2024, with earnings expected to grow 140-150% yoy;

The mid-point of this guidance is 13.5%/10.3% above our and street estimates respectively.

We believe the beat mainly comes from a better-than-expected ASP and margins for the handset business, and as such, we adjust our assumptions accordingly.

Our 2024-26 earnings estimates are raised by 13.0%/10.8/10.7% respectively.

Maintain BUY and raise target price to HK$100.00.

Source: UOBKH

https://research.uobkayhian.com/content ... e=hs_email

[winston]

not vested

SUNNY OPTICAL Feb Handset Lens Set Shipments Falter 6.9% YoY

SUNNY OPTICAL (02382.HK) announced that in February 2025, the shipment volume of its handset lens sets faltered by 6.9% YoY or 8.2% MoM to 97.168 million units, while its handset camera module shipments plunged by 32.1% YoY or 3.8% MoM to 35.371 million units.

These declines were mainly because SUNNY OPTICAL focused more on mid-to-high-end projects and thus the product mix improved compared to the same period of last year.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

not vested

Sunny Optical profit soars

Apple supplier Sunny Optical Technology (2382) saw its net profit jump 145 percent year-on-year to 2.7 billion yuan (HK$2.9 billion) last year, driven by the recovery of the smartphone market and the rapid development of the vehicle intelligentization.

The board proposed a final dividend of 53.2 HK cents per share, up 143 percent from a year earlier.

Revenue for the year reached about 38.29 billion yuan, up around 20.9 percent from the previous year.

Revenue from the optical components segment jumped 22.5 percent from a year earlier to 11.71 billion yuan, while the optoelectronic products segment saw a 21.1 percent increase in revenue, reaching 26.16 billion yuan.

However, revenue from the optical instruments segment dropped 18.4 percent to 429.6 million yuan, mainly due to project delays linked to domestic policy changes.

Vehicle lens set shipments grew about 12.7 percent to around 102.31 million units in 2024, surpassing 100 million for the first time and retaining its position as the global market leader.

The group also remained the world's largest supplier of handset lens sets, shipping around 1.32 billion units in 2024, up about 13.1 percent from 2023.

Source: The Standard

https://www.thestandard.com.hk/section- ... ofit-soars

[winston]

vested

<Research>Citi: SUNNY OPTICAL (02382.HK) 2H24 NP in Line

SUNNY OPTICAL (02382.HK) released its 2024 results yesterday (24th), which are at the mid-point of its mid-February profit alert, Citi Research said.

Although the Company did not disclose margins for handset lenses/handset camera modules/ vehicle lenses, the broker expected these figures to be in line with its 2H24 guidance (20-25%/ 6-10%/ 40%), as optical component gross profit margin improved by 0.2 ppts HoH to 32%, and optical product gross profit margin expanded by 1.6 ppts HoH to 9.8%.


Related ews - DBS Elevates SUNNY OPTICAL's TP to $110, Rating Kept Buy

2024 XR business' revenue growth was 38% YoY, beating guidance of 25%.

Therefore, the broker rated SUNNY OPTICAL at Buy, with a target price of $102.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

vested

<Research>CLSA Adds SUNNY OPTICAL (02382.HK) TP to $88.6, Rating Outperform

SUNNY OPTICAL (02382.HK) guided a favorable outlook for its handset business and an encouraging outlook for its auto business, CLSA released a research report saying.

The Company expected shipments of handset lens set (HLS) to grow by 5% YoY, with improvements in average selling price and profit margin.

The Company is targeting a 5-10% growth in shipments of handset camera module (HCM), with flat average selling price and higher margin.

Related News: Citi: SUNNY OPTICAL (02382.HK) 2H24 NP in Line

Automotive camera module shipment is guided to grow by 15-20%, with stable margin.

Therefore, the broker largely maintained its profit forecast, and added its target price from $88.3 to $88.6, with rating kept at Outperform.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN

[winston]

vested

2H24: Earnings In Line With Profit Alert; 2025 Guidance Within Expectations

Sunny’s 2H24 net profit was in line at Rmb1,620m, but the core business was slightly below expectations on a slight miss in revenue and margins.

Nevertheless, guidance for the vehicle business is better than expected, and product mix across the board is expected to improve and boost profitability.

We believe Sunny’s fundamentals remain intact and are well-positioned to benefit from an upcycle in both the handset and vehicle sectors.

Maintain BUY and target price of HK$100.00.

Source: UOBKH

https://research.uobkayhian.com/content ... e=hs_email

[winston]

vested

<Research>BOCI Adds SUNNY OPTICAL's TP to $89, Rating Buy

SUNNY OPTICAL (02382.HK)'s 2024 results fell short of expectations, BOCI remarked in its report.

Although there was an improvement in product mix and average selling price during the period, weak shipments of mobile camera modules hampered the overall recovery pace.

The company's guidance for this year suggested a more aggressive strategy. It aims to maintain a leading position in automotive lenses while gaining more market share in mobile cameras and modules.

Related News: CLSA Adds SUNNY OPTICAL (02382.HK) TP to $88.6, Rating Outperform

BOCI kept the Buy rating unchanged for SUNNY OPTICAL and raised its target price from $77 to $89.

Source: AAStocks Financial News

http://www.aastocks.com/en/stocks/news/ ... -news/AAFN