Sunny Optical 2382

Re: Sunny Optical 2382

Postby winston » Mon Aug 12, 2019 9:53 am

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SUNNY OPTICAL Jul Handset Lens Sets Shipment +23% YoY

SUNNY OPTICAL (02382.HK) announced the shipment volume of each major product in July 2019.

Among which, the shipment volume of handset lens sets increased by 23% YoY and 7.5% MoM, which was mainly due to the increased market share of the Company.

The shipment volume of vehicle lens sets increased by 19.7% YoY and declined by 1.7% MoM. The YoY growth was mainly due to the better development in vehicle camera field.

Source: AAStocks Financial News
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Re: Sunny Optical 2382

Postby winston » Wed Aug 14, 2019 3:09 pm

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<Research Report>C Suisse Upgrades SUNNY OPTICAL (02382.HK) to Outperform with Target Lifted to $103.7

SUNNY OPTICAL (02382.HK) reported 1H19 sales and GM beat, where optical components GM rose 2.2 ppts to 44.1% despite a 5.9% optoelectronic GM (down from 9.4%).

Credit Suisse expected 6P lens to contribute to a higher GM in 2H19 and 2020, with improving HCM GM in 2H19. Thus, the 2019-21 earnings forecasts on SUNNY OPTICAL were raised by 3%, 11% and 13%.

Overall, SUNNY OPTICAL was upgraded from Neutral to Outperform, with target lifted from $84.6 to $103.7.

Source: AAStocks Financial News
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Re: Sunny Optical 2382

Postby winston » Wed Aug 14, 2019 3:09 pm

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<Research Report>C Suisse Upgrades SUNNY OPTICAL (02382.HK) to Outperform with Target Lifted to $103.7

SUNNY OPTICAL (02382.HK) reported 1H19 sales and GM beat, where optical components GM rose 2.2 ppts to 44.1% despite a 5.9% optoelectronic GM (down from 9.4%).

Credit Suisse expected 6P lens to contribute to a higher GM in 2H19 and 2020, with improving HCM GM in 2H19. Thus, the 2019-21 earnings forecasts on SUNNY OPTICAL were raised by 3%, 11% and 13%.

Overall, SUNNY OPTICAL was upgraded from Neutral to Outperform, with target lifted from $84.6 to $103.7.

Source: AAStocks Financial News
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Re: Sunny Optical 2382

Postby winston » Thu Aug 15, 2019 11:08 am

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Sunny Optical (2382 HK)
1H19: Better-than-consensus Results; Rosy Growth Prospects


Sunny Optical’s 1H19 net profit soared 21% yoy to Rmb1,431m on an upbeat 30% yoy leap in revenue.

Blended gross margin dipped 1ppt yoy to 18.4%, due mainly to margin contraction in handset camera module, partially offset by optical component’s margin expansion.

Management lifts handset lens sets’ shipment growth target to 30% and boosts capex budget to Rmb4b from Rmb3b.

We expect gross margin to recover in 2H19 on improving production and yield rate.

Maintain HOLD and raise target price to HK$104.00. Entry price: HK$84.00.

Source: UOBKH

https://research.uobkayhian.com/content ... b51a4b4637
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Re: Sunny Optical 2382

Postby winston » Mon Aug 19, 2019 2:02 pm

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<Research Report>G Sachs Upgrades SUNNY OPTICAL (02382.HK) to Buy with Target Lifted to $150

Goldman Sachs turned positive on SUNNY OPTICAL (02382.HK), whose outlook returned to a positive trajectory after 18 months of muted growth, driven by handset lens GM growth and recovery in camera module GM.

The worst for SUNNY OPTICAL is over, with potentially better quality growth.

The broker raised SUNNY OPTICAL's 2019-21E earnings by 4%/ 48%/ 68%.

Overall, SUNNY OPTICAL was upgraded from Neutral to Buy, with target lifted from $70 to $150.

Source: AAStocks Financial News
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Re: Sunny Optical 2382

Postby winston » Mon Aug 19, 2019 2:04 pm

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<Research Report>Citi Hikes SUNNY OPTICAL (02382.HK) TP to $120; Rated Buy

SUNNY OPTICAL (02382.HK)'s management raised the handset lens sets shipment guidance to a 30% growth from a 25%-30% growth.

Meanwhile, SUNNY OPTICAL elevated its capacity guidance for handset lens sets and module, while lifting the full-year capex to RMB4 billion from RMB3 billion.

Citigroup ramped up the company's 2019-21E earnings by 2%-5%, with target up from $113 to $120.

SUNNY OPTICAL was kept at Buy.

Source: AAStocks Financial News
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Re: Sunny Optical 2382

Postby winston » Mon Aug 19, 2019 2:06 pm

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<Research Report>HSBC Research Lifts SUNNY OPTICAL (02382.HK) TP to $111.6; Rated Buy

SUNNY OPTICAL (02382.HK)'s 1H19 net profit and revenue were 4% and 7% ahead of street consensus but aligned with HSBC Global Research's forecast, thanks to pricing edges.

The broker retained SUNNY OPTICAL at Buy with target price hiked to $111.6 from $110.9.

Source: AAStocks Financial News
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Re: Sunny Optical 2382

Postby winston » Fri Sep 06, 2019 8:58 am

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C Suisse: SUNNY OPTICAL Expects Better GM in Handset Lens, HCM on Samsung Orders

Credit Suisse issued a research report covering SUNNY OPTICAL (02382.HK) pursuant to which the latter planned to boost handset lens delivery by more than 30% this year and to gradually improve gross profit margin by way of product portfolio adjustments.

The delivery and gross profit of handset lens modules are expected to improve along with a rise of Samsung's market share, the broker pointed out.

SUNNY OPTICAL was rated Outperform with target price set at $103.7.

Source: AAstocks.com
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Re: Sunny Optical 2382

Postby winston » Tue Sep 10, 2019 1:37 pm

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<Research Report>C Suisse Raises SUNNY OPTICAL (02382.HK) TP to $141; Retained Outperform

SUNNY OPTICAL (02382.HK)'s shipment of HCM, handset lens and vehicle lens in August advanced 22%, 46% and 31% YoY or rose 16%, 22% and 14% MoM, Credit Suisse pointed out in its report.

Shipment of HCM and handset lens YTD hiked 27% and 37% YoY, already topping Credit Suisse's forecast of 23% and 35% full-year increases.

The broker attributed the increases to new product cycle and Huawei order normalization.

The 2019E-2021E EPS were raised by 3-11%, target price to $141 from $103.7 with rating kept Outperform.

Source: AAStocks Financial News
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Re: Sunny Optical 2382

Postby winston » Tue Sep 24, 2019 11:22 am

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<Research Report>UBS Hikes SUNNY OPTICAL (02382.HK) TP to $145; Kept Buy

UBS, in its research report, raised SUNNY OPTICAL (02382.HK)'s 2019E-2021E earnings by 2-16% to factor in the strong handset lens growth and advanced ASP.

The broker said the inventory built by Chinese handset OEMs provided strong support for the company's 3Q shipment, while uncertainties remain in 4Q, especially when Huawei is still subject to the US entity list influence.

SUNNY OPTICAL's rating was kept at Buy with target price hiked to $145 from $125.

Source: AAStocks Financial News
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