not vested
Sunny Optical stares at 55pc drop in profitSunny Optical Technology (2382) warned that its net profit last year may plunge by up to 55 percent from the previous year.
The Apple supplier said it expects to record a profit of between 2.25 billion yuan (HK$2.6 billion) and 2.49 billion yuan in 2022, representing a decrease of approximately 50 to 55 percent as compared to its profit in 2021.
The sink can be attributed to the "resurgence of the pandemic, chip shortage, Russian-Ukrainian conflict, inflation and uncertainties in the global economy in 2022," the company said in a filing.
"The smartphone market experienced weak demand and the smartphone camera showed a trend of despecification, which resulted in a year-on-year decrease in the shipment volume of handset lens sets and handset camera modules of the group, with increasing pressure on average selling prices and gross profit margins."
The depreciation of the yuan last year led to an unrealized foreign exchange loss of 353.3 million yuan from its US$600 million (HK$4.71 billion) corporate bonds issued in January 2018 - though the loss was a non-cash item, Sunny said.
And global smartphone shipments suffered their worst quarterly drop on record last quarter - declining 18.3 percent to a little over 300 million units from a year earlier, according to data from the International Data Corporation. For the whole year, shipments fell 11.3 percent and marked the lowest total for a decade, it said.
Source: Bloomberg
https://www.thestandard.com.hk/section- ... -in-profit
It's all about "how much you made when you were right" & "how little you lost when you were wrong"