Sunny Optical 2382

[winston]

not vested

Sunny Optical April handset lens shipment volume down

Sunny Optical Technology (2382) announced the shipment volume of handset lens sets last month was down by 1.8 percent year-over-year and 2.4 percent month-on-month to 111 million units.

Handset camera modules' shipment volume rose by 12.7 percent in April over a year ago and rise up 11.1 percent over a month earlier, mainly driving by increased market share of the handset camera modules of the group.

The shipment volume of vehicle lens sets plunged 44.4 percent yearly and 51.6 percent monthly to 2.098 million units, due to the delay in delivery caused by the overseas epidemic.

Source: The Standard

https://www.thestandard.com.hk/breaking ... olume-down

[winston]

not vested

Nomura Chops SUNNY OPTICAL (02382.HK) TP to $135; Downgraded to Neutral

The US ban on supply to Huawei could adversely impact the structural growth trend of camera speculation upgrades of SUNNY OPTICAL (02382.HK), Nomura forewarned.

As Huawei is the biggest customer of SUNNY OPTICAL, which makes up 35-40% of the latter's total sales in 2019, Nomura assumed Huawei to account for 40% or more of Sunny’s total camera module shipments in 1H20.

The target price was axed to $135 from $150 with rating cut to Neutral from Buy.

Source: AAStocks Financial News

[winston]

Sunny Optical shipments decline amid virus gloom

by Kevin Xu

Sunny Optical Technology (2382) said the shipment volume of handset lens sets dropped 12.3 percent month-on-month, or 8.6 percent year-on-year, to 97.47 million units in May, mainly due to the impact of the pandemic.

For vehicle lens sets, the shipment volume plunged 35 percent year-on-year in May to 2.54 million units, but increased by 21.4 percent from a month before, due to the gradual recovery of customers' delivery.

The volume of handset camera modules increased by 20.3 percent last month from a year before to 47.74 million units, mainly due to the company's increased market share in handset camera modules.

Source: The Standard

https://www.thestandard.com.hk/section- ... irus-gloom

[winston]

not vested

Investor day takeaways

Sunny showcased its advanced packaging technology during its investor day.

It believes HCM could see ASP pressure, but GPM should be protected by higher efficiency. We think its VLS shipment target could be lowered.

Reiterate Add, with a TP of HK$145, based on 23x FY21F P/E.

Source: CIMB

https://rfs.cgs-cimb.com/api/download?f ... 8F16A3520D

[winston]

not vested

<Research Report>M Stanley Lifts SUNNY OPTICAL (02382.HK) TP to $170; Rated Overweight

Morgan Stanley raised SUNNY OPTICAL (02382.HK)'s target from $150 to $170, expecting continuous order growth from phone manufacturers.

SUNNY OPTICAL's higher vehicle lens exposure to luxury cars may speed up its business recovery.

SUNNY OPTICAL was rated at Overweight.

Source: AAStocks Financial News

[winston]

not vested

June 29, 2020

<Research Report>CICC Cuts SUNNY OPTICAL (02382.HK) TP to $138; Camera Lens Spec Upgrade May Slow Down

CICC in its research report revised down SUNNY OPTICAL (02382.HK)'s 2020E net profit by 7%, pricing in latent pandemic impacts on price hike this year.

The broker cited SUNNY OPTICAL that optical component upgrade is set to slow down during the second half of the year.

SUNNY OPTICAL was kept Outperform with the target price cut by 1.4% to $138.

Source: AAStocks Financial News

[winston]

not vested

Sunny Optical handset lens shipment volume up in June

Sunny Optical Technology (2382) said the shipment volume of its handset lens sets grew 16.5 percent year-on-year to 117.8 million units in June, a 21 percent growth from May with reduced impact from the overseas epidemic.

Shipment of vehicle lens sets dropped by 11.7 percent from a year ago to 3.67 million units last month, which was mainly due to the impact of the overseas epidemic, said the company.

The figure increased by 44.2 percent compared with May as the continuous work resumption of customers led to the gradual recovery of the company’s shipments, it said.

For the first half this year, the shipment volume of handset lens set totaled 645 million units while that of vehicle lens sets amounted to over 20 million units.

Source: The Standard

https://www.thestandard.com.hk/breaking ... up-in-June

[winston]

not vested

Sunny Optical makes 1.7b yuan

by Winnie Lee

Sunny Optical Technology (2382) yesterday said its first-half net profit of grew 24 percent 1.78 billion yuan.

Revenue rose 21 percent to 18.86 billion yuan, mainly due to the further development of smartphone-related businesses.

Sales of optical components rose 2.4 percent to 3.86 billion yuan.

The gross profit margin was up 1.1 percentage point to 19.5 percent, mainly due to the increased gross profit margin of handset camera modules under optoelectronic products business.

Source: The Standard

https://www.thestandard.com.hk/section- ... -1.7b-yuan

[winston]

not vested

<Blue Chip Results>SUNNY OPTICAL (02382.HK) Interim Net Profit RMB1.749B, Up 22.2%

SUNNY OPTICAL (02382.HK) announced interim result ended June 2020.

The Group’s revenue was RMB18.864 billion, representing an increase of 21.1% compared to the corresponding period of last year.

The net profit was RMB1.749 billion, representing an increase of 22.2% compared to the corresponding period of last year.

According to brokers' forecasts as compiled by our reporters, Sunny Optical's 1H20 net profit may range RMB1.714-1.835 billion.

The median forecast is RMB1.732 billion, up 21% YoY.

EPS was 159.84 fen.

The Directors of the Company did not recommend the payment of an interim dividend for the six months ended 30 June 2020.

Source: AAStocks Financial News

[winston]

not vested

M Stanley: SUNNY OPTICAL (02382.HK) NP In Line; Vehicle Lens Guidance May See Downside Risk

SUNNY OPTICAL (02382.HK)'s 1H20 net profit largely aligned with Morgan Stanley's forecast due to customer diversity.

The stock was kept at Overweight, with a target of $170.

The broker foresaw a downside risk for SUNNY OPTICAL's vehicle lens guidance.

Source: AAStocks Financial News