Sunny Optical 2382

[winston]

vested

<Research>UBS Chops SUNNY OPTICAL (02382.HK) TP to $67, Rating Lowered to Sell

UBS released a research report downgrading SUNNY OPTICAL (02382.HK) from Buy to Sell and lowering its target price from HKD70 to HKD67.

This adjustment primarily reflected concerns over the stock’s stretched valuation, with positive earnings factors already priced in by the market, while demand risks persisted.

UBS noted that Sunny Optical’s positive profit alert released last month, combined with the Chinese central government's subsidy support, drove strong shipment volumes in January, boosting its share price radically.

Related News: DBS Elevates SUNNY OPTICAL's TP to $110, Rating Kept Buy

However, uncertainties surrounding market demand remained due to U.S. tariffs and macro risks.

Moreover, market share growth, particularly for iPhone orders, will take time, despite the market’s aggressive forecasts of 24% and 19% EPS growth for FY2025 and FY2026, respectively.

Source: AAStocks Financial News

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

[winston]

vested

<Research>CCBI Drops SUNNY OPTICAL (02382.HK) TP to $98; 2H24 Rev./ NP in Line

SUNNY OPTICAL (02382.HK)'s 2HFY2024 revenue grew 12% YoY, in line with market consensus, CCBI released a research report saying.

Of which, handset lens sets (HLS) and vehicle camera modules were the main driving factors.

Operating profit rose 23% YoY, with an operating margin of 6.5%, in line with the Company's profit alert.

Net profit increased 145% YoY and 50% HoH, in line with expectations.

Therefore, CCBI dropped its target price on SUNNY OPTICAL to $98, with rating kept at Outperform.

Source: AAStocks Financial News

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

[winston]

vested

Takeaways From Taiwan NDR

We hosted an NDR with Sunny Optical in Taiwan last week.

Questions were mostly related to impacts from the trade war, the vehicle business, handset business’ recovery and some upcoming prospects such as XR and robotics vision.

Overall the investors have turned more positive on Sunny’s outlook compared with half a year ago, but we also believe that investors would prefer a bit more visibility on trade deals before turning positive on the market.

Maintain BUY. Target price: HK$100.00.

Source: UOBKH

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

[winston]

not vested

Sunny Optical lens set deliveries increase in April

Apple supplier Sunny Optical Technology (2382) said it delivered 103 million handset lens sets in April, up 1.3 percent from the same period a year ago.

Some 11.57 million units of vehicle lens sets were recorded last month, a year-on-year growth of 28.9 percent.

However, handset camera modules saw a decline of 14.1 percent to 39.25 million units, mainly due to an improved product mix following the company’s devoting its focus toward mid- to high-end projects.

In the first four months, Sunny Optical Technology's handset lens sets saw a total of about 400 million pieces, down 5.1 percent year-on-year, while vehicle lens sets amounted to over 43 million pieces, up 15.5 percent.

Source: The Standard

https://www.thestandard.com.hk/market/article/302289/