On the evening of October 11, Sunny Optical Technology, the largest mobile phone lens supplier in the mainland, announced on the Hong Kong Stock Exchange its shipments of major products in September 2022.
According to the data, Sunny Optical’s monthly shipments of mobile phone lenses were 95.56 million units, a month-on-month increase of 3.2% and a year-on-year decrease of 27.9%; mobile phone camera module shipments were 36.933 million units, a year-on-year decrease of 31.2%; vehicle lens shipments were 7.67 million units pieces, a year-on-year increase of 53.2%.
On September 27, before the National Day, UBS issued a research report saying that it maintained the “neutral” rating of Sunny Optical Technology, lowered the EPS estimates for this year and next year by 8% and 7%, and lowered the target price from 110. The Hong Kong dollar was lowered to 90 Hong Kong dollars.
Sunny Optical’s shipments of mobile phone lenses are expected to fall 15% year-on-year this year due to weak demand for Android smartphones, according to a UBS research report.
UBS also said that Sunny Optical’s future performance outlook is under pressure as Sunny Optical still has high business exposure in mid-range to high-end Android smartphones, and demand for high-end Android smartphones remains weak.
Earlier on August 15, the 2022 interim report released by Sunny Optical Technology showed that in the first half of 2022, the operating income was 16.972 billion yuan, a year-on-year decrease of 14.43%; the net profit attributable to the parent company was 1.358 billion yuan, a year-on-year decrease. Down 49.48%.
At the close of Hong Kong stocks on October 11, Sunny Optical Technology (02382.HK) closed at HK$73.65, down 0.47%.