Summary by Moomoo AI
Sunny Optical Technology (Group) Co., Ltd. announced its mid-term performance for the six months ended June 30, 2024. Unaudited revenue was approximately RMB 18.86 billion, a year-on-year increase of 32.1%; gross profit was approximately RMB 3.25 billion, a year-on-year increase of 52.4%, and gross margin increased from 14.9% in the same period last year to 17.2%. Shareholders of the company should account for approximately RMB 1.079 billion in net profit for the period, a significant increase of 147.1% from the same period last year. The growth is mainly due to the recovery of the smart phone market, the increase in sales of phone lenses and camera modules, and the increase in revenue from onboard camera and module business. During the period, the company continued to increase its research and development investment in the automobile and XR related business, and made technological breakthroughs in the intelligent inspection equipment business. The board of directors of the company recommends not to distribute interim dividends.