On July 21st, Gelonghui reported that Sunny Optical Technology (02382.HK) issued an announcement that the group expects to record a company shareholder's share of approximately RMB 1.048 billion to RMB 1.092 billion in profit for the six months ending June 30, 2024, an increase of about 140% to 150% from the company shareholder's share of approximately RMB 0.437 billion in profit for the six months ending June 30, 2023.
The board of directors believes that the expected increase in profit is mainly due to the recovery of the smart phone market, improvement in product mix leading to an increase in shipments of mobile phone lenses and camera modules, average selling price increase and gross margin improvement.