Morgan Stanley reaffirms its outperform rating on Sunny Optical Technology (02382) and raises its target price to HKD 79.2.

Morgan Stanley predicts that the gross margin of Sunny Optical's (02382) mobile camera module will increase to 7% to 8% in the first half of this year, and the average product price will increase by double digits.

Zhitong Finance04:31 ET

[Brokerage Focus] Huachuang Securities maintains a "strong recommendation" rating for Sunny Optical Technology (02382), expecting it to enjoy the industry dividend as the leading company in the lens industry.

Jingu Finance| Huachuang Securities released a research report stating that Sunny Optical Technology (02382) has released a performance forecast for the first half of 2024: expected net income of 10.48~1.092 billion (YOY 140~150%), with a median of 1.07 billion yuan (YOY 145%). The bank believes that 1) the recovery in demand for smart phones and improved product mix will drive high growth in the first half of 2024. 2) AI may drive a new round of growth for smart phones. 3) AR/VR is still emerging, and optical products for cars are constantly upgrading. As an industry leader, the company continues to expand its products and enjoys the development dividends of the industry.

金吾財訊03:36 ET

HK stocks volatility | Sunnymen Optical (02382) fell more than 4% again. Half-year profits exceeded market expectations, but slowing growth of in-car products may affect the company's valuation.

Suncity Group Optical (02382) fell over 4% again, as of press time, down 4.51% to HKD 46.6, with a turnover of HKD 0.269 billion.

Zhitong Finance22:18 ET

Huachuang Securities: Maintains Sunny Optical Technology (02382) "Strong Buy" rating, target price of HKD 63.4.

Huachuang Securities raised its forecast for the company's net income attributable to shareholders for 2024-2026 to 2.114/2.461/2.799 billion yuan.

Zhitong Finance21:14 ET

[Brokerage Focus] CICC raises Sunny Optical Technology's (02382) target price by 5% due to its better-than-expected earnings.

Jingu Caixun | China CITIC International Securities issued a research report stating that Sunny Optical Technology (02382) released a bullish net income, with expected year-on-year growth of 140%-150%, exceeding market and bank expectations. The bank pointed out that although the specifications of smartphone cameras will have limited upgrades in 2024, the high demand of Apple and Android promotes the growth of HLS (mobile phone lenses) shipments. At the same time, the increase in shipments and the optimization of product mix are bullish for average selling price and gross margin. For 2024, the bank expects HLS to achieve a year-on-year growth of 5%, and CCM (camera module) shipments to grow by 1%. The bank also pointed out that compared with smartphones

金吾財訊20:57 ET

The central bank unexpectedly lowered the policy interest rate, stimulating the Hong Kong stock market to stop falling from its low point.

Last week, the Hang Seng Index fell a total of 875 points or 4.8%, reaching the lowest level in nearly three months since April 26; the Hang Seng Tech Index plummeted by 6.5%, dragging down the entire market. However, China's 1-year and 5-year LPRs were lowered by 10 basis points in July, driving a rebound in Hong Kong stocks today, climbing 181 points in the morning. The Hang Seng Index rose 142 points or 0.9% to 17,560 points in the half-day period; the National Index rose 61 points or 1% to 6,226 points; and the Hang Seng Tech Index rose 59 points or 1.7% to 3,596 points. The total turnover of the market in the half-day period was HKD 53.671 billion, and the net inflow of Shanghai and Shenzhen-Hong Kong stocks in the southbound trading was 2.

金吾財訊Jul 22 05:11 ET