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[Brokerage focus] Guosen Securities maintains its 'outperform' rating on Sunny Optical Technology (02382) and is bullish on the company's rapid development in the field of automotive optical.
Guosen Securities released a research report stating that Sunny Optical Technology (02382) has announced its positive profit forecast for the first half of 2024, with an expected net income attributable to shareholders of 1.048-1.092 billion yuan (+140% to 150% YoY). The growth in profits is mainly due to the recovery of the smart phone market, the improvement of the company's product portfolio which leads to an increase in the annual shipment volume and average selling price of mobile phone lenses and camera modules, and the improvement of gross margin. The bank is bullish on the performance recovery of mobile phone lenses and camera modules brought by the upgrade of smart phone camera configurations, and is optimistic about the rapid development of the company's automotive optical field. Considering
Tianfeng Securities is bullish on the recovery of passive component demand and the increase in AI demand.
In the second quarter of 2024, the mobile phone market showed signs of recovery, with a year-on-year increase of 6.5% in shipments. Honor and ByteDance deepened their cooperation on the large-scale model of AI, empowering the development of the mobile phone market with AI.
Guosen Securities: Sunny Optical (02382) is expected to have a 140%-150% increase in net income attributable to shareholders in the first 24 hours of 2024, maintaining an "outperform" rating in the market.
Guosen Securities predicts that Sunny Optical (02382) will have a net income attributable to shareholders of 2.288/2.687/3.231 billion from 2024 to 2026.
[Brokerage Focus] China Merchants Securities maintains a shareholding rating for Sunny Optical Technology (02382), expecting its XR business to grow in the long term with the market and new products.
According to the research report released by China Merchants Securities, Sunny Optical (02382) announced its semi-annual performance forecast on July 21, with a net income attributable to shareholders of the listed company of 10.48-1.092 billion yuan in H1 2024, a year-on-year increase of 140% to 150%. The bank believes that the company's mobile phone business is expected to benefit from the recovery of mobile phone demand in 2024 and the optical imaging innovation trend of Android high-end models, and the lens and camera module will achieve simultaneous growth in shipments, ASP, and gross margin; meanwhile, the product share of North American and South Korean customers is expected to continue to rise, opening up growth space for the next three years. Car integration business.
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.
[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.
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