BRIEF: Sunny Optical’s profit surges on smartphone recovery

Optical products manufacturer Sunny Optical Technology (Group) Co. Ltd. (2382.HK) said on Wednesday it expects to report a profit of between 2.63 billion yuan ($360 million) and 2.74 billion yuan for 2024, up 140% to 150% year-on-year.

It attributed the growth mainly to a recovery in the global smartphone market, which fueled a 13.1% year-on-year increase in its handset lens shipments for the year. Robust demand for new energy vehicles (NEVs) and the development of intelligent driver-assistance systems also contributed to rising demand for vehicle lenses. Sunny Optical maintained its leading global position in the automotive lens market, with shipments for that part of its business up 12.7% year-on-year in 2024.

Sunny Optical shipped about 106 million handset lenses in January, up 1% month-on-month and 2.6% year-on-year. The company also shipped 12.8 million automotive lenses during the month, up 102% month-on-month and 6.5% year-on-year. But shipments of its handset camera modules fell to 36.8 million units, down 31.1% month-on-month and 40.9% year-on-year.

The company’s stock opened 0.4% higher at HK$89 on Thursday, then continued to rise and closed at HK$90.5 by the midday break, up 2.14%.

By Lee Shih Ta

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