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DBS: Sunny Optical Technology Group Co Ltd – Buy Target Price HK$94.80

Posted on October 14, 2022October 14, 2022 By alanyeo No Comments on DBS: Sunny Optical Technology Group Co Ltd – Buy Target Price HK$94.80
Handset-related shipment dragged by headwinds; other drivers remain strong
  • Cut handset lens shipment growth from -14%/19% to -17%/8% for FY22/FY23
  • Forecast of other losses enlarged from Rmb27m to Rmb147m due to unrealised loss from depreciation of RMB against USD
  • Cut FY22/23/24F net profit by 11%/13%/10% to factor in changes in shipment forecast and exchange losses
  • TP lowered to HK$94.8 on a lower FY22F EPS; maintain BUY based on its undemanding valuations
Sunny-Optical_12-Oct-2022_HK_CUClick here to Download Full Report in PDF

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Research - Equities Tags:Sunny Optical

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