Company Update: Awaiting demand recovery for core optical business
- Expect revenue to drop by 4% in FY23, due to weaker demand for optical cable products
- Weak cable demand to sustainbe maintained in FY24; expect cable revenue to decline another rease by 4% in FY24
- Forecast earnings drop of 4% in FY23, before mild recovery of and growth of 2% and 5% in FY24 and FY25, respectively
- Maintain HOLD on muted near-term demand outlook for its core optical cable business; TP of HK$8.3