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- Sunny Optical’s net income for the first half of 2024 is 1.08 billion yuan, significantly higher than the previous year’s 436.7 million yuan and surpassing the estimate of 943.7 million yuan.
- The company reported a revenue increase of 32% year-on-year, reaching 18.86 billion yuan, which exceeded the estimated 16.78 billion yuan.
- Revenue from optical components rose by 27% year-on-year to 5.48 billion yuan, surpassing the estimate of 4.8 billion yuan.
- Optoelectronic products saw a revenue increase of 35% year-on-year, totaling 13.19 billion yuan, which was above the estimated 10.59 billion yuan.
- Revenue from optical instruments dropped by 16% year-on-year to 188.7 million yuan, falling short of the estimated 238.2 million yuan.
- The company’s gross margin was 17.2%, slightly higher than the estimated 17%.
- No interim dividend per share was declared (0 RMB cents).
- Analyst ratings show 37 buys, 6 holds, and 0 sells for the company.
Sunny Optical Technology Group on Smartkarma
Analysts on Smartkarma have varied opinions on Sunny Optical Technology Group. David Mudd‘s report “BUY/SELL/HOLD: Hong Kong Stock Updates (July 22)” highlights the company’s success in the auto lens business, contributing to a positive profit alert. Sunny Optical, along with Minth Group Ltd, is rated a BUY by analysts as they exhibit growth potential. Xiaomi Corp’s achievements in AI-enabled phones and EVs have also prompted analysts to raise forecasts, though the Hong Kong market trades below target prices.
Trung Nguyen‘s analysis in the “Sunny Optical – Earnings Flash – FY 2023 Results – Lucror Analytics” report paints a slightly different picture, noting a decline in revenue and gross profit for FY 2023 due to lower shipments of handset-related products. Despite these challenges, the company maintains a healthy financial risk profile with a large net cash position. Nguyen forecasts a stabilizing industry environment and expects positive revenue and earnings growth in FY 2024, indicating a potential turnaround for Sunny Optical moving forward.
A look at Sunny Optical Technology Group Smart Scores
Factor | Score | Magnitude |
---|---|---|
Value | 3 | |
Dividend | 2 | |
Growth | 2 | |
Resilience | 4 | |
Momentum | 2 | |
OVERALL SMART SCORE | 2.6 |
Smart Score is a compound score for the Company indicating its overall outlook. It is derived by taking an equally weighted average of underlying Factor scores computed by Smartkarma
According to Smartkarma Smart Scores, Sunny Optical Technology Group is deemed to have a favorable long-term outlook based on an overall positive assessment of its Value, Resilience, and Growth factors. While the company’s Value score sits at a solid level of 3, indicating a reasonable valuation, its Resilience score of 4 suggests a strong ability to weather challenging market conditions. However, Sunny Optical Technology Group‘s scores for Dividend, Growth, and Momentum stand at 2, signifying areas that may require further attention.
Sunny Optical Technology Group Co., Limited specializes in designing and manufacturing optical products such as lenses, prisms, and various instruments including mobile phone camera modules and microscopes. The company’s diversified product portfolio positions it well within the optical technology industry. With its promising outlook on key factors like Value and Resilience, Sunny Optical Technology Group appears to be on track for long-term success in a competitive market.
Disclaimer: This article by Smartkarma is general in nature and based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. Note that our articles may not factor in the latest price-sensitive company announcements or qualitative material.
While all reasonable care has been taken in the preparation, Smartkarma makes no assurance about the accuracy of any generated data or content. All content is indicative only and should be independently checked for accuracy and confirmed before use. Smartkarma accepts no responsibility for any loss or damage caused as a result of any inaccuracy or error within the Lab online tools or generated data.
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