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SUNNY OPTICAL TECHNOLOGY (GROUP) COMPANY LIMITED

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Sunny Optical's First-Half Net Profit Rose on Higher Shipments

08/16/2021 | 09:28pm EDT

By Clarence Leong

Sunny Optical Technology Group Co.'s first-half net profit rose 54% to 2.69 billion yuan ($415.5 million), thanks to increased shipments of handset lens, camera modules and vehicle lens.

The Chinese company said late Monday that revenue for the period grew 5.1% to CNY19.83 billion, while the gross profit margin widened more than 5 percentage points to 24.9%. Sunny Optical said revenue gains from higher shipment volumes were partly offset by poor sales performance of high-end smartphone models, which caused a significant drop in selling prices of handset camera modules.

Looking ahead, Sunny Optical said it still faces challenges from increasing competition amid a volatile political and economic situation. But an improvement in camera functions "remains the key product differentiation in the smartphone industry," the company said, and it aims to further strengthen research and development investment in new technologies and materials.

Write to Clarence Leong at clarence.leong@wsj.com

(END) Dow Jones Newswires

08-16-21 2127ET

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Financials
Sales 2021 41 769 M 6 492 M 6 492 M
Net income 2021 5 674 M 882 M 882 M
Net cash 2021 7 327 M 1 139 M 1 139 M
P/E ratio 2021 31,8x
Yield 2021 0,60%
Capitalization 181 B 28 068 M 28 075 M
EV / Sales 2021 4,15x
EV / Sales 2022 3,32x
Nbr of Employees 22 723
Free-Float 61,5%
Chart SUNNY OPTICAL TECHNOLOGY (GROUP) COMPANY LIMITED
Duration : Period :
Sunny Optical Technology (Group) Company Limited Technical Analysis Chart | 2382 | KYG8586D1097 | MarketScreener
Technical analysis trends SUNNY OPTICAL TECHNOLOGY (GROUP) COMPANY LIMITED
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Income Statement Evolution
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Mean consensus OUTPERFORM
Number of Analysts 33
Last Close Price 165,06 CNY
Average target price 198,71 CNY
Spread / Average Target 20,4%
EPS Revisions
Managers and Directors
Yang Sun Chief Executive Officer & Executive Director
Liao Ning Ye Chairman
Yu Qing Zhang Independent Non-Executive Director
Hua Jun Feng Independent Non-Executive Director
Yang Dong Shao Independent Non-Executive Director