China's Sunny Optical slips on slower shipment growth

Sunny Optical Technology Co

10/11/2023 07:57

** Shares of Sunny Optical Technology (Group) Co  2382.HK 
slip 3.4% to HK$66.80
    ** Stock on course to end the week down 1% after four weeks
of gains
    ** Co says October shipment volume of handset camera modules
up 23.1% YoY, but slower than September's 41.1% growth
    ** Citi maintains "neutral" rating, says stock rallied 37%
in the past month and further upside is limited given the
smartphone recovery phase could be moderate and margin
improvement should also be gradual
    ** Daiwa reaffirms "buy" on anticipating co to resume solid
earnings growth in 2024-25 driven by a likely resumption of spec
upgrades for handsets, despite near-term demand uncertainties
    ** Stock down 26.7% YTD

 (Reporting by Donny Kwok)
 ((donny.kwok@thomsonreuters.com))