SUNNY OPTICAL (02382) announced its expected net profit attributable to shareholders for the year 2024 to be approximately 26.39 billion to 27.49 billion yuan, representing a year-on-year increase of approximately 140.0% to 150.0%.

SUNNY OPTICAL (02382) announced that the group expects to achieve a net profit attributable to shareholders of approximately RMB 26.39 billion to RMB 27.49 billion for the year ending December 31, 2024, an increase of about 140.0% to 150.0% compared to the year ending December 31, 2023, which was approximately RMB 10.99 billion. The Board believes that the expected increase is mainly due to the following reasons: 1. Recovery in the smartphone market. The global smartphone market is expected to recover in 2024, with a year-on-year growth in shipments of about 6.0-7.0%, driven by strong sales of high-end models and integration of artificial intelligence on the hardware side. The recovery in the smartphone market has led to a year-on-year increase in the company's shipments of phone lenses of about 13.1%. Additionally, improvements in product portfolio have led to an increase in the average selling price and gross margin of the company's phone lenses and camera modules; and 2. Strong demand for electric vehicles. The global automotive market is steadily growing, with strong demand for electric vehicles. At the same time, the development of smart assisted driving systems has increased the adoption rate of car lenses. The company maintains a leading position in the automotive lens market, with shipments increasing by about 12.7% year-on-year.