HK Stock Market Move | Sun Yoo Optics (02382) rose more than 7% during trading, with the company aiming to be among the top three global suppliers of automotive lens modules in the next 3 to 5 years.

Shun Yu Optics (02382) rose by more than 7% in midday trading, and as of the time of writing, it had risen by 4.07% to 65.2 Hong Kong dollars, with a turnover of 7.16 billion Hong Kong dollars. On the news front, Shun Yu Optics recently held an investor day, with Citigroup quoting Shun Yu management as saying that global demand for automotive lenses is expected to increase by 26% annually to over 400 million by 2025, driven by the development of intelligent driving in mainland China. The management also expects its market share to further increase. The company aims to become one of the top three suppliers of automotive lens modules globally in the next 3 to 5 years, with overseas revenue accounting for 35% in the future, up from the current approximately 10%. Nomura stated that Shun Yu Optics management is more optimistic about the prospects of the automotive lens business. The company's global shipments of automotive lenses are expected to increase from 340,000 units to over 400,000 units this year, driven by the increasing adoption rate of ADAS in China. In addition, Shun Yu aims to increase its market share this year. The company currently holds a 3% market share in the automotive camera module market, and its goal is to be among the top three companies in the industry in the next 3 to 5 years. Shun Yu expects global smartphone shipments to grow by around 1% this year, lower than the previous forecast of 2 to 3%, and expects that the growth of the Chinese smartphone market will surpass the global market.