Lyon: Maintains an "outperform" rating on Sunway Optical Technology (02382.HK) with a target price of 88.6 Hong Kong dollars.

According to the Securities Times APP, Lyon released a research report stating that it maintains a "outperform" rating on Sunny Optical Technology (02382.HK) with a target price of 88.6 Hong Kong dollars. Sunny Optical held an investor day yesterday, citing management as saying that although smartphone shipments are stable, the value of the smartphone market is expected to grow by 7% this year. The company expects shipments of glass-plastic hybrid lenses to increase more than four times year on year to meet the optical upgrade demand for long-focus telescopes and small/thin main cameras. The group also believes that using Chinese automotive brands will drive strong growth in automotive lens component shipments. The report stated that as the penetration of smart driving in China and overseas increases, Sunny Optical's demand for automotive lenses and modules is strong, and its leading technology in XR and robotics should provide long-term growth momentum.