Sunny's shares shine as shipments rise 17pc

Apple supplier Sunny Optical (2382) surged 12 percent after reporting a 17 percent year-on-year increase in the shipment of its handset lens sets for last month.

The company's share price concluded at HK$59.2 yesterday, representing a 12.23 percent increase from the closing price of the preceding trading day.

In September, Sunny Optical witnessed a 16.9 percent year-over-year surge in the shipment volume of handset lens sets, reaching 111.7 million units. This increase was primarily attributed to a low base resulting from weak demand in the overall smartphone market during the same period last year.

Meanwhile, Nikkei Asia reported that Huawei has been stockpiling components for months with an aim to ship between 60 to 70 million smartphones in 2024.

Besides accumulating supplies such as lenses, cameras, printed circuit boards and other smartphone components throughout the year, Huawei reportedly requested Qualcomm to deliver its full-year chip order by June 2024, anticipating potential additional export controls by the US. Huawei shipped only 30.5 million smartphones in 2022, ranking tenth globally according to IDC.

In other news, Chinese smartphone maker Vivo said it will take all feasible legal measures after one of its executives was arrested in India on suspicion of money laundering.