Sunny Optical sees profit rising by 150pc

Apple supplier Sunny Optical Technology (2382) yesterday said its net profit for the first half of 2024 is expected to increase by 140 percent to 150 percent to between 1.04 billion yuan (HK$1.12 billion) and 1.09 billion year-on-year.

The expected increase was primarily attributable to the recovery of the smartphone market, while the improvement in product mix also led to a year-on year increase in shipments of handset lens sets and handset camera modules, with increasing average selling prices and improving gross margins, it said in a profit alert.

Sunny Optical's main products include mobile phone lenses, automotive lenses, high-pixel lens lights, camera modules and others. The firm also makes smartphone parts for Chinese brands including Huawei, Oppo and Vivo.

The interim results will be released next month.

Nancy Li