Sunny Optical to See Revenue Dip Continue in 2023, Recovery Expected in 2024

Sunny

China’s Sunny Optical (SEHK: 2382), a manufacturer of integrated optical products, is anticipated to have had a sluggish 2023, with revenues declining across all its segments, resulting in total revenue falling by an estimated -4% year over year in 2023. The company has seen revenues on a decline since the pandemic. This is attributed to a slow recovery in the Chinese economy and weak smartphone sales.

However, analysts anticipate a robust rebound in 2024, fueled by an expected recovery in smartphone lens and camera module shipments and pricing. According to Visible Alpha consensus, the company’s total revenue is projected to increase by +18% year over year in 2024 to CN¥37.7 billion, up from an estimated ¥32 billion in 2023. Further, analysts expect the company’s gross profits to slide by -22% year over year in 2023. Profits are projected to rebound in 2024, surging by +32% year over year to reach ¥6.8 billion.

Sector: Technology
Industry: Electronic Components
VA Ticker(s): 2382_CN