SUNNY OPTICAL(HK:02382) CICC·2024-03-09 16:00Group 1 - The investment rating for the company is "Outperform" with a target price of HKD 81.90, indicating a potential upside of 64.3% from the current price of HKD 49.85 [1][8]. - The report highlights that the company's mobile optical module shipments reached 52.067 million units in February, representing a year-on-year growth of 72.1% and a month-on-month decline of 16.4% [5][7]. - The automotive-related products saw a shipment of 7.085 million units in February, reflecting a year-on-year decline of 1.5% and a month-on-month decline of 35.2% due to the impact of the Chinese New Year holiday [5][7]. Group 2 - The report projects the company's revenue to grow from HKD 33.197 billion in 2022 to HKD 38.914 billion by 2025, with a compound annual growth rate (CAGR) of approximately 4.1% [1][8]. - The net profit attributable to the parent company is expected to recover significantly from HKD 1.186 billion in 2023 to HKD 2.834 billion in 2025, indicating a growth rate of 21.5% in 2025 [1][8]. - The company maintains a strong market position in the mobile optical industry, benefiting from a comprehensive customer base and competitive product offerings, particularly in the Android segment [7][8].