Short term pain, long term gain

Sunny Optical | 2382.HK Rating BUY Maintain Short term pain, long term gain Target Price HKD 49.37 From: HK$74.94 Current price HKD 37.45 Upside:+31.8% FY23 result a miss, de -spec and interest cost weigh on earnings Company Update S unny’s FY23 result disappoints market, with revenue and net income came in at RMB31,681mn/1,099mn respectively (-4.6%/-54.3%Yoy). Sunny’s topline was ~2% below Bloomberg consensus and our estimates, 18 April 2024 while net income arrived at the low-end of the profit warning ale ...