该行表示，舜宇光学2025年上半年业绩超出预期，主要受智能手机毛利率强劲復甦，以及电动车和 XR(扩展现实)领域持续增长推动。公司对2025年全年积极指引显示，其在高端手机镜头(HLS)及手机摄 像模组(HCM)的市场份额持续提升，同时在车载镜头(VLS)和激光雷达(LiDAR)领域保持领先地位。管 理层认为，凭借公司在相关领域的领先地位，将长期受益于XR、物联网及机器人业务的发展。 中银国际发布研报称，维持舜宇光学科技(02382)"买入"评级，基于24倍2026年预测市盈率(相当于1倍市 盈增长率)，将12个月目标价从90港元上调至100港元。该行将舜宇2025年及2026年每股盈利预测分别上 调7%及1%，以反映智能手机和电动车产品组合的改善。 ...

Core Viewpoint - Zhongyin International maintains a "Buy" rating for Sunny Optical Technology (02382), raising the 12-month target price from HKD 90 to HKD 100 based on a 24x projected P/E ratio for 2026, reflecting a 1x earnings growth rate [1] Financial Performance - Sunny Optical's earnings per share forecasts for 2025 and 2026 have been increased by 7% and 1% respectively, due to improvements in the smartphone and electric vehicle product mix [1] - The company's performance in the first half of 2025 exceeded expectations, driven by a strong recovery in smartphone gross margins and ongoing growth in the electric vehicle and XR (extended reality) sectors [1] Market Position and Outlook - The company continues to gain market share in high-end smartphone lenses (HLS) and smartphone camera modules (HCM), while maintaining a leading position in vehicle-mounted lenses (VLS) and LiDAR technology [1] - Management believes that the company's leadership in relevant fields will allow it to benefit long-term from developments in XR, the Internet of Things, and robotics [1]

Core Viewpoint - Daiwa released a report indicating that Sunny Optical Technology (02382) will have stable performance in the first half of 2025, despite shipment volumes not meeting expectations, due to continuous improvement in product mix [1] Group 1: Company Performance - Sunny Optical's smartphone sales growth rate is expected to further increase in the second half of 2025 [1] - Daiwa has reiterated its "outperform" rating for Sunny Optical and raised the 12-month target price from HKD 72 to HKD 85 [1] Group 2: Financial Projections - Based on the continuous improvement in product mix, Daiwa expects an increase in the average selling price and gross margin of Sunny Optical's smartphone lenses (HLS) and smartphone camera modules (HCM) [1] - Earnings per share forecasts for Sunny Optical for 2025 to 2027 have been raised by 12% to 15% [1]

Core Viewpoint - Daiwa's report indicates that Sunny Optical Technology (02382) is expected to have stable performance in the first half of 2025, despite shipment volumes not meeting expectations, due to continuous improvement in product mix [1] Group 1: Company Performance - Sunny Optical's smartphone sales growth rate is anticipated to further increase in the second half of 2025 [1] - Daiwa has reiterated a "Outperform" rating for Sunny Optical and raised the 12-month target price from HKD 72 to HKD 85 [1] Group 2: Financial Projections - Based on the continuous improvement in product mix, the average selling price and gross margin of Sunny Optical's smartphone lenses (HLS) and smartphone camera modules (HCM) are expected to rise [1] - Earnings per share forecasts for Sunny Optical from 2025 to 2027 have been increased by 12% to 15% [1]