Group 1 - Goldman Sachs released a report indicating that Sunny Optical Technology (02382) management expressed a positive outlook on the company's profitability improvement, driven by the trend of smartphone lens specification upgrades [1] - Goldman Sachs forecasts that the company's gross margin will rebound to 19.7% and 20.2% in 2023 and 2024, respectively, compared to 14.5% and 18.3% in the past two years, but still below the 22% to 23% levels seen in 2020 and 2021 [1] - Goldman Sachs maintains a "Neutral" rating on Sunny Optical, adjusting profit forecasts for 2025 to 2027 upwards by 10%, 2%, and 2%, while keeping revenue forecasts largely unchanged and increasing gross margin forecasts by 0.5, 0.2, and 0.1 percentage points [1] Group 2 - The target price for Sunny Optical has been raised from HKD 89 to HKD 91.1 [1]

Group 1 - Goldman Sachs released a report indicating that Sunny Optical Technology (02382) management expressed a positive outlook on the company's profitability improvement, driven by the trend of smartphone lens specification upgrades [1] - Goldman Sachs forecasts that the company's gross margin will rebound to 19.7% and 20.2% in 2023 and 2024, respectively, compared to 14.5% and 18.3% in the past two years, but still below the 22% to 23% levels seen in 2020 and 2021 [1] - Goldman Sachs maintains a "Neutral" rating on Sunny Optical, adjusting profit forecasts for 2025 to 2027 upwards by 10%, 2%, and 2%, while keeping revenue forecasts largely unchanged and increasing gross margin forecasts by 0.5, 0.2, and 0.1 percentage points [1] Group 2 - The target price for Sunny Optical has been raised from HKD 89 to HKD 91.1 [1]

Core Viewpoint - Goldman Sachs reports that Sunny Optical Technology's management is optimistic about the improvement in the company's profitability, driven by the trend of smartphone camera specifications upgrading [1] Group 1: Financial Performance - The company expects its gross margin to recover to 19.7% and 20.2% in 2023 and 2024, respectively, compared to 14.5% and 18.3% in the past two years [1] - The gross margin is still below the levels of 22% to 23% achieved in 2020 and 2021 [1] Group 2: Earnings Forecast - Goldman Sachs has raised its earnings forecasts for 2025, 2026, and 2027 by 10%, 2%, and 2%, respectively [1] - The gross margin forecasts have been adjusted upward by 0.5, 0.2, and 0.1 percentage points for the same years [1] Group 3: Price Target and Rating - The revenue forecasts remain largely unchanged, while the target price has been increased from HKD 89 to HKD 91.1 [1] - The rating is maintained at "Neutral" [1]