According to a research report issued by Citigroup on January 27th, it is believed that the recent decline in the share price of 2382.HK largely reflects investors' worries about the company's performance in fiscal year 2021, but the bank is still optimistic about the company's prospects for fiscal year 2022. Affected by weak demand for smartphone products, supply chain shortages and falling average product prices, the bank forecasts revenue growth of 2 per cent to 39 billion yuan for fiscal 2021 and expected profit growth of 9 per cent to 5.3 billion yuan. Citi estimates that the company's potential increase in Apple Inc's share of lenses, a rebound in demand for in-car lenses and modules, and meta-cosmic components will be the driver of Shunyu's growth, which is expected to contribute about 20 per cent of this year's revenue. Citi believes that in view of Shunyu's weak revenue and profit performance in the second half of fiscal 2021 and a more cautious forecast for smartphone products, it cut its fiscal 2021 profit by 16 per cent, but based on an increase in the contribution of car-related products, only fine-tune the profit forecast for fiscal year 2022-2023 by about 6 per cent. The bank lowered its target price for Shunyu from HK $280 to HK $275, maintaining its "buy" rating. The bank is now trading at HK $202.8, with a total market capitalization of HK $222.4 billion.