The APP of Zhitong Finance learned that Credit Suisse released a research report that downgraded Sunny Optical (02382) from "outperforming the market" to "neutral" and lowered its target price from HK $138to HK $129m. Due to the development of AR/VR business in the next few years, operating expenses will be higher, and the lens business portfolio will be more affected than expected, so the 2022-24 earnings per share forecast will be lowered by 21%, 12%, 11%.

The company lowered its full-year guidance for 2022 after interim results, the report said. Credit Suisse forecasts that the company's profits will fall 31% in the second half of the year compared with the same period last year, and has taken into account that the market has digested the weak demand for Android and the worst-case scenario, coupled with the launch of new products such as iPhone, will support Sunny Optical's share price in the short term. However, the bank is still waiting for the prospect of an Android recovery.