Glonghui, March 22 | Lyon released a report saying that Ruisheng's performance in the second half of last year beat expectations, mainly due to narrowing losses in the optical business and improved profit margins of all product lines. The gross margin of the optical business increased 7.8 percentage points compared to the first half of the year, and the target is to profit in the second half of this year. The acoustics business benefited from strong high-end demand in the second half of last year, while the machinery business also benefited from increased demand for metal housings and the launch of new products. The bank expects the automotive acoustics business to begin contributing this year. It believes that Ruisheng has returned to a growth trajectory and has a reasonable valuation. It raised its target price from HK$16 to HK$26.1, and raised its rating from “outperforming the market” to “outperforming the market”.