According to Citigroup's research report, Sunyu Optics announced the March shipment volume after closing on April 9. Among them, shipments of mobile phone lenses and car lenses are in line with expectations; mobile camera modules are lagging behind, but shipments are expected to pick up this month due to new product models. Citi expects automotive lens shipments to increase by 8 to 8.5 million units in April as Europe and Japan are on track and local NEV sales are picking up. The bank's target price for the company is HK$63.5, and the rating is “buy”.