On June 11th, Gloniu announced that Shunyu Optics (2382.HK) shipped 104 million mobile phone lenses in May, a year-on-year increase of 9.6%, and the shipment volume of car-mounted lenses increased by 9.9% over the period. The shipment volume of mobile phone camera modules fell by 6.9%. Goldman Sachs released a report maintaining a "neutral" rating for Shunyu and a 12-month target price of HKD 65. In the face of the saturated smartphone market and fierce competition, the bank is more positive about newcomers such as AAC Tech (2018.HK) and OFILM Group Co., Ltd.(002456.SZ) than Shunyu and Daliguang, mainly because they have greater room for growth in terms of shipping scale and product upgrades. The bank has given Shunyu a target price of HKD 65, equivalent to a forecasted PE ratio of 25 times in 2024, similar to the company's historical average, to reflect the expectation of a gradual recovery in 2023 from a low base year.
大行评级丨高盛：维持舜宇中性评级，较看好瑞声、欧菲光
Goldman Sachs: maintains neutral ratings for Sunlord, relatively bullish on AAC Technologies and OFILM Group Co., Ltd.
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