According to the Smart Finance app, Goldman Sachs released a research report stating that it maintains a 'neutral' rating on Shunyu Optical (02382) and lowers its target price from HKD 65 to HKD 60. The company's business data for the first five months of this year showed that the shipments of mobile phone lenses, mobile phone camera modules, and car lenses exceeded expectations. Bullish on the future shipment growth, the expectation reflects that market demand is starting to recover from a low base.

The bank pointed out that the competition in the smart phone market is still fierce and it remains cautious. Market competition may continue to drag down the pace of the rebound in average selling price and gross margin. With the completion of product mix upgrades and continued competition, the gross margin of Shunyu Optical from 2024 to 2026 is expected to remain at 17% to 18%, which is an improvement over the approximately 15% last year, but still lower than the 20% to 23% level from 2019 to 2022.