According to the research report released by Zhaoxin International, Sunny Optical Technology (02382) has a "hold" rating. Considering its leading technology position, strong product roadmap, and customer base, it is believed that the company will benefit from the next round of expansion cycle driven by AI, with a target price of HK$ 47.31. On June 25, Sunny Optical was invited to participate in the bank's Tech Day conference, and customers were very interested in the company and received positive information.

The report states that the main highlights of Sunny Optical include: 1) the smart phone market: the management will increase the global/China smart phone shipment forecast by 1.7%/1.1% to 11.7 billion/276 million units (year-on-year growth of 3.5%/0.4%); 2) phone module/phone lens: ASP/GPM in 2024 will resume the right track, thanks to the upgrade of specifications (such as AI phones), easing competition, increasing market share of high-end customers, and higher capacity utilization; 3) car lens: GPM maintains over 40%, and continuous growth of auto modules promotes profitability; 4) XR business: diffractive light waveguide will become the mainstream of XR equipment, and AR glasses will become the next computing platform.