Intelligent Finance APP learned that Zheshang Securities released a research report stating that considering the comprehensive layout of software and hardware facilities and internal growth-driven factors, it is expected that Xiamen Xiangyu (600057.SH) will have a net profit attributable to the parent company of 1.211 billion yuan, 1.435 billion yuan, and 1.683 billion yuan from 2020 to 2022, with year-on-year increases of 9.50%, 18.46%, and 17.35%, respectively, corresponding to EPS of 0.56 yuan, 0.66 yuan, and 0.78 yuan. From a growth perspective, the company's compound annual growth rate of net profit attributable to the parent company from 2020 to 2022 is 17.90%, and the PEG of the corresponding 2021E PE is 0.52, which is significantly lower than the valuation relative to the growth. Zheshang Securities believes that the reasonable valuation of the company is around 15 times PE, the reasonable market cap of the 2021 net profit attributable to the parent company is about 21.5 billion yuan, and the relative price still has about 58% room for growth. The first coverage is given a "buy" rating.$SUNNY OPTICAL (02382.HK)$Up nearly 3%, as of the press release, it rose by 2.64%, closing at HK$62.10, with a turnover of 0.614 billion HKD.

On the news front, Sunny Optical recently announced that Mr. Sun Yang has resigned as an executive director and CEO of the company, no longer serving as a member of the board of directors' strategy and development committee, effective from November 26, 2024. On the same day, Mr. Wang Wenjie, an executive director, has been appointed as CEO. CMB International pointed out that Wang Wenjie has received praise from both major customers and major shareholders inside and outside Sunny Optical. They have set a target price of HK$72.52 for Sunny Optical and maintained a 'buy' rating.

Macquarie released a research report stating that sunny optical remains in its selected stock list, benefiting from the turnaround of its business fundamentals (improved average selling price and profit margin), increased demand for flagship smartphones, and lens upgrades. They maintained their profit forecast, upheld a 'outperform' rating for Sunny Optical, with a target price of HK$76.2. The bank pointed out that Wang Wenjie has been serving as an executive director at Sunny Optical since December 2013, with rich experience within the company, including overseeing the lens module business. The bank expects a smooth transition for the CEO role in the short term.

Editor/ping