Sunny Optical: Key Takeaways from 2026 Investor Day

研报英文原文证据摘录

Sunny Optical: Key Takeaways from 2026 Investor Day

Update

June 24, 2026 02:29 PM GMT

Morgan Stanley Asia Limited+MSunny Optical | Asia Pacific Andy Meng, CFA

Equity Analyst

Key Takeaways from 2026 Andy.Meng@morganstanley.comBetty Chen +852 2239-7689

Research Associate

Betty.H.Chen@morganstanley.com +852 2239-7213

Investor Day Morgan Stanley Taiwan Limited+

Sharon Shih

Key Takeaways Sharon.Shih@morganstanley.com +886 2 2730-2865

Smartphone and vehicle-related businesses will be the key revenue and earnings

contributors.

Optical communications are the new growth driver; Sunny will make strong

efforts to develop.

Components business for humanoids and AI glasses will be another key long- Sunny Optical (2382.HK, 2382 HK)

term growth driver. Greater China Technology Hardware | China

Stock Rating Equal-weight

Industry View In-Line

1. The company will leverage its optical know-how to penetrate the optical Price target HK$62.00

communications business. Management expects to generate revenue from optical Shr price, close (Jun 24, 2026) HK$75.90

52-Week Range HK$91.40-51.50

transceivers in 2027. Meanwhile, it is also making R&D efforts in different Sh out, dil, curr (mn) 1,093

components for optical communications applications. Mkt cap, curr (mn) Rmb71,852.0

EV, curr (mn) Rmb72,261.0

Avg daily trading value (mn) HK$871

2. Despite weaker-than-expected auto industry growth, the penetration of vehicle

lenses and LiDAR continues to accelerate. As a result, Sunny's vehicle-related

business maintains positive growth momentum.

3. Smartphone-related demand, especially from Android clients, is facing headwinds.

However, the demand from North American clients remains healthy and revenue

growth is on track.

4. The company believes humanoid robots are the ultimate form of physical AI. AI