[ET Net News Agency, 14 February 2018] Moody's Investors Service said that Sunny
Optical Technology (Group) Company Limited's (02382) announcement of an expected
improvement in the profit attributable to its owners for the year ended 31 December 2017
(2017) supports its Baa2 issuer rating and senior unsecured rating.
The ratings outlook remains stable.
"Sunny Optical's announcement of an improvement in profits for 2017 versus 2016 is
consistent with Moody's expectations," said Gerwin Ho, a Moody's Vice President and Senior
Analyst.
On 12 February 2018, Sunny Optical announced that it expects to record for 2017 a
substantial increase in the profit attributable to its owners with a rise of more than
120% year-on-year from 2016.
The expected rise is mainly attributable to 1) the strong year-on-year increase in the
shipment volumes of mobile phone lens sets, vehicle lens sets, and mobile phone camera
modules, and 2) a better product mix, reflecting in turn higher average selling prices and
better gross margins for mobile phone lens sets and mobile phone camera modules.
Sunny Optical's shipment volumes of mobile phone lens sets, vehicle lens sets, and
mobile phone camera modules posted strong growth of 60%, 41% and 20% year-on-year
respectively in 2017.
Its growth in shipment volumes mainly reflected the growing number of cameras in mobile
phones, the rising penetration of cameras in automobiles, and gains in market share. (KL)