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<Research>BofAS Expects SUNNY OPTICAL (02382.HK) to Accelerate Expansion in Future on Spin-off of Auto-related Biz, Keeps Buy Rating
Recommend 15 Positive 21 Negative 2 |
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SUNNY OPTICAL (02382.HK) announced that it is considering a spin-off of its vehicle-related optic business for separate listing, including vehicle lenses and modules, as well as other related products such as LiDAR and head-up displays, according to BofA Securities' research report. After the spin-off, the entity is expected to continue as a consolidated subsidiary of SUNNY OPTICAL. However, the Company has not yet disclosed the future shareholding ratio. The broker estimated that its auto business will record RMB7.4 billion in revenue in 2025, accounting for 22% of total revenue. The proposed spin-off suggests that the expansion pace of the auto business may accelerate in the future, especially for camera modules, supported by more substantial domestic and international customer orders. Therefore, BofA Securities kept rating at Buy, with a target price of $104. AASTOCKS Financial News Website: www.aastocks.com |
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