On September 23, SUNNY OPTICAL declined 3.06% in regular trading to HKD 65.05, with turnover reaching HKD 353 million, as the stock extended weakness following the formal release of its mid-term report.

The company published its full interim report on September 21, showing first-half revenue of RMB 21.91 billion, up 11.5% year-over-year, while net profit attributable to shareholders rose 9.86% to RMB 1.81 billion. However, overall gross margin slipped to 19.5% from 19.8% a year earlier, with the core handset segment seeing revenue decline 0.75% and segment gross margin contracting 2.0 percentage points to 12.3%. The subsidiary Sunny Oping, currently pursuing an IPO, also flagged continued margin erosion in its car camera business, with consolidated gross margin falling to 30.4%.

Institutional flow data showed persistent selling pressure, with southbound funds reducing holdings on 15 of the past 20 trading days, shedding a cumulative 12.81 million shares. BlackRock also trimmed its stake to 4.99%. While several brokerages maintained positive ratings, Huaxing Securities held a cautious stance with a HKD 68 target, citing limited near-term upside.

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