Macquarie: Maintaining Sunyu Optical Technology's (02382) “Outperform the Market” rating target price of HK$76.2

The Zhitong Finance App learned that Macquarie released a research report saying that it will maintain Shunyu among its selected stocks, benefiting from changes in business fundamentals (improvements in average sales prices and profit margins), rising demand for flagship phones, and camera upgrades. Maintain the profit test and maintain the “outperform the market” rating of Shunyu Optical Technology (02382). The target price is HK$76.2.

The report quoted Shunyu Optical Technology as announcing that Sun Yang has resigned as the company's executive director and CEO due to physical reasons and considerations for the future development of the group; Executive Director Wang Wenjie has been appointed as CEO, effective today (26th).

The bank expects that Sun's resignation as CEO will have limited impact on the company's daily operations, as various business segments of Shunyu are managed by several key personnel. Wang Wenjie has been the executive director of Shunyu since December 2013. He has extensive experience within the company, including managing the lens module business. The company's CEO function can be smoothly transitioned in the short term.