23 Mar 2023
Sunny reported 2H22 revenue decreased by 8.1% YoY to Rmb16,225m, dragged by declined HLS/HCM shipment due to weak smartphone market demand. GPM in 2H22 shrunk by 2.5ppt YoY to 19.0%, due to smartphone de-spec trend and adverse scale impact caused by shipment decline. 2H22 net profit declined 54.4% YoY to Rmb1,050m. FY22 net profit declined 51.7% YoY to Rmb2,408m at the low-end of the profit warning (50-55% YoY decrease). The company proposed HK$0.50 for full year DPS, which represents 20% payout, same as in FY21.