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| HSI1 | 18,475.92 | +268.79 | 116.19B |
| HSCEI1 | 6,547.29 | +110.20 | 55.14B |
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2024-04-25 10:07:05 Citi Research noted in a report that Sun Xu Limited, the largest shareholder of SUNNY OPTICAL (02382.HK) with 35.48% of the company's shares, has entered into a collar option transaction with UBS Group, involving 44.57 million shares, or about 4% of the outstanding shares. Sun Xu has not announced the reason for the deal, and Citi expected it may be due to its own financing needs rather than a change in its shareholding position in SUNNY. The broker would wait for SUNNY to make a further announcement on the matter. Citi's current target price for SUNNY is $63.5, which is about 30x 2024 projected P/E, mainly reflecting the earnings recovery from the periscope cameras upgrade, the improvement of handset lenses gross margins, and further growth in the automotive/XR business. The broker gave it a Buy rating. ~ AAStocks Financial News Web Site: www.aastocks.com | |