舜宇光学科技二零二四年中期报告

CONTENTS目錄 2Corporate Profile3Financial Summary4Management Discussion and Analysis25Other Information55Report on Review of Condensed ConsolidatedFinancial Statements57Condensed Consolidated Statement ofProfit or Loss and Other Comprehensive Income59Condensed Consolidated Statement ofFinancial Position61Condensed Consolidated Statement ofChanges in Equity63Condensed Consolidated Statement ofCash Flows66Notes to the Condensed ConsolidatedFinancial Statements111Corporate Information Corporate Profile 2382.HK)XRXRXR Sunny Optical Technology (Group) Company Limited (the “Company”or “Sunny Optical Technology”, together with its subsidiaries, the“Group”) (Stock Code: 2382.HK) is a global leading integrated opticalcomponentsand products manufacturer.The Group is principallyengagedin the design,research and development(the“R&D”),manufacture and sales of optical and optical-related products. Suchproductsinclude optical components(such as vehicle lens sets,optical parts of vehicle light detection and ranging (“LiDAR”), extendedreality (“XR”) perception and interaction lens sets, handset lens sets,glass spherical and aspherical lenses and other optical components)(the “Optical Components”), optoelectronic products (such as vehiclemodules, XR visual modules, handset camera modules, robotic visionsubsystems and other optoelectronic modules) (the “OptoelectronicProducts”)and optical instruments(such as intelligent inspectionequipment and microscopes) (the “Optical Instruments”). The Groupfocuses on the optoelectronic-related products that combine optics,electronics, algorithm and mechanical technologies in the applicationfields mainly including vehicles, XR, robots and handsets. Financial Summary MAIN FINANCIAL INDEXES FOR THE FIRST HALF OF 2024 Renminbi (“RMB”) RMB millionGross profit3,246.5YoY+52.4% Revenue18,860.2RMB million+32.1%YoY RMB millionNet profit1,111.5YoY+142.0% Gross profit margin17.2%YoY+2.3ppt RMB centsYoY+147.7%Basic earningsper share99.0 Net profit margin5.9%YoY+2.7ppt Management Discussion and Analysis MARKET REVIEW Looking back to the first half of 2024, it was observed that the globaleconomy tended to maintain a stable growth, although the growth ratewas still below the level before the pandemic. Geopolitical conflicts,inflationary pressures, sluggish international trade and other factorscontinued to drag the recovery of the global economy. However, theeconomy of the People’s Republic of China (the “PRC” or “China”)generallymaintained stable with steady progress made in thetransformation and upgrading. In the first half of 2024, the global automobile market achieved steadygrowthof sales volume,and the new energy vehicles maintainedrelatively fast growth of sales volume. Among them, overall vehiclemarket and new energy vehicles in China also achieved favourabledevelopment. According to the data from the China Association ofAutomobileManufacturers,the production and sales volume in theChina’s automobile market in the first half of the year experiencedayear-on-year increase of approximately 4.9%and approximately6.1%, respectively, of which those of new energy vehicles experiencedasignificant year-on-year increase of approximately 30.1%andapproximately32.0%,respectively.At the same time,with thedevelopmentof the trend of automobile electrification,digitalizationandintelligence,the market demand for cameras,which areimportant parts of intelligent driving systems and intelligent in-cabinsensing systems, achieved a continuous growth, which brought newindustryopportunities for camera manufacturers in the automobilefield.Furthermore,the market raised higher requirements on theperformanceand quantity of vehicle cameras,LiDAR and othersensing hardware, which further expanded the applications of opticalproducts. ,4.9%6.1%30.1%32.0% XRVisionProAIAIARVRARAR In the first half of 2024, the XR market was still facing challenges.Despite some positive signals brought by the launch of Vision Pro,the market did not usher in the boom as expected. However, withtherapid development of artificial intelligence(“AI”)technology,augmentedreality(“AR”)products integrated with AI have shownstronger growth potential than virtual reality (“VR”) products, whichhaveattracted numerous worldwide technology giants,start-upsand smartphone brand manufacturers to start setting foot in the ARindustry.Perception and display technologies experienced rapiddevelopment in different technological paths, accumulating power forthe future outbreak of AR industry. Management Discussion and Analysis Benefiting from the gradual recovery of global macro-economy, thedemand of smartphone market was recovering. The global shipmentvolume of smartphones in the first half of 2024 was approximately574,800,000 units, representing an increase of approximately 7.1%compared to the same period of last year (data source: InternationalDataCorporation).The development of the smartphone industrywasbecoming more polarized,and high-end smartphones wer