舜宇光学科技二零二五年中期报告

2025Interim Report中報 CONTENTS目錄 2Corporate Profile3Financial Summary4Management Discussion and Analysis28Other Information46Report on Review of Condensed ConsolidatedFinancial Statements48Condensed Consolidated Statement ofProfit or Loss and Other Comprehensive Income50Condensed Consolidated Statement ofFinancial Position52Condensed Consolidated Statement ofChanges in Equity54Condensed Consolidated Statement ofCash Flows57Notes to the Condensed ConsolidatedFinancial Statements103Corporate Information Corporate Profile 2382. H KXRIoT 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. Thedevelopmentand manufacture of these products integrate optics,electronics, algorithm and mechanical technologies and the applicationfields of these products cover vehicles, extended reality (“XR”), paninternet of things (“pan-IoT”), smartphones and optical instruments. Financial Summary MAIN FINANCIAL INDEXES FOR THE FIRST HALF OF 2025 Renminbi (“RMB”) RMB millionGross profit3,894.4+20.0%YoY RevenueRMB million+4.2%YoY19,651.9 RMB millionProfit for the period attributableto owners of the Company1,646.1+52.6%YoY Gross profit margin19.8%+2.6 pptYoY RMB cents+53.0%YoYBasic earningsper share151.6 Net profit margin8.8%+2.9 pptYoY Management Discussion and Analysis MARKET REVIEW In the first half of 2025, the global economy demonstrated resilienceamidmultiple challenges.Although the overall recovery trendcontinued,there were still numerous challenges and uncertainties.Notably, the technology sector emerged as a bright spot in the globaleconomy in the first half of 2025, particularly the rapid development ofartificial intelligence (“AI”) technology, which reshaped the landscapeofvarious industries and brought unprecedented developmentopportunities to the optoelectronics industry. AI ADASTechnoSystemsResearchCo.,Ltd.TSR3.54.3ADAS Inthe first half of 2025,intelligence became the new focus ofcompetition among automotive manufacturers. With the acceleratedpenetrationof advanced driver assistance system(“ADAS”),automobilemanufacturers placed significantly higher demands onsensinglevels.As one of the core sensing hardware components,vehicle cameras experienced a dual breakthrough in both the numberof units installed per vehicle and technological upgrades. According toanalysis by Techno Systems Research Co., Ltd. (“TSR”), the numberof vehicle lens sets per vehicle on newly sold automobiles worldwidewas expected to increase from approximately 3.5 units in 2024 toapproximately 4.3 units in 2025. While iteratively upgrading the pixelsof vehicle cameras, automotive manufacturers have put forward morestringent requirements on the reliability and dependability of camerasincomplex environments.In addition,driven by the dual factorsofadvancing autonomous driving levels and upgrading intelligentinteractionsystem,the importance of vehicle light detection andranging in high-level ADAS vehicles is becoming increasing prominentand the market demand continues to increase. AII D C6009.2% Inthe first half of 2025,the global smartphone market achievedmoderate growth in overall sales, but the growth rate has slowed.However,the rapid advancement of AI technology coupled withthecontinuous investment by smartphone manufacturers inhigh-end smartphones led to the sales volume of high-end modelsoutperforming the market. According to research by International DataCorporation (“IDC”), in the first half of 2025, shipments of high-endsmartphones priced above USD600 recorded a year-on-year (“YoY”)increaseof approximately 9.2%,demonstrating strong resilience.Thetrend towards high-end models has also driven innovation inimagingfunctions,with smartphone manufacturers’requirementsforsmartphone cameras evolving towards optimum sizes andprofessional-gradephotography capabilities.Demand has increased Management Discussion and Analysis OIS significantlyfor miniaturization,ultra-large image size,large-angleopticalimage stabilization(“OIS”)and full-focal-length periscopelenses. The challenges in product material selection, structural design,processoptimization and cost control continued to rise,givingleading manufacturers with vertical integration capabilities a greateradvantage. X RAI Since 2024, the rapid development of lightweight smart glasses hasbecomea new growth driver for the XR industry.Entering 2025,technology giants, smartphone manufacturers, start-ups and traditionalhardware companies have all launched new smart glasses products.Among them, smart glasses with camera functions have become themainstreamproduct form,with camera integration unlocking morecomprehensive functional applications for multi-modal cloud-based AIlar