Sunny Optical Technology (group) Co., Ltd. · HKEX:2382
Sunny Optical Technology (group) — H1 2022 Earnings Presentation
29 slides from Sunny Optical Technology (group)'s earnings presentation, August 2022
Slide 1: 2022 Interim Results Corporate Presentation
SUNNY OPTICAL TECHNOLOGY (GROUP) COMPANY LIMITED 舜宇光學科技（集團）有限公司 (Incorporated in the Cayman Islands with limited liability) (Stock Code: 2382.HK) 2022 Interim Results Corporate Presentation August 2022
Slide 2: Disclaimer
Expert in Disclaimer Optics The information contained in this presentation is intended solely for your personal reference. Such information is subject to change without notice, its accuracy is not guaranteed and it may not contain all material information concerning Sunny Optical Technology (Group)
Slide 3: Agenda
Expert in Optics Agenda 1 Financial Overview 2 Operation Review 3 Outlook 4 Appendix
Slide 4: Financial Overview
Expert in Optics 1 Financial Overview
Slide 5: Performance in Line with Overall Market Situation
Expert in Performance in Line with Overall Market Situation Optics 1H21 1H22 Change (RMB mn) Revenue 19,833.4 16,971.8 -14.4% Gross Profit 4,946.4 3,522.4 -28.8% Profit Before Tax 3,229.0 1,683.8 -47.9% Income Tax Expense (522.3) (304.9) -41.6% Effective Tax Rate (%) 16.2 18.1 +1.9ppt Profit for the
Slide 6: Well-controlled Operating Expenses
Expert in Well-controlled Operating Expenses Optics 1H20 1H21 1H22 (as % of (as % of (as % of (RMB mn) revenue) revenue) revenue) Revenue 18,863.8 100.0% 19,833.4 100.0% 16,971.8 100.0% Total Operating Expenses 1,537.4 8.2% 1,853.5 9.4% 2,069.6 12.3% • Selling and Distribution Expenses 136.0 0.7% 15
Slide 7: Healthy Financial Position
Expert in Healthy Financial Position Optics 1H20 1H21 1H22 Current Ratio (Times) 1.8 2.1 1.8 Operating Cash Inflow (RMB mn) 2,003.9 2,395.9 1,571.1 Cash and Cash Equivalents (RMB mn) 7,516.7 11,872.9 14,419.2 • Pledged Bank Deposits (RMB mn) 3.8 4.7 7.1 • Financial Assets at Fair Value through Profi
Slide 8: Diversified Business Portfolio
Expert in Diversified Business Portfolio Optics Revenue Breakdown by Product Applications 1.2% 0.4% 2.4% 0.9% 2.4% 0.6% Handset Related Products 0.6% 5.0% 4.7% 3.0% 3.9% 7.4% 6.0% Vehicle Related Products 8.1% AR/VR Related Products 10.2% Digital Camera Related Products 79.9% 88.1% 75.2% Optical Ins
Slide 9: Pressure on Consolidated Gross Profit Margin
Expert in Pressure on Consolidated Gross Profit Margin Optics Consolidated Gross Profit Margin Gross Profit Margins by Business Segments 30% 50% 44.2% 44.6% 24.9% 41.5% 42.9% 38.6% 20.8% 40% 35.5% 19.5% 20% 30% 20% 14.8% 10% 11.1% 11.6% 10% 0% 0% Optical Components Optoelectronic Products Optical In
Slide 10: Operation Review
Expert in Optics 2 Operation Review
Slide 11: Continued to Make Breakthroughs in Technology Built Competitive Barriers
Continued to Make Breakthroughs in Technology Expert in Built Competitive Barriers Optics Smartphone Related R&D Completed Mass Production Achieved • 1-inch hybrid lens sets • Ultra-thin miniaturized head lens sets Optical • 200MP ultra-thin lens sets Used for foldable phones • • 200MP ultra-large i
Slide 12: Developed Advantageous Businesses In-depth Carried Out R&D Innovation Continuously
Developed Advantageous Businesses In-depth Expert in Carried Out R&D Innovation Continuously Optics Smartphone Related Optical Components R&D Completed Mass Production Achieved • Internal focusing camera modules • Ultra-large image size (1/1.12”) OIS camera First one in the industry modules • Tunabl
Slide 13: Increased R&D Investment Further Enhanced Market Competitiveness
Increased R&D Investment Expert in Further Enhanced Market Competitiveness Optics Microscopes Optical • Mass production of 25X flat field multiphoton excitation dedicated objectives Components The first commercial product in China, both near-infrared wide-field and multiphoton imaging have achieved
Slide 14: Focused on Patent Layout Strengthened Competitive Advantages
Focused on Patent Layout Expert in Optics Strengthened Competitive Advantages Number of Authorized Patents 4,000 3,334 2,971 3,000 In the first half of 2022, 363 new authorized patents were obtained, including 116 invention patents 2,096 2,000 As at 30 June 2022, 4,064 patents are pending for ap
Slide 15: Made Breakthroughs in a New International Customer Expanded Industrial Leading Advantages
Made Breakthroughs in a New International Customer Expert in Optics Expanded Industrial Leading Advantages Shipment Volume of Shipment Volume of the Company’s the Company’s Handset Lens Sets 6P and above Handset Lens Sets (unit: k) (unit: k) 196,118 717,081 750,000 645,353 651,629 200,000 158,841 16
Slide 16: Continued to Maintain Leading Position as Global No.1
Continued to Maintain Leading Position as Global No.1 Expert in Raised Barriers of Product Technology Optics Shipment Volume of the Company’s Vehicle Lens Sets (unit: k) 37,317 37,611 40,000 32,000 20,506 24,000 16,000 8,000 0 1H20 1H21 1H22 16
Slide 17: Consolidated Leading Position in the Industry
Consolidated Leading Position in the Industry Expert in Carried out In-depth Cooperation with International Customers Optics Shipment Volume of Total Shipment Volume of the Company’s the Company’s Handset Camera Modules Periscope Modules and Large Image Size Modules * Large image size modules refer
Slide 18: Expanded Global Layout Enhanced Large-scale and High-end Manufacturing Capabilities
Expanded Global Layout Expert in Optics Enhanced Large-scale and High-end Manufacturing Capabilities Production Base R&D Center Henan Shanghai Zhejiang Guangdong Yuyao Chengxi U.S.A Production Base South Korea China India Vietnam Yuyao Yangming Production Base Yuyao Lanjiang Production Base 18
Slide 19: Outlook
Expert in Optics 3 Outlook
Slide 20: Continued to Strive for Differentiated Breakthroughs on Smartphone Cameras
Continued to Strive for Differentiated Breakthroughs Expert in on Smartphone Cameras Optics Main Camera • Large image size • Hybrid (G+P) • Large aperture • Ultra-thin (foldable screen) • Variable aperture • Dual OIS & sensor-shift • Internal focusing stabilisation Front Camera Ultra-wide Angle • Ul
Slide 21: Rapid Progress in Autonomous Driving Huge Potential in Optical Applications
Rapid Progress in Autonomous Driving Expert in Huge Potential in Optical Applications Optics In-cabin Rear-view Surround-view Rear-view Front-view (ADAS) Monitoring E-mirror (360°） for Parking LiDAR Optical System HUD Smart Headlamp Optical Ground Projection Optical Optical System System System 21
Slide 22: Define Strategic Position for Vehicle Related Optical Products
Define Strategic Position for Vehicle Related Optical Products Expert in Develop Sustainable Growth Driving Force Optics Vehicle Camera Related Products LiDAR Related Products Display Related Products • LiDAR is becoming a standard component in new • 2021 was the first year of AR-HUD commercializati
Slide 23: Broad VR Market Prospects Clear Business Opportunities
Broad VR Market Prospects Expert in Clear Business Opportunities Optics Display Sensing Interaction Eyeball Tracking Fresnel Pancake Facial Tracking 6DoF Tracking Gesture Recognition 23
Slide 24: Seize New Opportunities in Markets, Take the Lead in the Industry
Seize New Opportunities in Markets Expert in Take the Lead in the Industry Optics XR Display/ Drone Self Eco- Colla- Sensing Smart Screen Research boration Layout System Solution Recognition Facial Sweeping Recognition Robot Smart Terminal Robotic Eye Vision System Positioning Smart Door Solution Lo
Slide 25: Appendix
Expert in Optics 4 Appendix
Slide 26: Milestones
Expert in Milestones Optics 2013 2003 • Successfully placed 97,000,000 new Commenced production of shares and raised net proceeds of handset camera modules approximately HKD770 million • Signed a series of Strategic 2019 2004 Cooperation Agreements with Konica • Established Sunny OmniLight Minolta O
Slide 27: Dividend Payout
Expert in Dividend Payout Optics Dividends （RMB million） 1,200 1,047.7 974.0 1,000 798.5 800 725.1 623.0 600 400 200 0 2017 2018 2019 2020 2021 For the year ended 31 December 27
Slide 28: Shareholding Structure
Expert in Shareholding Structure Optics Sun Ji (1) 100.00% Sun Xu Public 35.47% 64.53% Sunny Optical Technology (1) The Sunny Group Employee Offshore Trust is a trust which holds the entire issued share capital of Sun Ji Limited. Mr. Wang Wenjian, together with TMF Trust (HK) Limited, is one of the
Slide 29: Investor Relations Contacts
Expert in Investor Relations Contacts Optics Investor Relations Contacts： Media Relations Contacts: Sunny Optical Technology (Group) Company Limited Porda Havas International Finance Communications Group iroffice@sunnyoptical.com sunnyoptical@pordahavas.com jasmine@sunnyoptical.com chris@sunnyoptica
Sunny Optical Technology (Group) Company — H1 2022 Earnings Presentation on 6ix