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Sunny Optical Technology (Group)

SEHK:2382
Snowflake Description

Outstanding track record with exceptional growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
2382
SEHK
HK$107B
Market Cap
  1. Home
  2. HK
  3. Tech
Company description

Sunny Optical Technology (Group) Company Limited, an investment holding company, engages in designing, researching, developing, manufacturing, and selling optical and optical related products, and scientific instruments. The last earnings update was 200 days ago. More info.


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  • Sunny Optical Technology (Group) has significant price volatility in the past 3 months.
2382 Share Price and Events
7 Day Returns
4.8%
SEHK:2382
1.7%
HK Electronic
2.7%
HK Market
1 Year Returns
-39.1%
SEHK:2382
-38.7%
HK Electronic
-9.6%
HK Market
2382 Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Sunny Optical Technology (Group) (2382) 4.8% 14.6% 41.4% -39.1% 328.4% 1171.2%
HK Electronic 1.7% 3.8% 18.1% -38.7% 25.8% 43.7%
HK Market 2.7% 5.6% 13.2% -9.6% 29.1% 20.9%
1 Year Return vs Industry and Market
  • 2382 underperformed the Market in Hong Kong which returned -9.6% over the past year.
Price Volatility
2382
Industry
5yr Volatility vs Market
Related Companies

Value

 Is Sunny Optical Technology (Group) undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Sunny Optical Technology (Group) to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data    Our intrinsic value calculation method has changed recently, learn more here.

Below are the data sources, inputs and calculation used to determine the intrinsic value for Sunny Optical Technology (Group).

SEHK:2382 Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 29 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.4%
Perpetual Growth Rate 10-Year HK Government Bond Rate 2%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for SEHK:2382
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year HK Govt Bond Rate 2%
Equity Risk Premium S&P Global 6%
Electronic Unlevered Beta Simply Wall St/ S&P Global 1.07
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.069 (1 + (1- 25%) (5.89%))
1.078
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.08
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 2% + (1.078 * 5.96%)
8.43%

Discounted Cash Flow Calculation for SEHK:2382 using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Sunny Optical Technology (Group) is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

SEHK:2382 DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (CNY, Millions) Source Present Value
Discounted (@ 8.43%)
2019 2,051.28 Analyst x13 1,891.85
2020 3,776.28 Analyst x12 3,212.12
2021 5,360.67 Est @ 41.96% 4,205.42
2022 6,967.27 Est @ 29.97% 5,041.00
2023 8,470.82 Est @ 21.58% 5,652.53
2024 9,801.32 Est @ 15.71% 6,032.06
2025 10,937.86 Est @ 11.6% 6,208.37
2026 11,891.42 Est @ 8.72% 6,225.04
2027 12,688.56 Est @ 6.7% 6,126.10
2028 13,360.20 Est @ 5.29% 5,949.06
Present value of next 10 years cash flows CN¥50,543.55
SEHK:2382 DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2028 × (1 + g) ÷ (Discount Rate – g)
= CN¥13,360.20 × (1 + 2%) ÷ (8.43% – 2%)
CN¥212,147.08
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= CN¥212,147.08 ÷ (1 + 8.43%)10
CN¥94,465.34
SEHK:2382 Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= CN¥50,543.55 + CN¥94,465.34
CN¥145,008.89
Equity Value per Share
(CNY)
= Total value / Shares Outstanding
= CN¥145,008.89 / 1,092.99
CN¥132.67
SEHK:2382 Discount to Share Price
Calculation Result
Exchange Rate CNY/HKD
(Reporting currency to currency of SEHK:2382)
1.169
Value per Share
(HKD)
= Value per Share in CNY x Exchange Rate (CNY/HKD)
= CN¥132.67 x 1.169
HK$155.15
Value per share (HKD) From above. HK$155.15
Current discount Discount to share price of HK$97.25
= -1 x (HK$97.25 - HK$155.15) / HK$155.15
37.3%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Sunny Optical Technology (Group) is available for.
Intrinsic value
37%
Share price is HK$97.25 vs Future cash flow value of HK$155.15
Current Discount Checks
For Sunny Optical Technology (Group) to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Sunny Optical Technology (Group)'s share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Sunny Optical Technology (Group)'s share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Sunny Optical Technology (Group)'s earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Sunny Optical Technology (Group)'s earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
SEHK:2382 PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2018-06-30) in CNY CN¥2.67
SEHK:2382 Share Price ** SEHK (2019-03-19) in HKD HK$97.25
SEHK:2382 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.855 CN¥83.16
Hong Kong Electronic Industry PE Ratio Median Figure of 61 Publicly-Listed Electronic Companies 9.7x
Hong Kong Market PE Ratio Median Figure of 1,494 Publicly-Listed Companies 10.92x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Sunny Optical Technology (Group).

SEHK:2382 PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= SEHK:2382 Share Price ÷ EPS (both in CNY)

= 83.16 ÷ 2.67

31.13x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sunny Optical Technology (Group) is overvalued based on earnings compared to the HK Electronic industry average.
  • Sunny Optical Technology (Group) is overvalued based on earnings compared to the Hong Kong market.
Price based on expected Growth
Does Sunny Optical Technology (Group)'s expected growth come at a high price?
Raw Data
SEHK:2382 PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 31.13x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 29 Analysts
31.7%per year
Hong Kong Electronic Industry PEG Ratio Median Figure of 12 Publicly-Listed Electronic Companies 0.68x
Hong Kong Market PEG Ratio Median Figure of 468 Publicly-Listed Companies 0.8x

*Line of best fit is calculated by linear regression .

SEHK:2382 PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 31.13x ÷ 31.7%

0.98x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sunny Optical Technology (Group) is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Sunny Optical Technology (Group)'s assets?
Raw Data
SEHK:2382 PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2018-06-30) in CNY CN¥7.30
SEHK:2382 Share Price * SEHK (2019-03-19) in HKD HK$97.25
SEHK:2382 Share Price converted to CNY reporting currency Exchange rate (HKD/ CNY) 0.855 CN¥83.16
Hong Kong Electronic Industry PB Ratio Median Figure of 82 Publicly-Listed Electronic Companies 1.15x
Hong Kong Market PB Ratio Median Figure of 2,137 Publicly-Listed Companies 0.99x
SEHK:2382 PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= SEHK:2382 Share Price ÷ Book Value per Share (both in CNY)

= 83.16 ÷ 7.30

11.4x

* Primary Listing of Sunny Optical Technology (Group).

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sunny Optical Technology (Group) is overvalued based on assets compared to the HK Electronic industry average.
X
Value checks
We assess Sunny Optical Technology (Group)'s value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Electronic industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Electronic industry average (and greater than 0)? (1 check)
  5. Sunny Optical Technology (Group) has a total score of 2/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

Future Performance

 How is Sunny Optical Technology (Group) expected to perform in the next 1 to 3 years based on estimates from 29 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
31.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Sunny Optical Technology (Group) expected to grow at an attractive rate?
  • Sunny Optical Technology (Group)'s earnings growth is expected to exceed the low risk savings rate of 2%.
Growth vs Market Checks
  • Sunny Optical Technology (Group)'s earnings growth is expected to exceed the Hong Kong market average.
  • Sunny Optical Technology (Group)'s revenue growth is expected to exceed the Hong Kong market average.
Annual Growth Rates Comparison
Raw Data
SEHK:2382 Future Growth Rates Data Sources
Data Point Source Value (per year)
SEHK:2382 Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 29 Analysts 31.7%
SEHK:2382 Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 29 Analysts 23%
Hong Kong Electronic Industry Earnings Growth Rate Market Cap Weighted Average 17.9%
Hong Kong Electronic Industry Revenue Growth Rate Market Cap Weighted Average 14.2%
Hong Kong Market Earnings Growth Rate Market Cap Weighted Average 12%
Hong Kong Market Revenue Growth Rate Market Cap Weighted Average 10.1%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
SEHK:2382 Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (8 months ago) See Below
Future Estimates Average of up to 29 Analyst Estimates (S&P Global) See Below
All numbers in CNY Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
SEHK:2382 Future Estimates Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2020-12-31 43,044 5,094 4,837 27
2019-12-31 35,713 3,911 3,845 29
2018-12-31 27,972 2,782 2,515 28
SEHK:2382 Past Financials Data
Date (Data in CNY Millions) Revenue Cash Flow Net Income *
2018-06-30 24,311 2,457 2,922
2018-03-31 23,339 2,447 2,912
2017-12-31 22,366 2,436 2,902
2017-09-30 20,550 2,120 2,433
2017-06-30 18,734 1,804 1,965
2017-03-31 16,673 1,710 1,618
2016-12-31 14,612 1,616 1,271
2016-09-30 13,283 1,373 1,095
2016-06-30 11,955 1,131 919
2016-03-31 11,325 1,416 840
2015-12-31 10,696 1,701 762
2015-09-30 9,969 1,529 689

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Sunny Optical Technology (Group)'s earnings are expected to grow significantly at over 20% yearly.
  • Sunny Optical Technology (Group)'s revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
SEHK:2382 Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (8 months ago) See Below
Future Estimates Average of up to 29 Analyst Estimates (S&P Global) See Below

All data from Sunny Optical Technology (Group) Company Filings, last reported 8 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2382 Future Estimates Data
Date (Data in CNY Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2020-12-31 4.45 5.59 3.72 25.00
2019-12-31 3.53 5.22 3.05 29.00
2018-12-31 2.31 2.40 2.24 22.00
SEHK:2382 Past Financials Data
Date (Data in CNY Millions) EPS *
2018-06-30 2.67
2018-03-31 2.67
2017-12-31 2.67
2017-09-30 2.24
2017-06-30 1.82
2017-03-31 1.50
2016-12-31 1.18
2016-09-30 1.02
2016-06-30 0.85
2016-03-31 0.78
2015-12-31 0.71
2015-09-30 0.64

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Sunny Optical Technology (Group) is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Sunny Optical Technology (Group)'s future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Hong Kong market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Hong Kong market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Sunny Optical Technology (Group) has a total score of 6/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

Past Performance

  How has Sunny Optical Technology (Group) performed over the past 5 years?

  • Sunny Optical Technology (Group)'s last earnings update was 200 days ago.
The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Sunny Optical Technology (Group)'s growth in the last year to its industry (Electronic).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Sunny Optical Technology (Group) has delivered over 20% year on year earnings growth in the past 5 years.
  • Sunny Optical Technology (Group)'s 1-year earnings growth exceeds its 5-year average (48.7% vs 44.1%)
  • Sunny Optical Technology (Group)'s earnings growth has exceeded the HK Electronic industry average in the past year (48.7% vs 13.4%).
Earnings and Revenue History
Sunny Optical Technology (Group)'s revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Sunny Optical Technology (Group) Company Filings, last reported 8 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

SEHK:2382 Past Revenue, Cash Flow and Net Income Data
Date (Data in CNY Millions) Revenue Net Income * G+A Expenses R&D Expenses
2018-06-30 24,310.92 2,922.10 587.85 1,177.60
2018-03-31 23,338.59 2,911.83 590.91 1,172.88
2017-12-31 22,366.25 2,901.55 593.97 1,168.16
2017-09-30 20,550.05 2,433.14 577.58 1,062.00
2017-06-30 18,733.85 1,964.73 561.18 955.85
2017-03-31 16,672.81 1,617.74 523.16 825.12
2016-12-31 14,611.78 1,270.75 485.13 694.40
2016-09-30 13,283.20 1,095.00 443.16 616.68
2016-06-30 11,954.62 919.26 401.19 538.97
2016-03-31 11,325.43 840.44 376.56 520.56
2015-12-31 10,696.23 761.63 351.92 502.14
2015-09-30 9,968.89 689.26 345.07 490.98
2015-06-30 9,241.55 616.90 338.22 479.81
2015-03-31 8,834.00 591.50 329.13 436.04
2014-12-31 8,426.46 566.10 320.05 392.27
2014-09-30 7,644.82 533.31 297.52 345.38
2014-06-30 6,863.19 500.53 274.99 298.50
2014-03-31 6,337.98 470.51 264.56 274.77
2013-12-31 5,812.77 440.50 254.12 251.04
2013-09-30 5,406.61 413.53 242.21 224.12
2013-06-30 5,000.45 386.57 230.30 197.20
2013-03-31 4,492.37 366.42 222.40 180.29
2012-12-31 3,984.30 346.27 214.50 163.37
2012-09-30 3,574.84 313.28 207.77 155.37
2012-06-30 3,165.38 280.29 201.05 147.36
2012-03-31 2,831.94 247.80 191.36 139.24

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Sunny Optical Technology (Group) has efficiently used shareholders’ funds last year (Return on Equity greater than 20%).
  • Sunny Optical Technology (Group) used its assets more efficiently than the HK Electronic industry average last year based on Return on Assets.
  • Sunny Optical Technology (Group) has significantly improved its use of capital last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Sunny Optical Technology (Group)'s performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Electronic industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Sunny Optical Technology (Group) has a total score of 6/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

Health

 How is Sunny Optical Technology (Group)'s financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Sunny Optical Technology (Group)'s finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Sunny Optical Technology (Group) is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Sunny Optical Technology (Group)'s cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Sunny Optical Technology (Group)'s finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2.8x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Sunny Optical Technology (Group) Company Filings, last reported 8 months ago.

SEHK:2382 Past Debt and Equity Data
Date (Data in CNY Millions) Total Equity Total Debt Cash & Short Term Investments
2018-06-30 8,017.34 5,417.82 5,520.52
2018-03-31 8,017.34 5,417.82 5,520.52
2017-12-31 7,519.21 1,347.88 3,200.31
2017-09-30 7,519.21 1,347.88 3,200.31
2017-06-30 5,734.08 1,456.60 2,379.68
2017-03-31 5,734.08 1,456.60 2,379.68
2016-12-31 4,913.34 904.35 2,667.47
2016-09-30 4,913.34 904.35 2,667.47
2016-06-30 4,097.69 747.99 1,785.92
2016-03-31 4,097.69 747.99 1,785.92
2015-12-31 3,844.89 683.24 1,983.07
2015-09-30 3,844.89 683.24 1,983.07
2015-06-30 3,404.22 677.32 1,525.70
2015-03-31 3,404.22 677.32 1,525.70
2014-12-31 3,250.59 521.57 904.85
2014-09-30 3,250.59 521.57 904.85
2014-06-30 2,988.56 851.25 1,176.98
2014-03-31 2,988.56 851.25 1,176.98
2013-12-31 2,859.89 489.16 1,692.04
2013-09-30 2,859.89 489.16 1,692.04
2013-06-30 2,018.16 332.81 532.90
2013-03-31 2,018.16 332.81 532.90
2012-12-31 1,931.85 102.79 524.22
2012-09-30 1,931.85 102.79 524.22
2012-06-30 1,763.41 151.13 406.09
2012-03-31 1,763.41 151.13 406.09
  • Sunny Optical Technology (Group)'s level of debt (67.6%) compared to net worth is high (greater than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (16.5% vs 67.6% today).
  • Debt is well covered by operating cash flow (45.4%, greater than 20% of total debt).
  • Sunny Optical Technology (Group) earns more interest than it pays, coverage of interest payments is not a concern.
X
Financial health checks
We assess Sunny Optical Technology (Group)'s financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Sunny Optical Technology (Group) has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

Dividends

 What is Sunny Optical Technology (Group)'s current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0.79%
Current annual income from Sunny Optical Technology (Group) dividends. Estimated to be 1.23% next year.
If you bought HK$2,000 of Sunny Optical Technology (Group) shares you are expected to receive HK$16 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Sunny Optical Technology (Group)'s pays a lower dividend yield than the bottom 25% of dividend payers in Hong Kong (1.96%).
  • Sunny Optical Technology (Group)'s dividend is below the markets top 25% of dividend payers in Hong Kong (5.27%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
SEHK:2382 Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 29 Analyst Estimates (S&P Global) See Below
Hong Kong Electronic Industry Average Dividend Yield Market Cap Weighted Average of 37 Stocks 3.1%
Hong Kong Market Average Dividend Yield Market Cap Weighted Average of 922 Stocks 3.4%
Hong Kong Minimum Threshold Dividend Yield 10th Percentile 1.1%
Hong Kong Bottom 25% Dividend Yield 25th Percentile 2%
Hong Kong Top 25% Dividend Yield 75th Percentile 5.3%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

SEHK:2382 Future Dividends Estimate Data
Date (Data in CN¥) Dividend per Share (annual) Avg. No. Analysts
2020-12-31 1.17 21.00
2019-12-31 0.90 24.00
2018-12-31 0.66 24.00
SEHK:2382 Past Annualized Dividends Data
Date (Data in CN¥) Dividend per share (annual) Avg. Yield (%)
2018-04-09 0.661 0.799
2018-03-19 0.661 0.545
2017-04-07 0.290 0.361
2017-03-13 0.290 0.579
2016-04-01 0.208 0.723
2016-03-14 0.208 1.162
2015-03-31 0.155 1.139
2015-03-09 0.155 1.366
2014-03-31 0.121 1.381
2014-03-11 0.121 1.924
2013-03-11 0.105 1.646
2012-03-14 0.070 2.397
2011-03-14 0.041 2.589
2010-04-13 0.020 1.228
2010-03-22 0.020 1.234
2009-04-14 0.020 2.286
2009-03-20 0.021 3.767

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Sunny Optical Technology (Group) is not paying a notable dividend for Hong Kong, therefore no need to check if the payments are stable.
  • Sunny Optical Technology (Group) is not paying a notable dividend for Hong Kong, therefore no need to check if the payments are increasing.
Current Payout to shareholders
What portion of Sunny Optical Technology (Group)'s earnings are paid to the shareholders as a dividend.
  • No need to calculate the sustainability of Sunny Optical Technology (Group)'s dividends as it is not paying a notable one for Hong Kong.
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (3.9x coverage).
X
Income/ dividend checks
We assess Sunny Optical Technology (Group)'s dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.1%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Sunny Optical Technology (Group) afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Sunny Optical Technology (Group) has a total score of 1/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

Management

 What is the CEO of Sunny Optical Technology (Group)'s salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Yang Sun
COMPENSATION CN¥1,917,000
AGE 45
TENURE AS CEO 7 years
CEO Bio

Mr. Yang Sun has been Chief Executive Officer at Sunny Optical Technology (Group) Company Ltd. since March 15, 2012. Mr. Sun served as Vice President of Sunny Optical Technology (Group) Company Ltd. from June 2010 to March 15, 2012 and also served as its Joint Secretary. He is responsible for the financial matters of Sunny Optical, especially for the management of financial budgets, financial statements and cash flow. Prior to joining Sunny Optical in March 2003, Mr. Sun once served in Ningbo Securities Company Limited. He joined Zhejiang Sunny (Group) Joint Stock Company Limited, (originally known as Yuyao County Chengbei Optical Instruments Factory), as Chief Officer of its investment management centre in 2002. In 2008, Mr. Sun was granted a qualification of senior economist by the Personnel Bureau of Zhejiang. He was also granted a qualification for providing securities investment consultation services by China Securities Regulatory Commission in 1999. During the Track Record Period, Mr. Sun served as Chief Officer of the strategy and investment management centre, the assistant to the President and the acting Chief Financial Officer of Sunny Group. He has been an Executive Director of Sunny Optical Technology (Group) Company Ltd. since May 2009. Mr. Sun graduated from Ningbo University in 1995 with a Bachelor's degree in Economics. He then obtained a Master's degree in Economics from Shanghai University of Economics and Finance in 2005.

CEO Compensation
  • Yang's compensation has been consistent with company performance over the past year.
  • Yang's remuneration is lower than average for companies of similar size in Hong Kong.
Management Team

Liaoning Ye

TITLE
Founder & Chairman
COMPENSATION
CN¥2M
AGE
52

Yang Sun

TITLE
CEO & Executive Director
COMPENSATION
CN¥2M
AGE
45
TENURE
7 yrs

Wenjian Wang

TITLE
Founder & Honorary Chairman
COMPENSATION
CN¥2M
AGE
71

Wenjie Wang

TITLE
Standing VP & Executive Director
COMPENSATION
CN¥2M
AGE
51

Jianfeng Ma

TITLE
CFO, VP
AGE
45

Guojun Lou

TITLE
GM of Ningbo Sunny Advanced Instruments Co Ltd and GM of Ningbo Sunny Instruments Co Ltd
AGE
53

Pui Ling Wong

TITLE
Joint Company Secretary
AGE
36

Yunfeng Song

TITLE
Deputy General Manager of Ningbo Sunny Advanced Instruments Co Ltd
AGE
53
Board of Directors Tenure

Average tenure and age of the Sunny Optical Technology (Group) board of directors in years:

7
Average Tenure
52
Average Age
  • The tenure for the Sunny Optical Technology (Group) board of directors is about average.
Board of Directors

Liaoning Ye

TITLE
Founder & Chairman
COMPENSATION
CN¥2M
AGE
52
TENURE
7 yrs

Yang Sun

TITLE
CEO & Executive Director
COMPENSATION
CN¥2M
AGE
45
TENURE
9.8 yrs

Wenjian Wang

TITLE
Founder & Honorary Chairman
COMPENSATION
CN¥2M
AGE
71
TENURE
7 yrs

Wenjie Wang

TITLE
Standing VP & Executive Director
COMPENSATION
CN¥2M
AGE
51
TENURE
5.3 yrs

Hua Jun Feng

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥84K
AGE
54
TENURE
2.9 yrs

Yuqing Zhang

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥84K
AGE
70
TENURE
11.8 yrs

Yang Dong Shao

TITLE
Independent Non-Executive Director
COMPENSATION
CN¥84K
AGE
49
TENURE
2.9 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (HK$) Value (HK$)
14. Feb 19 Sell JPMorgan Chase & Co, Brokerage and Securities Investments Company 11. Feb 19 11. Feb 19 -8,600 HK$86.05 HK$-740,060
14. Feb 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 11. Feb 19 11. Feb 19 -338,000 HK$86.05 HK$-29,086,083
14. Feb 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 11. Feb 19 11. Feb 19 1,752,797 HK$86.05 HK$150,834,317
14. Feb 19 Sell Highbridge Capital Management, LLC Company 11. Feb 19 11. Feb 19 -173,000 HK$86.05 HK$-14,887,256
14. Feb 19 Buy J.P. Morgan Asset Management, Inc. Company 11. Feb 19 11. Feb 19 24,300 HK$86.05 HK$2,091,100
13. Feb 19 Sell J.P. Morgan Asset Management, Inc. Company 08. Feb 19 08. Feb 19 -1,534,476 HK$80.14 HK$-122,972,908
04. Feb 19 Buy JPMorgan Chase & Co, Brokerage and Securities Investments Company 31. Jan 19 31. Jan 19 171,613 HK$77.15 HK$13,239,908
04. Feb 19 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 31. Jan 19 31. Jan 19 -100,000 HK$77.15 HK$-7,714,980
04. Feb 19 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 31. Jan 19 31. Jan 19 323,490 HK$77.15 HK$24,957,188
04. Feb 19 Sell Highbridge Capital Management, LLC Company 31. Jan 19 31. Jan 19 -24,000 HK$77.15 HK$-1,851,595
04. Feb 19 Buy J.P. Morgan Asset Management, Inc. Company 31. Jan 19 31. Jan 19 166,200 HK$77.15 HK$12,822,296
04. Feb 19 Sell J.P. Morgan Asset Management, Inc. Company 30. Jan 19 30. Jan 19 -1,523,433 HK$75.20 HK$-114,558,202
07. Jan 19 Buy J.P. Morgan Asset Management, Inc. Company 02. Jan 19 02. Jan 19 572,755 HK$66.40 HK$38,033,679
21. Dec 18 Sell J.P. Morgan Asset Management, Inc. Company 18. Dec 18 18. Dec 18 -219,631 HK$69.36 HK$-15,234,682
08. Nov 18 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 05. Nov 18 05. Nov 18 535,421 HK$77.84 HK$41,675,617
05. Nov 18 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 31. Oct 18 31. Oct 18 -2,514,770 HK$68.27 HK$-171,679,082
31. Oct 18 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 26. Oct 18 26. Oct 18 2,064,379 HK$65.70 HK$135,630,936
23. Aug 18 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 20. Aug 18 20. Aug 18 418,215 HK$85.59 HK$35,795,188
17. Aug 18 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 14. Aug 18 14. Aug 18 6,042,673 HK$94.21 HK$569,302,597
20. Aug 18 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 16. Aug 18 16. Aug 18 -2,162,566 HK$90.07 HK$-194,778,204
19. Jul 18 Buy JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 16. Jul 18 16. Jul 18 1,175,716 HK$152.34 HK$179,103,048
26. Mar 18 Sell JPMorgan Chase & Co, Private Banking and Investment Banking Investments Company 21. Mar 18 21. Mar 18 -469,420 HK$162.89 HK$-76,461,478
X
Management checks
We assess Sunny Optical Technology (Group)'s management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Sunny Optical Technology (Group) has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

News

Simply Wall St News

How Should Investors Feel About Sunny Optical Technology (Group) Company Limited's (HKG:2382) CEO Pay?

In 2012 Yang Sun was appointed CEO of Sunny Optical Technology (Group) Company Limited (HKG:2382). … Check out our latest analysis for Sunny Optical Technology (Group)? … According to our data, Sunny Optical Technology (Group) Company Limited has a market capitalization of HK$101b, and pays its CEO total annual compensation worth CN¥1.9m.

Simply Wall St -

Is Sunny Optical Technology (Group) Company Limited's (HKG:2382) 37% Better Than Average?

We'll use ROE to examine Sunny Optical Technology (Group) Company Limited (HKG:2382), by way of a worked example. … That means that for every HK$1 worth of shareholders' equity, it generated HK$0.37 in profit. … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Should You Care About Sunny Optical Technology (Group) Company Limited’s (HKG:2382) Cash Levels?

Two important questions to ask before you buy Sunny Optical Technology (Group) Company Limited (HKG:2382) is, how it makes money and how it spends its cash. … I will take you through Sunny Optical Technology (Group)’s cash flow health and the risk-return concept based on the stock’s cash flow yield, using the most recent financial data. … Free cash flow (FCF) is the amount of cash Sunny Optical Technology (Group) has left after it pays off its expenses, including its net capital expenditures, which is what the company needs to spend each year to maintain or grow its business operations.

Simply Wall St -

Consider These Factors, Then Buy Sunny Optical Technology (Group) Company Limited (HKG:2382)

High quality stocks such as Sunny Optical Technology (Group) Company Limited has fared well over time in a fickle stock market, which is why I want to bring it into light amongst all the chaos. … See our latest analysis for Sunny Optical Technology (Group). … Sunny Optical Technology (Group) Company Limited, an investment holding company, engages in designing, researching, developing, manufacturing, and selling optical and optical related products, and scientific instruments

Simply Wall St -

Is Sunny Optical Technology (Group) Company Limited's (HKG:2382) Balance Sheet A Threat To Its Future?

Sunny Optical Technology (Group) Company Limited (HKG:2382), a large-cap worth HK$84b, comes to mind for investors seeking a strong and reliable stock investment. … I will provide an overview of Sunny Optical Technology (Group)’s financial liquidity and leverage to give you an idea of Sunny Optical Technology (Group)’s position to take advantage of potential acquisitions or comfortably endure future downturns. … View our latest analysis for Sunny Optical Technology (Group)

Simply Wall St -

What Investors Should Know About Sunny Optical Technology (Group) Company Limited's (HKG:2382) Financial Strength

Small and large cap stocks are widely popular for a variety of reasons, however, mid-cap companies such as Sunny Optical Technology (Group) Company Limited (HKG:2382), with a market cap of HK$67b, often get neglected by retail investors. … Today we will look at 2382’s financial liquidity and debt levels, which are strong indicators for whether the company can weather economic downturns or fund strategic acquisitions for future growth. … View our latest analysis for Sunny Optical Technology (Group).

Simply Wall St -

Here's What Sunny Optical Technology (Group) Company Limited's (HKG:2382) P/E Is Telling Us

We'll look at Sunny Optical Technology (Group) Company Limited's (HKG:2382) P/E ratio and reflect on what it tells us about the company's share price. … Sunny Optical Technology (Group) has a P/E ratio of 20.18, based on the last twelve months. … How Do I Calculate Sunny Optical Technology (Group)'s Price To Earnings Ratio

Simply Wall St -

How Many Sunny Optical Technology (Group) Company Limited (HKG:2382) Shares Do Institutions Own?

A look at the shareholders of Sunny Optical Technology (Group) Company Limited (HKG:2382) can tell us which group is most powerful. … With a market capitalization of HK$76b, Sunny Optical Technology (Group) is rather large. … Check out our latest analysis for Sunny Optical Technology (Group)

Simply Wall St -

Something To Consider Before Buying Sunny Optical Technology (Group) Company Limited (HKG:2382) For The 1.0% Dividend

Historically, Sunny Optical Technology (Group) Company Limited (HKG:2382) has paid a dividend to shareholders. … Let's dig deeper into whether Sunny Optical Technology (Group) should have a place in your portfolio. … View our latest analysis for Sunny Optical Technology (Group)

Simply Wall St -

Did Sunny Optical Technology (Group) Company Limited's (HKG:2382) Recent Earnings Growth Beat The Trend?

For investors with a long-term horizon, assessing earnings trend over time and against industry benchmarks is more valuable than looking at a single earnings announcement in one point in time. … Investors may find my commentary, albeit very high-level and brief, on Sunny Optical Technology (Group) Company Limited (HKG:2382) useful as an attempt to give more color around how Sunny Optical Technology (Group) is currently performing. … View our latest analysis for Sunny Optical Technology (Group).

Simply Wall St -

Company Info

Description

Sunny Optical Technology (Group) Company Limited, an investment holding company, engages in designing, researching, developing, manufacturing, and selling optical and optical related products, and scientific instruments. The company operates in three segments: Optical Components, Optoelectronic Products, and Optical Instruments. Its products include optical components, such as glass spherical and aspherical lenses, plane products, handset lens sets, vehicle lens sets, and other various lens sets; and optoelectronic products, including handset camera modules, three-dimensional optoelectronic products, security cameras, and other optoelectronic modules. The company also offers optical instruments comprising microscopes and optical measuring instruments. Its optoelectronic-related products are used in handsets, digital cameras, vehicle imaging systems, security surveillance systems, and optical measuring instruments. In addition, the company is involved in the manufacture and development of security equipment technologies; trading of optical instruments and optoelectronics products; and manufacture and sale of optical automotive components. It operates primarily in the People’s Republic of China, Korea, Japan, and the United States. The company was founded in 1984 and is headquartered in Yuyao, China. Sunny Optical Technology (Group) Company Limited is a subsidiary of Sun Xu Limited.

Details
Name: Sunny Optical Technology (Group) Company Limited
2382
Exchange: SEHK
Founded: 1984
HK$107,495,298,594
1,092,987,276
Website: http://www.sunnyoptical.com
Address: Sunny Optical Technology (Group) Company Limited
27-29 Shunke Road,
Yuyao,
Zhejiang Province, 315400,
China
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
SEHK 2382 Ordinary Shares The Stock Exchange of Hong Kong Ltd. HK HKD 15. Jun 2007
OTCPK SNPT.F Ordinary Shares Pink Sheets LLC US USD 15. Jun 2007
DB SXC Ordinary Shares Deutsche Boerse AG DE EUR 15. Jun 2007
LSE 0Z4I Ordinary Shares London Stock Exchange GB HKD 15. Jun 2007
SHSC 2382 Ordinary Shares Stock Exchange of Hong Kong Limited - Shanghai - Hong Kong Stock Connect HK HKD 15. Jun 2007
SZSC 2382 Ordinary Shares The Stock Exchange of Hong Kong - Shenzhen - Hong Kong Stock Connect HK HKD 15. Jun 2007
BMV 2382 N Ordinary Shares Bolsa Mexicana de Valores MX MXN 15. Jun 2007
OTCPK SOTG.Y ADR Pink Sheets LLC US USD 13. May 2014
Number of employees
Current staff
Staff numbers
14,889
Sunny Optical Technology (Group) employees.
Industry
Electronic Components
Tech
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/03/19 12:43
End of day share price update: 2019/03/19 00:00
Last estimates confirmation: 2019/03/15
Last earnings filing: 2018/08/31
Last earnings reported: 2018/06/30
Last annual earnings reported: 2017/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.