Sunny Optical

Sunny Optical Technology (Group) Company Limited, known as Sunny Optical or just Sunny is a Chinese civilian-run enterprise[4] and listed company that produces optical lenses.[5]

Sunny Optical Technology (Group) Co. Ltd.
TypePublic
ISINKYG8586D1097 
IndustryOptics manufacturing
Predecessor
  • Yuyao City Second Optical Instruments Factory
  • Yuyao City Zhonglida Optoelectronic Company
Founded21 September 2006 (2006-09-21) in Grand Cayman
FounderWang Wenjian[1]
Headquarters
Ningbo, China(de facto)
Grand Cayman,
the Cayman Islands		(registered office)
Area served
Exported worldwide
Key people
Ye Liaoning (Chairman)
Revenue RMB25,932 million (2018)
RMB02,491 million (2018)
Total assets RMB16,768 million (2018)
Total equity RMB09,234 million (2018)
Number of employees
 16,535 FT employees (2018)
Chinese name
Simplified Chinese舜宇光学科技（集团）有限公司
Traditional Chinese舜宇光學科技（集團）有限公司
Sunny Optical
Simplified Chinese舜宇光学
Traditional Chinese舜宇光學
Sunny
Chinese舜宇
RatingBaa2 (Moody's, October 2019)[2]
Websitewww.sunnyoptical.com/en/
Footnotes / references
In consolidated financial statement; equity and profit excluding minority interests; in Hong Kong Financial Reporting Standards[3]

Headquartered in Yuyao, Ningbo, Zhejiang Province, Sunny Optical Technology designs, manufactures, and sells optical devices,[5] including lens modules, camera modules, photoelectric vision products, microscopic, analytical and surveying instruments.[6] It is a supplier to major Chinese smartphone brands including Huawei, Oppo and Vivo.[7]

History

Predecessors

According to the company itself, the predecessor of Sunny Optical was founded in October 1984[8]:29–30 as Yuyao County Second Optical Instruments Factory (Chinese: 余姚县第二光学仪器厂) in Yuyao County, Zhejiang Province.[9] Since 1985 Yuyao became a county-level city, thus the factory was renamed to Yuyao City Second Optical Instrument Factory . The factory started its partnership with the Zhejiang University in 1988,[9] and renamed as Yuyao City Second Optical Instrument Factory Zhejiang University Optical Instrument Faculty Yuayo Optoelectronic Instrument Factory (Chinese: 余姚市第二光学仪器厂浙江大学光仪系余姚光电仪器厂) in 1989.[8]:29–30 It was also known as Yuyao Optoelectronic (Chinese: 余姚光电).[8]:29–30 At that time, the university designed the optics and the factory manufactured them.[10]

In 1993, Yuyao Optoelectronic and other co-founders, incorporated Yuyao City Zhonglida Optoelectronic Company (Chinese: 余姚市众利达光电公司).[11]:88 At that time, Zhonglida was a village collective enterprise. Out of 118 natural person shareholders, only Wang Wenjian (Chinese: 王文鉴) and Lu Benxu (Chinese: 鲁本绪; pinyin: Lǔ Běnxù) owned more than 3% stakes at that time.[11] While Yuyao Optoelectronic, owned one-fifth of the share capital of Zhonglida.[11]:88 In 1994 Yuyao Optoelectronic was converted into a joint-stock limited company. The employees of the factory, presented by the staff shareholding committee, owned 52.28% shares of Yuyao Optoelectronic at that time.[11]:89 A subsidiary of the Zhejiang University: Zhejiang University Optoelectronic Technology Development Company (Chinese: 浙大光电技术开发公司), was the second largest shareholder, for 19.44% stake.[11]:89

After 1996 capital increase, Yuyao Optoelectronic owned 51.06% shares of Zhonglida.[11]:90

Zhonglida was renamed to Zhejiang Sunny Limited (Chinese: 浙江舜宇有限公司; pinyin: Zhèjiāng shùnyǔ yǒuxiàn gōngsī) in April 2000.[11] Yuyao Optoelectronic ceased to be the parent company of Zhejiang Sunny in April 2000, sold 51.06% shares of Zhejiang Sunny to the aforementioned Staff Shareholding Committee.[11]:90 Zhejiang Sunny was renamed to Sunny Group Limited (Chinese: 舜宇集团有限公司) in May 2000.[8]:27

According to media, Wang Wenjian was the founder of the factory in 1984.[1][12] As of 2018, Wang Wenjian was a Non-Executive Director and the Honorary Chairman of the listed company.[3]:47 Wang Wenjian has no relation to Wang Wenjie (Chinese: 王文杰),[1] an Executive Director and Standing Vice-President of the company.[3]:46

Sunny Optical Technology (Group)

The current holding company of the group, Sunny Optical Technology (Group) Company Limited, was incorporated in the Cayman Islands on 21 September 2006, as an exempted company.[11]:101, 103

Sunny Optical became a listed company in 2007.[13]

Sunny Optical became a component of the blue-chip index the Hang Seng Index in 2017.[14]

Despite often misreported as a supplier of Apple Inc., Sunny Optical is not a supplier of Apple's handset lens supply chain. Analysts of Citigroup also stated Sunny Optical is not interested to join Apple's supply chain, "given its focus on China brands and Samsung so far[.]".[15] It was rumoured that Sunny passed the qualification to be Apple's supplier for 2020.[16][17]

Reference
  1. Feng, Venus; Dong, Emma; Mak Pei-yi; Leung, Adrian (6 June 2018). "A 9,500% Stock Surge Turns Janitors Into Millionaires in China". Bloomberg News. Retrieved 3 February 2020.
  2. "Announcement of Periodic Review: Moody's announces completion of a periodic review of ratings of Sunny Optical Technology (Group) Company Limited" (Press release). Hong Kong: Moody's Investors Service. 19 October 2019. Retrieved 3 February 2020.
  3. 2018 Annual Report (PDF) (Report) (in English and Chinese). Sunny Optical Technology. April 2019. Retrieved 3 February 2020.
  4. 舜宇光学科技校招启动在即，全方位揭开企业神秘面纱. China.com.cn (in Chinese). 18 September 2017. Retrieved 5 February 2020 – via XinhuaNet.
  5. "Sunny Optical Technology (Group) Co., Ltd". Nikkei Asian Review. Retrieved 5 February 2020.
  6. "2382.HK | Sunny Optical Technology Group Co. Ltd. Company Profile & Executives". The Wall Street Journal. Retrieved 5 February 2020.
  7. Perez, Bien (10 July 2017). "Sunny Optical handset lens shipments rise on selfie demand". South China Morning Post. Hong Kong. Retrieved 4 February 2020.
  8. "Definitions". Global Offering (PDF) (Prospectus). Sunny Optical Technology. 4 June 2007.
  9. 舜宇历史 (in Chinese). Sunny Optical Technology. Retrieved 3 February 2020.
  10. Wang Wenjian (3 December 2014). 一种无往不利的合作：厂校联袂. 雄关似铁 惊涛如歌 (in Chinese). Sunny Optical Technology. Retrieved 4 February 2020.
  11. "History, Reorganisation and Group structure". Global Offering (PDF) (Prospectus). Sunny Optical Technology. 4 June 2007.
  12. 大立光最大敵人！6萬人民幣起家的舜宇光學如何崛起？. 今周刊 [Business Today] (in Chinese). Taipei. 30 May 2018. Retrieved 4 February 2020.
  13. Li, Sandy (28 May 2007). "Sunny Optical targets HK$1b offer". South China Morning Post. Hong Kong. Retrieved 3 February 2020.
  14. 國泰航空被剔除藍籌 舜宇光學及碧桂園染藍. stheadline.com (in Chinese). Hong Kong: Sing Tao News Corporation. 10 November 2017. Retrieved 3 February 2020.
  15. Chen Cheng-hui (26 August 2019). "Samsung orders a positive sign for Largan: Citigroup". Taipei Times. Retrieved 4 February 2020.
  16. 張漢綺 (18 December 2019). 吃蘋果威脅台廠？舜宇光學短期辦不到. 《科技》section. 中時電子報 [China Times] (in Chinese). Taipei. Retrieved 4 February 2020.
  17. 余劲同 [Yu, Gin] (15 October 2019). "Company Report:Sunny Optical (02382 HK)" (PDF) (Press release). Hong Kong: Guotai Junan Securities. Retrieved 4 February 2020.
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