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）

2023 Annual Results Corporate Presentation

March 2024

Disclaimer

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) Company Limited. The Company makes no representation regarding, and assumes no responsibility or liability for, the accuracy or completeness of, or any errors or omissions in, any information contained herein.

In addition, the information contains projections and forward-looking statements that may reflect the Company's current views with respect to future events and financial performance. These views are based on current assumptions which are subject to various risks and which may change over time. No assurance can be given that future events will occur, that projections will be achieved, or that the Company's assumptions are correct. It is not the intention to provide, and you may not rely on this presentation as providing, a complete or comprehensive analysis of the Company's financial or trading position or prospects.

This presentation does not constitute an offer or invitation to purchase or subscribe for any securities or financial instruments or to provide any investment service or investment advice, and no part of it shall form the basis of or be relied upon in connection with any contract, commitment or investment decision in relation thereto.

2

1

2

Agenda 3

4

5

Financial Overview

Operation Review

Strategy and Outlook

ESG Performance Review

Appendix

1 Financial Overview

Results Underperformed but Out of Trough

2022

2023

Change

For the year ended 31 December

(RMB mn)

Revenue

33,196.9

31,681.3

-4.6%

Gross Profit

6,605.0

4,590.4

-30.5%

Profit Before Tax

2,715.0

1,358.2

-50.0%

Income Tax Expense

(240.8)

(207.8)

-13.7%

Effective Tax Rate (%)

8.9

15.3

+6.4ppt

Profit for the Year Attributable to Owners of the Company

2,407.8

1,099.4

-54.3%

Earnings per Share - Basic (RMB cents)

220.3

100.7

-54.3%

5

Strengthened R&D Investment Management to Enhance R&D Performance

2021

2022

2023

For the year ended 31 December

(as % of

(as % of

(as % of

(RMB mn)

revenue)

revenue)

revenue)

Revenue

37,496.9

100.0%

33,196.9

100.0%

31,681.3

100.0%

Total Operating Expenses

3,673.9

9.7%

4,084.8

12.3%

3,991.5

12.6%

•

Selling and Distribution

274.1

0.7%

352.8

1.1%

415.1

1.3%

Expenses

•

R&D Expenditure

2,642.2

7.0%

2,803.4

8.4%

2,566.5

8.1%

•

Administrative Expenses

757.6

2.0%

928.6

2.8%

1,009.9

3.2%

6

Solid Financial Position with Continuing Net Operating Cash Inflow

2021

2022

2023

Current Ratio (Times)

2.4

1.6

1.7

Operating Cash Inflow (RMB mn)

6,979.0

7,377.3

2,664.5

Cash and Cash Equivalents (RMB mn)

14,992.7

18,104.6

21,521.7

• Pledged Bank Deposits (RMB mn)

18.3

9.8

13.6

• Financial Assets at Fair Value through Profit or Loss (RMB mn)

8,275.3

10,086.4

7,113.3

• Time Deposits, Short Term Fixed Deposits, Cash and Cash

6,699.1

8,008.4

14,394.8

Equivalents (RMB mn)

Net Cash per Share (RMB cents)

818.1

1,089.2

1,462.1

Gearing Ratio (%)

15.6

14.4

11.1

ROE (%)

24.2

11.2

5.0

Capital Expenditure (RMB mn)

2,588.9

3,113.8

2,487.8

7

More Balanced Portfolio with Increasing Revenue Contributions from Non-handset Businesses

Revenue Breakdown by Product Applications

0.7%

6.2%

7.9%

2.7%

3.6%

2021

78.9%

1.0%

7.7%

12.4%

2.6%

6.2%

2022

1.1%

7.2%

16.7%

5.9%

3.0%

Vehicle Related Products

AR/VR Related Products

Handset Related Products

Digital Camera Related Products

Optical Instruments

Other Products

66.1%

2023

For the year ended 31 December

70.1%

8

Weak Industry Demand Led to GPM Pressure Temporarily

Consolidated Gross Profit Margin

30%

23.3%

19.9%

20%

14.5%

10%

0%

2021 2022 2023

For the year ended 31 December

Gross Profit Margins by Business Segments

50%

45.1% 42.0%

41.2%

39.5%

40%

33.4%

30%

28.4%

20%

13.7%10.7%

10%

5.5%

0%

Optical

Optoelectronic

Optical

Components

Products

Instruments

2021

2022

2023

For the year ended 31 December

9

2 Operation Review

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Disclaimer

Sunny Optical Technology (Group) Co. Ltd. published this content on 21 March 2024 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 21 March 2024 01:08:05 UTC.