Interim Report 2018

Management Discussion and Analysis 管理層討論與分析 2 Sunny Optical Technology (Group) Company Limited INTERIM REPORT 2018 業務回顧 回顧二零一八年上半年，全球經濟持續復甦，總 體經濟指標保持發展狀態，但是總體的經濟擴張 較上一年有所減緩。全球範圍內的貿易摩擦持續 發酵，增加了經濟發展的不穩定性。全球智能手 機市場處於產業發展的成熟階段，整體增速較往 年相比呈現下降趨勢。中國本土品牌廠商透過不 斷加大技術研發力度、延伸手機使用場景以及加 強軟硬件協同升級等策略完成市場佈局，以突破 同質化競爭。然而產品技術參數帶來的用戶體驗 的差異化並不是特別明顯，致使消費者換機意願 普遍不強，智能手機市埸的競爭仍十分激烈，行 業集中化態勢繼續加劇。另一方面，隨著車聯網 產業的持續發展，行車中主動安全需求的不斷提 升，以及美國、歐盟、日本等地以法律法規為推 動力使得車載鏡頭需求維持高速成長。同時，車 載攝像頭在智能駕駛輔助系統（「 ADAS 」）和無人 駕駛技術的應用中有著舉足輕重的地位。而隨著 ADAS 滲透率的不斷提高，作為車載成像和感知系 統重要零部件之一的車載鏡頭，其全球市場保持 高速增長，發展勢頭迅猛。總體而言，儘管外部 環境複雜多變，本集團仍能憑借技術上的先發優 勢及綜合競爭實力，持續保持行業龍頭地位，整 體業績表現穩健。 BUSINESS REVIEW Looking back to the first half of 2018, the global economy continued to recover and the overall economic indicators kept growing, but the overall economic expansion slowed down as compared with last year. Trade friction within the global economy kept simmering, which aggravated the uncertainty of economic development. The global smartphone market was in the mature stage of industrial development, and the overall growth rate demonstrated downward trend as compared with previous years. Chinese local brand manufacturers completed their market layouts through constantly enhancing the technology research and development, extending usage scenario of smartphones, and strengthening collaborative upgrade of software and hardware, which would break through the homogeneous competition. However, as the differentiation of users’ experience brought by product’s technical parameters is not particularly obvious, consumers’ willingness to purchase new phones is generally weak. Given that the competition in smartphone market remains fierce, the trend of industry concentration will continue to intensify. On the other hand, with the continuous development of vehicle internet industry, the increasing demand for active safety when driving and driven by laws and regulations in the United States, the European Union, Japan and other countries, the demand for vehicle lens sets has maintained a high-speed growth. Meanwhile, vehicle cameras played an important role in the application of advanced driver assistance systems (“ ADAS ”) and self-driving technology. As the penetration rate of ADAS continued to increase, the vehicle lens sets, as one of the important components of vehicle imaging and sensing systems, maintained rapid growth in global market and realized a strong momentum. Overall, in spite of the complex and changing external environment, the Group still remained its leading position in the industry with its technical first-mover advantage and comprehensive competitive strength, and it realized a stable growth of overall performance.