Financial GuidanceThe guidance implies a drop in shipment growth for the next nine months despite share gains, suggesting conservative expectations.
Market ReactionThe market has likely over-reacted to the fund-raising by its employee trust, creating uncertainty among investors.
Profit WarningSunny reported a FY23E profit warning with earnings decline of 50-55% YoY, significantly lower than market expectations due to weak smartphone demand, intense competition, and the de-spec trend.