Sunny Optical Technology Group Co. is ending the year as one of Hong Kong’s biggest losers, an unnerving fall for a smartphone parts-maker that minted millionaires out of janitors and chefs during a remarkable decade-long run. Some are betting it’ll be back to its winning ways before 2019 is over.
The first whiff of trouble emerged in August, when it reported disappointing margins, stoking fears the smartphone boom was ending. That worsened a months-long backslide that wiped about HK$119 billion ($15 billion) off its market value since a June peak as investors dumped technology stocks. Sunny’s the third biggest loser on Hong Kong’s benchmark index in that time, and the seventh worst-performing stock on MSCI’s main Asian technology gauge.
