Sunny Optical Warns of Market Restructuring on Capacity Glut
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Sunny Optical Technology Group Co. warned that a global economic slowdown coupled with innovation could bring about a “deep restructuring” of the market.
The Chinese company particularly cautioned that domestic overcapacity and intensifying deglobalization could prompt “involutionary” competition, referring to an Internet buzzword describing a state of pointless overwork and burnout due to cutthroat competition, according to an exchange filing.