On November 29, Capital State learned that Shanghai Connet Optical Technology Group Co., Ltd. (hereinafter referred to as “Connet Optics”) passed the Hong Kong Stock Exchange listing hearing and that Guotai Junan International was its sole sponsor.

According to the hearing data, Connett Optics is a leading manufacturer of plastic eyewear lenses in China, selling in more than 80 countries during the record period, including but not limited to China, the United States, Japan, India, Australia, Thailand, Germany and Brazil.

According to the Frost & Sullivan report, in 2020, in terms of resin lens production, the company ranked first among resin lens manufacturers in China, with a market share of about 8.5%, while the production volume of resin eyeglass lenses in China in 2020 was 1,509 billion pieces.

According to the same data, from a global perspective, the company ranked 9th in terms of revenue from resin eyeglass lenses in 2020, with a market share of about 0.4%, and is the only group headquartered in China among the top ten global market participants.

Connet Optics provides customers with a variety of resin eyewear lenses, including standardized lenses and customized lenses. Its products are mainly resin eyewear lenses with refractive indices of 1.499, 1.56, 1.60, 1.67 and 1.74.

For the three years ending 2018, 2019 and December 31, 2020, the company recorded revenue of RMB 854 million (same below), RMB 1,059 million and RMB 1,093 million respectively, with net profit of RMB 784.62 million, RMB 112 million and RMB 129 million respectively.

The company's business experienced continuous growth. Revenue increased 47.7% from 364 million yuan in the five months ended May 31, 2020 to 538 million yuan in the five months ended May 31, 2021; net profit increased 98.8% from 32.502 million yuan in the five months ended May 31, 2020 to 64.582 million yuan in the five months ended May 31, 2021.