① Mingyue Lens continued to maintain double-digit growth in lens revenue in the first three quarters of this year, with three star products accounting for more than half of conventional lens revenue. ② benefits from the summer peak season, the company's "easy control" series of product sales of nearly 100 million yuan, an increase of more than 70% over the same period last year.
Financial Associated Press, October 23 (Reporter Zhao Zixiang)The demand for myopia prevention and control among teenagers continues to create new industry opportunities. 301101.SZ lens business revenue continued to maintain double-digit growth in the first three quarters of this year, with three star products accounting for more than half of conventional lens revenue. Benefiting from the summer peak season, the sales of the company's "easy control" series of products are close to 100 million yuan, an increase of more than 70% over the same period last year.
Tonight, Mingyue Lens released its report for the third quarter of 2023, with operating income of 197 million yuan, up 17.03 percent over the same period last year, and net profit of 42.3005 million yuan, up 20.88 percent over the same period last year. At the same time, the total revenue in the first three quarters was 563 million yuan, an increase of 23.8% over the same period last year, and the net profit was 122 million yuan, an increase of 40.34% over the same period last year.
According to public data, Mingyue lenses are mainly engaged in the R & D, design, production and sales of ophthalmic products such as lenses, lens raw materials, finished lenses and frames. According to the 2022 annual report, Mingyue lenses accounted for the largest proportion of revenue, more than 75%, followed by raw materials (14.31%), finished lenses (7.79%), frames (0.51%) and others (0.70%).
According to the third quarterly report, the company's lens business revenue in the third quarter was 161 million yuan, a year-on-year increase of 26.7% (excluding export business), and the proportion of functional lenses further increased.
In addition, star products in conventional lenses performed prominently. For example, the revenue of PMC super bright products increased by 77.3% in the third quarter over the same period, and that of 1.71 series products increased by 26.6% over the same period last year. The income of the three star products accounted for more than half of the revenue of conventional lenses.
According to the company's semi-annual report, in June and December 2021, the company launched adolescent myopia prevention and control lenses specially designed for Chinese children-"easy control" and "easy control Pro". The two products use peripheral defocus eye axis control technology (C.A.R.D) and multi-point myopia defocus eye axis control technology (C.A.M.D), respectively, to control the rapid growth of eye axis before forming film, effectively delaying the deepening of myopia.
Since the beginning of this year, the company has aimed at the promotion of brand layout and easy control series products in key provinces and cities throughout the country. according to the company's three quarterly reports, the "easy control" series products have achieved outstanding results in the summer peak season, and continue to grow month-on-month. At the same time, it continues to sell well in more well-known medical institutions and head chains.
Bright Moon Lens said in the announcement that the proportion of second-generation products (multi-point microlens defocus lenses) has been further increased. Sales of the "easy control" series of products in the first three quarters of 2023 were 99.71 million yuan, up 74 percent from the same period last year.