Mingyue Lens (301101.SZ): 70% of Customers Now Selling Defocus Lenses, Q3 Sales Expected to Rise Significantly

Intelligent Finance APP learned on July 25 that Mingyue Optical Lens Co., Ltd. (301101.SZ) stated during a research interview that the company currently has direct and indirect cooperation with tens of thousands of offline terminal stores. Seventy percent of customers have started selling the company’s defocus lenses, and this will further expand. The company expects that if there is no large-scale epidemic in the third quarter, the sales volume of defocus lenses will increase more significantly. Regarding other companies engaged in artificial crystals and OK lenses entering the defocus lens market, the company expressed a welcome, stating that the current stage is about expanding the category and developing an incremental market. Competitors joining in is beneficial for growing the category, and cooperation helps to expand channel advantages. In terms of medical channels, the company will develop cross-industry cooperation and establish a specialized team for medical channel clients. Additionally, the company took the lead in releasing three months of data. Since myopia prevention and control has a long lifecycle, the finer the granularity of the data, the stronger the competitiveness in future new-generation product development and user effectiveness.

70% of customers have started selling defocus lenses.

According to the company, the current number of offline terminal stores that the company directly and indirectly cooperates with has reached tens of thousands. Seven out of ten customers have started selling the company's defocus lenses, and the proportion and single-store sales volume will further increase. In the second quarter, the pace of product introduction was slower than the original target due to the epidemic, but June has already shown a rapid growth trend. It is expected that sales will increase more significantly in the third quarter without large-scale epidemics.

Welcome peers to join in the layout of the defocus lens field.

For other companies engaged in artificial lenses and OK lenses entering the defocus lens market and tapping into retail channels, the company stated that there are currently 120 million school-age children in China who require myopia management, yet the penetration rate of defocus spectacle lenses is less than 5%. Companies specializing in artificial lenses and OK lenses are now entering this market. Their traditional strengths lie in the medical field, while their retail capabilities tend to be relatively weaker. At this stage, the focus is on expanding the overall category and developing an incremental market. From this perspective, the company welcomes more competitors to join, as this will help grow the category. Currently, the medical channel is experiencing rapid growth, but in the long term, the retail space holds even greater potential because there are over 100,000 optical stores across China, compared to only a few thousand ophthalmic hospitals or clinics. Collaborating with competitors and industry peers can help expand channel advantages. The company has strengths in branding, R&D, and product development, and will launch significant new products at the right time. Additionally, the company remains open to future product updates and iterations, working together to grow the industry, which offers even greater room for imagination. Overall, the myopia prevention and control sector is still in an era where brands are vying to establish their presence.

Hospital Channel Promotion: Company Releases Leading 3-Month Data

Since June, the company has accelerated customer development in the medical channel: 1) The company is pursuing cross-border cooperation, with sufficient resources in the medical channel, which can expedite collaboration with more large-scale and chain-type channels, making later service and maintenance easier. 2) A specialized team has been established for customers in the medical channel, targeting the development of medium to large-sized and chain-type medical channels. 3) Professional ophthalmic medical institutions have given full affirmation to the three-month clinical trial results showing the product’s effectiveness in controlling excessive axial growth. As progress continues in the medical channel, subsequent performance is expected to show positive growth.

The company stated that it has always followed its own pace. The first reason for releasing data three months ahead of schedule is to provide a detailed presentation and reserve data for the entire product, as the life cycle of the myopia prevention and control category will be very long in the future. There will certainly be third-generation, fourth-generation, fifth-generation, or even more products coming out. In this case, the finer the granularity of the data, the stronger the competitiveness in the research and development of new-generation products and user effectiveness.