10月20日至10月22日，以"科技智造强链条创新融合优生态改革赋能促发展"为主题，由国家药监局南方 医药经济研究所主办的"2025医疗器械经济信息发布会"在安徽省合肥市召开。 合肥市工业和信息化局相关负责人对《证券日报》记者表示，此次会议不仅是行业交流的重要平台，也 为企业、科研机构提供了合作契机，助力医疗器械行业高质量发展。 市场规模不断扩大 我国医疗器械市场正处于快速发展阶段。弗若斯特沙利文数据显示，2017年至2024年，我国医疗器械行 业市场规模由4403亿元增长至11544亿元，年复合增长率为14.76%，远超过全球医疗器械市场同期约 4.82%的年复合增长率。 同时，随着我国政府对国产医疗器械行业的支持力度逐步加大，以及国内居民人均医疗支出的持续增 长，预计2025年我国医疗器械市场规模将增长至1.24万亿元，到2030年该市场规模将超过1.66万亿元。 市场扩容的主要驱动力来自政策和地方引导。国家层面，2025年，《国家药监局关于发布优化全生命周 期监管支持高端医疗器械创新发展有关举措的公告》提及，对符合要求的国内首创、国际领先，且具有 显著临床应用价值的高端医疗器械继续实施创新特别审查，进一 ...

Core Insights - The company participated in an online investor meeting on September 15, 2025, discussing business adjustments and new product developments [1][2]. Group 1: Business Adjustments - The decline in revenue from nursing products was attributed to the restructuring of online business and the cessation of partnerships with certain clients, leading to decreased distribution income [3]. - The company is exploring entry into the CPO, smart glasses, and brain-machine interface sectors through equity participation, having already established a partnership with Raytheon and Huiding for smart glasses, with the joint venture registered [3]. Group 2: New Products - Inquiries regarding the launch timeline for new products such as AI glasses and atropine eye drops were addressed, indicating that AI glasses are in preliminary preparation while atropine is still in phase III clinical trials, with disclosures to follow regulatory requirements [3]. - The company has launched scleral lenses in the first half of the year, aiming to capture a portion of the high-end frame market, although specific pricing strategies were not disclosed [3]. Group 3: Stock Repurchase - The company stated that any matters related to stock repurchase and cancellation would be disclosed in accordance with regulations, emphasizing that the meeting did not involve any undisclosed significant information [3].

Group 1: Financial Performance and Business Adjustments - The company's subsidiary adjusted its online business structure, leading to a decline in nursing product revenue due to the cessation of cooperation with certain clients [1] - The scleral lens was launched in the first half of the year, aiming to capture part of the high-end frame market [2] Group 2: Product Development and Future Plans - The joint venture with Thunder and Huiding has completed business registration, but products have not yet been officially launched [2] - The atropine eye drops are still in phase three clinical trials [2] Group 3: Strategic Initiatives and Market Positioning - The company is exploring acquisition or investment opportunities in high-tech firms producing CPO or smart glasses [1] - There is no public discussion on specific pricing strategies for scleral lenses, including potential reductions to 3900 yuan per pair [2] Group 4: Shareholder Engagement and Stock Management - Any stock repurchase plans will be disclosed according to regulations [2] - The activity did not involve any undisclosed significant information [2]

Core Viewpoint - The company held an online earnings briefing on September 2, 2025, to discuss its business development and engage with investors [1] Business Development Disclosure - The company started selling scleral lenses in March, which accounted for 0.6% of lens orders in the first half of the year, primarily targeting adult users and is in the initial promotion phase [1] - The ordinary soft lenses from Multi-vision Medical did not have sales in the first half but are set to be launched in the second half of the year [1] - The company completed industrial changes for Shangyue Qicheng in mid-August and will officially consolidate its financials in September, with current operations reported as good [1] Business Expansion - The company is expanding its service terminal business by enhancing both the content and scale, including the introduction of functional vision correction products, dry eye and visual fatigue solutions, and visual function training [2] - The sales department is being optimized with additional technical support and sales personnel in various regions, and a second distribution center has been established for hard lens sales [2] Collaboration and Capacity Planning - The company has partnered with numerous optical professional universities for talent development and technical research, allowing students to gain practical experience [3] - New production capacity for BFS sterile instruments and clean rooms has been established, with BFS production lines already producing disposable rinsing solutions and eye wash solutions [3] Other Key Points - In the first half of the year, revenue from rigid contact lens products accounted for 57.77% of total revenue, down from 62.06% in the same period last year [4] - The company has different management approaches for subsidiaries based on direct operations and minority shareholder operations [4] - Revenue from medical institutions has declined due to the cessation of atropine sales at the headquarters hospital, with some medical institution business downturns requiring further monitoring [4]

Core Viewpoint - The company is actively addressing intensified competition through various strategies, including new product development and promotional activities [2] Group 1: Company Strategies - The company has outlined measures to cope with increased competition in its annual and semi-annual reports [2] - New product development includes the DK185 orthokeratology lens and scleral lenses [2] - Promotional activities involve offering free care products with lens purchases [2] - The company is promoting other optical products such as functional frame glasses, functional soft lenses, and vision training [2] - Expansion of controlled optical service terminals and online marketing efforts are also underway [2] - These initiatives have already yielded certain positive results [2]

Sales Performance - Scleral lens sales started in March 2025, accounting for 0.6% of lens orders in the first half of the year, primarily targeting adults [1] - Sales data for July and August will be disclosed in the regular report [2] - Medical institution revenue declined due to the cessation of atropine sales, which previously generated approximately 9 million in sales during the same period last year [3] Market Expansion Strategies - The company is expanding service terminal construction by diversifying product offerings beyond myopia prevention and hard lenses to include functional vision correction products and other optical services [2] - Focus on acquiring and investing in established optical service institutions with user resources to enhance service terminal scale [2] - Efforts to increase sales force and invest in optical terminals to boost business scale outside of East China, where sales revenue accounted for 57.77% of total revenue, down from 62.06% in the same period last year [3] Collaboration and Talent Development - Established partnerships with numerous universities for training optical service personnel and collaborative research projects [2] - Continuous enhancement of cooperation with educational institutions to strengthen talent reserves and technical research collaboration [2] Production Capacity and Market Demand - BFS production line is currently producing disposable rinsing solutions and eye wash liquids, with plans to fully produce disposable care products upon obtaining necessary approvals [2] - Development of eye health products suitable for disposable packaging is underway [2] Customer Accessibility - Customers can locate nearby OPUKANG optical stores through the "OPUKANG Optical Member" WeChat mini-program or by contacting local sales representatives for partner store information [3]

Financial Performance - The company reported a 15.91% decrease in revenue from distributors, accounting for 28.62% of total revenue, down from 33.56% in the same period last year [6] - Direct sales revenue increased by 6.68%, representing 14.60% of total revenue, compared to 13.49% last year [6] - Revenue from controlled terminals grew by 5.70%, making up 56.78% of total revenue, up from 52.95% last year [6] Product Promotion and Market Trends - The new DK185 corneal shaping lens has seen a user acceptance rate with a market share increase from 0.6% in June to 7% currently [2] - The scleral lens, launched in March, currently holds a market share of approximately 0.6% [2] - The company is focusing on promoting the scleral lens to adults, particularly those with dry eyes, indicating significant market potential [2] Strategic Developments - The company added 30 optical terminals in the first half of 2025, bringing the total to over 520, while hospital partnerships increased to about 30 [2] - The company is cautious about new optical terminal investments, prioritizing those with substantial feasibility and growth potential [2] Industry Dynamics - The trend of separating product and service pricing in public hospitals is influencing overall product pricing, leading to a general decrease [3][4] - The company has introduced affordable products in response to market demands, aiming to make corneal shaping lenses accessible to more families [4] Research and Development - The company has multiple products in development, including advanced corneal and scleral lenses, cleaning solutions, and new medical devices expected to launch within 1-3 years [5] - The AAV research by the invested ophthalmic innovation company, Xingmou, has entered phase II clinical trials [5] E-commerce Growth - E-commerce sales, primarily for care products, are experiencing rapid growth, with plans to expand product offerings and improve online sales channels [6]

Core Viewpoint - The company reported a decline in revenue and net profit for the first half of 2025, primarily due to insufficient consumer spending [1] Financial Performance - Revenue for 1H25 was 870 million yuan, a year-on-year decrease of 1.42% - Net profit attributable to shareholders was 250 million yuan, down 29.97%, with diluted earnings per share at 0.28 yuan - Non-recurring net profit was 216 million yuan, a decline of 23.60%, slightly below expectations due to overall weak consumer sentiment [1] Product Segment Performance - The growth in product segments was slightly below expectations, with hopes for recovery in 2H25 - Rigid contact lenses generated 360 million yuan in revenue, down 4.58% year-on-year, affected by overall consumer sentiment and increased market share of lower-priced myopia prevention products - Care products revenue was 110 million yuan, down 6.89%, due to promotional activities impacting sales - Revenue from ordinary frames and other optical products and services was 190 million yuan, up 16.18%, driven by increased income from functional frames and non-medical technical services - Medical services revenue was 170 million yuan, down 9.20%, due to decreased income from medical institutions, including the cessation of atropine sales at the headquarters hospital since the second half of 2024 [2] Service Development and New Products - The medical service segment continues to develop, with the company promoting a community-based professional optical service system, establishing over 490 optical service terminals by the end of 2024 - The revenue from controlled optical terminals exceeded half of the company's total business revenue, although growth is currently under pressure due to the overall market conditions for OK lenses - The company launched new generation contact lenses using high oxygen permeability materials, which are expected to contribute to revenue growth - The acquisition of Jiangsu Duozhi aims to enter the colored contact lens market, leveraging its strong sales channels [3] Profitability and Margin Analysis - The gross margin for core business in 1H25 was 34.2%, down 6.9 percentage points year-on-year - The net profit margin attributable to shareholders was 28.7%, down 11.7 percentage points year-on-year - The non-recurring net profit margin was 24.8%, down 7.2 percentage points year-on-year - The significant decline in net profit is attributed to lower gross margins from newly consolidated subsidiaries and a notable increase in selling and administrative expenses [3] Earnings Forecast and Valuation - The company has adjusted its EPS forecasts for 2025 and 2026 down by 12.3% and 8.9% to 0.61 yuan and 0.68 yuan, respectively - The current stock price corresponds to a P/E ratio of 31.6 for 2025 and 28.6 for 2026 - The target price is maintained at 19.2 yuan, corresponding to a P/E of 31.3 for 2025 and 28.4 for 2026, which is in line with the current stock price [4]

欧普康视（300595.SZ）8月7日在投资者互动平台表示，跨境电商主要销售一些日常的眼健康用品，目 前马来西亚已启动，其它东南亚国家在筹备中。公司的主营产品角膜塑形镜、巩膜镜、护理品等属于医 疗器械，需要先在当地注册才能销售，注册在准备中。 （文章来源：每日经济新闻） 每经AI快讯，有投资者在投资者互动平台提问：董秘，您好！早段时间公司有信息说电商进行海外布 局，并在部分国家申请证照，具体正在进行或计划的有那些国家、地区？ ...

Financial Performance - The company's operating revenue increased by 4.40% year-on-year, while net profit attributable to shareholders decreased by 14.16% [1] - In 2024, the company recorded a significant decline in net profit in Q4, attributed to non-operational factors such as goodwill impairment and bad debt provisions [2] - The company made provisions for long-term equity investment impairment, bad debt, and goodwill impairment totaling 67.14 million yuan, a substantial increase year-on-year [4] Business Strategy - The company plans to focus on building its own brand rather than primarily acting as an OEM for its subsidiary, Duozhi Medical, which has a daily production capacity of no less than 80,000 pieces [2] - The company aims to expand its optical service terminals, with a focus on cost control and improving single-store profitability [4] - The average time for optical terminals to reach breakeven is generally within three years, depending on the scale of the operation [7] Product Development - Sales revenue from the main product, orthokeratology lenses, decreased by 6.73% year-on-year due to weak high-end consumption and intensified competition [3] - The company has made breakthroughs in R&D, with new generation orthokeratology lenses and scleral lenses having completed clinical trials and expected to be launched soon [3] - The company is exploring new myopia control products, such as atropine eye drops and defocus lenses, to enhance its market position [3] Sales and Marketing - Sales expenses increased by 22.40% year-on-year, primarily due to personnel increases and promotional activities [6] - The company has strengthened its technical services and product promotion efforts, which helped stabilize market share despite a decline in main product sales [6] Investment and Capital Management - The company is committed to using 75% of the proceeds from a 500 million yuan acquisition of 13 subsidiaries for stock buybacks, with performance-based milestones [5] - The management's compensation is linked to annual performance, with bonuses decreasing in line with performance declines [4] Talent Management - The company has implemented a dual incentive mechanism for core technical personnel, including project-based rewards and a performance-based salary system [6] - The company maintains a low turnover rate among its core personnel, indicating effective talent retention strategies [6]