Industry Overview - The demand for eyeglass frames in China is increasing due to rising income levels and changing consumer preferences, leading to higher expectations for quality, design, and functionality [1][11] - In the first five months of 2025, the import value of eyeglass frames reached 660 million yuan, a year-on-year increase of 7.3%, while the export value was 4.782 billion yuan, a year-on-year decrease of 4.43% [1][11] - The trend of consumption upgrading is driving consumers to prefer international brands, lightweight materials (such as pure titanium and carbon fiber), and functional frames (like smart glasses and sports protective frames) [1][11] - The global eyewear market is experiencing slower growth, impacting the eyeglass frame market, but high-value products like smart and customized frames are seeing growth, indicating a shift from "scale expansion" to "value enhancement" in the industry [1][11] Industry Development History - The Chinese eyeglass frame industry has evolved through four main stages: the embryonic stage (1950s-1970s), growth stage (1980s-1990s), rapid development (2000-2010), and full competition (2010-present) [4][5] - The industry began with handmade production and limited product variety, transitioning to a more diverse and quality-focused market with the introduction of foreign brands and new materials [4][5] - Technological advancements have significantly improved materials, design, and functionality, enabling domestic companies to compete with international brands [4][5] Industry Chain - The upstream of the eyeglass frame industry includes raw materials (metal and non-metal materials) and production equipment, while the midstream focuses on manufacturing [8] - The downstream primarily serves the eyewear industry, indicating a well-structured supply chain [8] Current Industry Status - The eyeglass frame industry is characterized by a mix of diversified and concentrated competition, with leading companies and emerging brands shaping the market dynamics [13] - Notable companies include LUXOTTICA, which offers a wide range of products, and domestic firms like Zhongshan Tuokai Optical, focusing on high-cost performance products [13] Key Companies' Performance - Companies like Wanxin Optical and Hengfa Optical are significant players in the industry, with Wanxin being a leading manufacturer in Asia and Hengfa focusing on precision manufacturing and rapid response capabilities [14][15] - Wanxin Optical has a production capacity of over 3.5 million frames annually and exports to nearly 40 countries, while Hengfa Optical has a strong presence in the European market [14][15] Industry Development Trends - The industry is witnessing a shift towards smart and multifunctional products driven by technological innovation, with products like AR glasses gaining traction [17] - Consumer preferences are evolving towards personalized and high-end products, with companies offering customization services to enhance brand loyalty [19] - The global competitiveness of the Chinese eyeglass frame industry is increasing, with exports reaching 30.441 billion yuan in 2024, indicating a transition from "OEM export" to "brand expansion" [20]