Core Viewpoint - Mingyue Lens is entering a new strategic phase, emphasizing innovation and commitment to visual health, while leveraging its brand ambassador, Olympic diving champion Guo Jingjing, to enhance brand recognition and social responsibility in youth myopia management [1][3][9]. Group 1: Brand Development and Strategy - Mingyue Lens has evolved from a "hidden champion" focused on technology research to the leading domestic lens brand in market share, driven by innovation in product iteration, technological breakthroughs, and market expansion [3]. - The company has committed to investing approximately 150 million yuan in research and development over the past five years, with a projected investment of no less than 300 million yuan in the next five years, aiming for at least 5% of sales revenue [5]. - Mingyue Lens aims to establish itself as a technology-driven company, emphasizing the importance of protecting visual health for Chinese consumers [5]. Group 2: Product Innovation and Market Position - Mingyue Lens has introduced innovative products such as the Easy Control, PMC Ultra Bright, and high-index thin series lenses, catering to diverse consumer needs [5]. - The company has achieved significant technological advancements, including self-developed 1.71 refractive index lenses and pioneering 3D internal engraving technology [13]. - Clinical research indicates that the Easy Control Pro 2.0 lens effectively slows myopia progression with an efficacy rate of 73.82% [15]. Group 3: Partnerships and Collaborations - Mingyue Lens has signed a cooperation agreement with the Jenvis Innovation Research Center at Jena University, aiming to integrate strengths in optical technology research and accelerate internationalization [17]. - The collaboration is expected to enhance Mingyue Lens's position as a representative brand in the optical field on the international stage [17]. Group 4: Social Responsibility and Awareness - The partnership with Guo Jingjing aims to raise awareness about youth myopia management, with initiatives like the Youth Vision Care Program launched during the brand event [9]. - Mingyue Lens emphasizes the importance of social responsibility in addressing the severe issue of myopia among youth, aligning its brand mission with public health goals [9][15].

Group 1: Financial Performance - In 2024, the company achieved total revenue of 770 million yuan, a year-on-year increase of 2.88% [1] - The gross profit margin was 58.56%, up 0.98 percentage points from the same period last year, with a net profit attributable to shareholders of 177 million yuan, an increase of 12.21% year-on-year [1] - For Q1 2025, the company reported total revenue of 197 million yuan, a year-on-year increase of 2.63%, and a net profit of 47 million yuan, up 11.70% year-on-year [1] Group 2: Product Performance - The lens business grew by 8.72% year-on-year after excluding the negative impacts of overseas and raw material businesses, with star products performing exceptionally well [1] - The PMC Ultra Bright series saw revenue growth of nearly 45.6%, with three star products accounting for 54.6% of total revenue from regular lenses [1] - The "Easy Control" product line maintained rapid growth, with Q4 2024 sales reaching 41.58 million yuan, a year-on-year increase of 23.6%, and total sales for the year at 163.65 million yuan, up 22.7% [1] Group 3: Strategic Partnerships and Market Position - In April 2024, the company announced an exclusive partnership with Leica, focusing on high-end lens markets in China [2] - The company primarily operates in the domestic market with a direct sales model complemented by distribution, optimizing its customer structure [2] - By the end of 2024, the company had 2,707 direct sales customers and 66 distribution customers, including medical channels [2] Group 4: Future Projections - Revenue projections for 2025-2027 are 859 million, 951 million, and 1.05 billion yuan, with year-on-year growth rates of 11.5%, 10.7%, and 10.4% respectively [2] - Net profit projections for the same period are 199 million, 227 million, and 257 million yuan, with growth rates of 12.5%, 14.2%, and 13.3% respectively [2]