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]

Core Insights - The company Oupinkangshi (300595) reported positive feedback on the promotion of its DK185 orthokeratology lenses during an online meeting held on August 25 [1] - The proportion of new products in terms of order volume has been gradually increasing, with the share rising from approximately 0.6% in June, the first month of product launch, to 7% currently [1]

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]