VisionFocus reported an impressive first-quarter EPS of NT$3.42, a 96.55% year-on-year increase, securing its position among the top three profit-makers in the contact lens sector. At a press conference on the 16th, VisionFocus General Manager An Shi expressed optimism for the second half of the year, citing new product launches and customer acquisitions in Japan, Greater China, and the United States, as well as seasonal demand boosting growth prospects. The company aims for rapid growth this year.
Chairman Huang Xiuchuan highlighted VisionFocus' strategic expansion into the Japanese and Greater China markets and its entry into the U.S. market with sports-oriented daily disposable contact lenses and myopia control products. These initiatives are expected to elevate VisionFocus to a world-class company.
VisionFocus's stellar performance in the first quarter saw post-tax profits of NT$182 million, a 102.5% increase year-on-year, with EPS reaching NT$3.42. The company's revenue for the first four months was NT$1.019 billion, a 52.8% year-on-year increase.
Due to high order fulfillment rates, VisionFocus plans to expand its facilities in both Greater China regions. An Shi stated that by the end of last year, VisionFocus' monthly production capacity had reached 41 million lenses, with plans to exceed 56 million lenses per month this year. The new headquarters and factory in Chunan, currently under construction and expected to be completed by 2026, will increase monthly production capacity to 160 million lenses, meeting operational needs for the next 5 to 10 years.
An Shi noted that Japan's contact lens market, with a penetration rate exceeding 30%, demands more functional products. This year, VisionFocus will promote toric, multifocal, and second-generation blue light-filtering lenses to expand market share. In the first half of the year, toric lenses have already been shipped to a major Japanese brand, with further expansion planned for other brand clients in the second half, and silicone hydrogel products to be launched in the first quarter of next year.
China's contact lens market penetration remains low at just 8%. VisionFocus’ Jiangsu-based production facility for soft disposable contact lenses offers competitive advantages through proximity to customers, ensuring continued growth momentum. The first quarter saw the launch of new products like B12-infused lenses and mint-cool lenses, with silicone hydrogel lenses planned for the second half.
In Taiwan, blue light-filtering products will be launched in the third quarter, and silicone hydrogel lenses will be shipped to new clients in the second half. The U.S. market will also see the introduction of silicone hydrogel products in the fourth quarter. Overall, VisionFocus expects strong growth in the second half of the year.
An Shi stated that China's contact lens market grows at an annual rate of 10% to 20%. Despite the first quarter being a traditional off-season with an 80% production rate, the industry is expected to peak in the second half, particularly in October and November due to the Double 11 shopping festival, marking the year's highest sales period. Additionally, VisionFocus anticipates obtaining Japanese certification for silicone hydrogel lenses in the first quarter of next year, enhancing its competitive edge in the U.S., Japan, and China markets, and fostering an optimistic outlook for future operations.
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