VIZIONFOCUS reported a record high earnings per share (EPS) of NT$11.81 for 2023, despite being impacted by the broader economic environment in China, which resulted in underutilized capacity and a gross margin of 39%, down one percentage point year-over-year. Nevertheless, net income attributable to the parent company reached NT$669 million, representing a 19.03% increase compared to the previous year.

The company noted that due to insufficient capacity utilization in 2024, costs have not yet been fully optimized. As a result, the gross margin stood at 39%, one percentage point lower than the 40% recorded during the same period last year. Additionally, with the reversal of expected credit losses contributing to higher operating expenses, the operating profit margin was 30%, a decrease of 2 percentage points from 32% the previous year.

Although VIZIONFOCUS's current operational performance has not met earlier expectations, February revenue reached NT$259 million, an 18.3% increase year-over-year. Cumulative revenue for January and February totaled NT$516 million, reflecting a 4.62% decline compared to the same period last year. The company remains optimistic about first-quarter revenue outperforming the previous quarter, supported by recovering orders from customers in Japan and China and the shipment of its silicone hydrogel products to the U.S. at the end of February. With the introduction of new products and customers in the second quarter, VIZIONFOCUS anticipates a steady, quarter-on-quarter growth trajectory throughout the year.

The company also highlighted that its independently developed daily disposable silicone hydrogel contact lenses have received FDA certification in the United States, marking a major milestone for expansion in the U.S. market. Currently, silicone hydrogel products account for just 1% of VIZIONFOCUS's total revenue, but as certifications are secured across additional markets this year, sales of silicone hydrogel products are expected to multiply significantly.

Silicone hydrogel lenses are known for their excellent oxygen permeability and comfort, allowing more oxygen to reach the eyes, which promotes eye health and ensures all-day comfort. This product segment has become a key driver of growth within the contact lens market.

According to industry analysts, following the launch of VIZIONFOCUS’s silicone hydrogel products in the U.S., their contribution to the company’s revenue is projected to increase from 2% last year to 5% this year. Certifications in Japan and Europe are expected by 2026. At present, the gross margin for VIZIONFOCUS’s silicone hydrogel products is comparable to its traditional hydrogel lenses. However, once production capacity is fully utilized, the company anticipates the gross margin for silicone hydrogel lenses will surpass that of hydrogel lenses by 5 percentage points.

Resource: 望隼去年EPS 11.81元創高 今年營運有望季季升