About CONANT OPTICAL Company

We are a leading manufacturer of resin eyeglass lenses in China, and have sold in over 80 countries during the record period, including but not limited to China, the United States, Japan, India, Australia, Thailand, Germany, and Brazil. According to the Frost & Sullivan report, although glass is a traditional lens material, due to the high impact resistance and safety of resin lenses, resin lenses accounted for about 95% of the production value of eyeglass lenses in China in 2020. Furthermore, according to the Frost & Sullivan report, the market size of resin eyewear lenses in China's eyewear lens industry was RMB 11633.3 million in 2020 based on output value. In 2020, based on the production of resin eyeglass lenses, we ranked first among Chinese resin lens manufacturers, with a market share of about 8.5%. In 2020, the production of resin eyeglass lenses in China was 1508.7 million pieces. According to the Frost & Sullivan report, due to the global market going through a commercial cycle and inventory cycle, China's resin lens manufacturing market declined from 1598.7 million pieces in 2015 to 1508.7 million pieces in 2020, while the overall production of resin lenses in China from 2016 to 2020 showed an upward trend. Our production for the year ended December 31, 2019 increased compared to the year ended December 31, 2018, mainly due to an increase in overall sales during the relevant period; production for the year ended 31 December 2020 decreased compared to the year ended 31 December 2019, due to a decrease in overall sales during the relevant period. The main reason for this was the decrease in overseas sales of standardized lenses in 2020 due to the COVID-19 pandemic. As the global economy recovers after the COVID-19 pandemic, and more people are suffering from refractive errors, China's total production is expected to rise to 1,559 million pieces in 2025. In China, the share of resin lenses in eyeglass lens production increased from 92.3% in 2015 to 94.0% in 2020, and is expected to increase to 95.8% in 2025. Based on the export value of resin eyeglass lenses in 2020, we are the largest exporter in China, with a market share of about 7.3%. Looking at the world, in terms of revenue from resin eyewear lenses in 2020, we are ranked 9th, have a market share of about 0.4%, and are the only group headquartered in China among the top ten global market players.