About CONANT OPTICAL Company

We are China's leading manufacturer of plastic eyewear lenses, and have sold in over 80 countries during our track record period, including but not limited to China, the United States, Japan, India, Australia, Thailand, Germany and Brazil. According to Frost & Sullivan's report, although glass is a traditional lens material, since resin lenses have high impact resistance and are safe to wear, resin lenses accounted for about 95% of China's eyeglass lens production in 2020. Furthermore, according to Frost & Sullivan's report, based on production value, the resin eyeglass lens market size of the Chinese eyewear industry was RMB 11,6333 million in 2020. In 2020, based on resin eyeglass lens production, we ranked first among Chinese resin lens manufacturers, with a market share of about 8.5%, while China's resin eyeglass lens production in 2020 was 1,508.7 million pieces. According to Frost & Sullivan's report, China's resin lens manufacturing market declined from 1,598.7 million units in 2015 to 1,508.7 million units in 2020, as the global market went through a commercial cycle and inventory cycle, and China's overall resin lens production from 2016 to 2020 showed an upward trend in terms of total production. Our production for the year ended December 31, 2019 increased compared to the year ending December 31, 2018, mainly due to an increase in overall sales for the relevant period; production for the year ended December 31, 2020 decreased compared to the year ending December 31, 2019, and the overall sales volume decreased for the relevant period. The main reason for this was a decrease in our overseas sales of standardized lenses in 2020 due to the COVID-19 pandemic. As the global economy recovers after the COVID-19 pandemic, and with more and more people suffering from refractive error, China's total production is expected to rise to 1,559.0 million pieces in 2025. In China, the share of resin lenses in eyeglass lens production rose 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, based on revenue from resin eyeglass lenses in 2020, we ranked ninth, with a market share of about 0.4%, and were the only group headquartered in China among the top ten global market participants.