HK Stock Market Move | CONANT OPTICAL (02276) rose nearly 4%, with a year-on-year increase in net profit expected to exceed 30%. Institutions are optimistic about its breakthrough with XR top customers.

CONANT OPTICAL (02276) rose nearly 4% again, as of the time of publication, it had risen by 3.83% to HK$25.75, with a turnover of HK$29.0965 million. On the news front, CONANT OPTICAL has recently announced a profit increase, expecting the shareholders' net profit for the year ending December 31, 2024 to increase by not less than 30% year-on-year. The increase is mainly due to the company achieving good results in expanding its business market, steady revenue growth; diversification of lens types, with a gradual increase in the proportion of high value-added products; and the company continuously optimizing its financing structure and scale to increase profit levels, reduce financing costs, and further decrease financial expenses. Cinda pointed out that the company mainly develops international top customers, different from the domestic buckle/plug/magnetic nearsighted lens solutions, fitting lenses are an important direction for overseas promotion, with significantly improved comfort and lighter lens weight. The company has previously announced that it has received research and development fees and small trial orders from top American customers, introduced Geely as a strategic shareholder (strategic placement + transfer of old shares, with a total holding of nearly 20%), and plans to invest in an XR production base in Thailand, based on the company's accumulation of over ten years of customized lens production capacity, it is expected to successively break through top customers.