Dearer Medical Initiates IPO May Become First Listing Colored Contact Lenses Company
- Chaileedo Press
- Jun 19, 2023
- 3 min read
Shanghai Dearer Medical Devices Co., Ltd. (hereinafter referred to as "Dearer Medical") signed a listing counseling agreement with Oriental Securities Investment Bank on June 12, 2023. This means that Dearer Medical has officially launched the A-share IPO process and may become the first colored contact lenses company to go public.
Shanghai Dearer Medical Devices Co., Ltd. (hereinafter referred to as "Dearer Medical") signed a listing counseling agreement with Oriental Investment Bank on June 12, 2023. This means that Dearer Medical has officially launched the A-share IPO process and may become the first colored contact lenses company to go public.
Dearer Medical was established on July 3, 2017, and is mainly engaged in the research, development, production, and sales of Class III medical device products (colored contact lenses). It has R&D, production, and sales centers in Shanghai, Jilin, Suzhou, Xi'an, and South Korea.
Dearer Medical holds invention patents such as internal coating technology and currently has a comprehensive advantage in the design and production of colored contact lens lenses in the industry. Dearer Medical has always been committed to and continuously increased its innovation and investment in R&D, including the development of new materials, and mold development, and has achieved multiple research results.
Dearer Medical currently has 9 Class III medical device registration certificates, covering a full product line of daily, monthly, semi-annual, and annual disposable contact lenses. Among them, 8 are colored contact lens medical device registration certificates, and 1 is a regular contact lens medical device registration certificate. In addition, Dearer Medical has an industry-exclusive 7-color and pearl color film registration certificate, which can maximize the company's design advantages. Dearer Medical can launch more than 1,000 new designs every month, with a product design conversion rate of up to 30%, leading the industry domestically.
The core positioning of Dearer Medical is a colored contact lens ODM manufacturer. Up to now, Dearer Medical has 10 product registration certificates, including 4 daily disposable colored contact lens registration certificates, 5 long-term disposable colored contact lens registration certificates, and 1 long-term disposable light blue film registration certificate, making it the manufacturer with the most daily disposable colored contact lens registration certificates in China.
At the same time, Dearer Medical has both full mold pressing and semi-mold semi-cutting processes, which can meet the process requirements of daily disposable and long-term disposable lenses; supplemented by internal coating technology, it ensures that the pigment layer does not encounter the eyeball, enhancing safety. Moreover, Dearer Medical has more complex optical design and processing capabilities, allowing for more precise processing of astigmatism lenses and higher production process flexibility.
In terms of production capacity, Dearer Medical has built a total of 4 production bases and plans to build 2 more production plants in Shanghai, with the first phase expected to be put into operation this year and the second phase next year. After being put into operation, the annual production capacity of the two plants can reach 10 billion pieces.
Up to now, Dearer Medical has reached cooperation with leading colored contact lens brands such as Kilala, Shanghai Jialiang, 4inLOOK, Sweet Color, etc. According to Dearer Medical, it can launch more than 1,000 new designs every month.
To better understand the operational logic of colored contact lens brands, Dearer Medical has launched its own brand REALKOKO. As of now, the official REALKOKO store can be found on the JD platform, with few SKUs and sales volume. The price range for REALKOKO products is between 149-164 yuan, which is relatively high for colored contact lenses.
According to data from Sinolink Securities, the market size of the colored contact lens industry increased from 4.2 billion yuan ($587.25 million) to 28.2 billion yuan ($3.94 billion) from 2016 to 2021, with an annual compound growth rate of 46%. It is expected that by 2025, the overall market size of colored contact lenses will reach 47 billion yuan ($6.57 billion).
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