Hot spots of the week
Myopia prevention and control mainly includes three technologies: corneal shaping lens, defocus frame lens and low concentration (0.01%) atropine eye drops. The corneal shaping lens (OK lens) is directly worn on the cornea to temporarily reduce the degree of myopia by temporarily changing the corneal shape. The prevention and control effect is good, but the price is high (the price of each lens is 7000-9000 yuan, and it needs to be replaced once a year and a half to two years). Defocus lenses control the growth of the eye axis by producing myopia defocus. The wearing method is simple and has no difference from conventional frame glasses. The prevention and control effect is worse than that of corneal plastic lenses. At the same time, the price is significantly lower than that of corneal plastic lenses (the price of each lens is 1400-4000 yuan, and the degree change exceeds 50 degrees, which needs to be replaced, with an average of about one to two years). Atropine eye drops with low concentration (0.01%) can effectively slow down the progress of myopia. At present, no products have been approved by the food and Drug Administration for listing, and most of them are self-made preparations in hospitals.
Myopia prevention and control principle of defocus lens: wearing ordinary myopia glasses may cause “peripheral hyperopia defocus”, resulting in deepening myopia: the single focus lens (ordinary myopia glasses) has only one brightness, and the object seen through the middle of the lens is imaged on the retina, but the object seen through the periphery of the lens will be imaged behind the retina, which is called “peripheral hyperopia defocus”. In order to see objects clearly, the human eye will elongate backward to make it image on the retina. As a result, the eye will elongate and deepen myopia. The function of defocus lens is to reduce the “peripheral hyperopia defocus”. Through the special design of the lens degree in the middle area, the image is projected onto or in front of the visual area to block the “peripheral hyperopia defocus”, so as to slow down the deepening of myopia.
On the demand side, the myopia rate of Chinese teenagers will reach 53% in 2020, and the problem of low age myopia is prominent. In 2020, the myopia rate of children and adolescents in China was 52.7%. Among them, 14.3% were 6-year-old children, 35.6% were primary school students, 71.1% were junior middle school students and 80.5% were senior high school students. The myopia rate in primary school is rising rapidly, and the myopia rate increases by 9.3 percentage points for each grade. Therefore, kindergartens and primary schools are the key age stages for myopia prevention and control in China. According to iResearch’s 2021 white paper on China’s glasses and lenses industry, 54.5% of respondents believe that the core demand for lenses is myopia management and delaying the growth of myopia in children and adolescents. At present, the market has a certain awareness of myopia prevention and control.
At present, the main products in China’s defocus lens market come from three international brands: Zeiss, haoya and Yishilu. With the launch of easy control and easy control pro in 2021, Mingyue lens is expected to gradually expand the defocus lens market and bring the second growth curve to the company by virtue of product cost performance and channel resources. At present, there are few defocus lens products in China’s market. In 2010, Zeiss launched the first defocus lens product “growth music”, and then haoya didn’t launch the second product “xinlexue” until 2018. In 2020, a variety of products began to be listed intensively. In 2020, Yishilu launched “Xingqu control” and Wanxin launched “yihun”. In 2021, Mingyue lens successively launched “easy control + easy control pro” and Eyebright Medical Technology(Beijing) Co.Ltd(688050) launched “Puno pupil”. In the past, the defocus lens market had few categories and high market concentration, resulting in high prices. The bright moon lens easy control (pro) product has obvious cost-effective advantages. The price of easy control is 1498 yuan, and the price of products competing with the technology is 1880-4000 + yuan; The price of easy control pro is 2598 yuan, and the price of products competing with the technology is about 4000 yuan.
Industry regular data update
Brand clothing: according to the statistics of magic mirror’s whole network e-commerce data (including the total retail sales of Taobao, jd.com, Suning, Gome and other platforms, excluding returns), in January 2022, the year-on-year changes in the whole network e-commerce sales of major sports brands in a single month were: Li Ning (+ 75.5%), Anta (+ 89.9%), FILA (+ 67.7%), Tebu (+ 41.7%), di Sante (+ 60.8%) Archaeopteryx (+ 88.0%); Among international brands, Nike (+ 22.6%), Adidas (- 32.2%), andrma (+ 74.9%) and Lulu lemon (+ 53.4%); Among professional and casual clothing brands, bosden (+ 55.7%) and Ningbo Peacebird Fashion Co.Ltd(603877) (+ 24.1%).
Household: according to the data of the General Administration of customs, the total export of household and parts in China in December 2021 was US $7.15 billion, a year-on-year decrease of 4.0%, and the growth rate fell by 5.9 PCT. According to the data of the General Administration of customs, in December 2021, the export amount of metal frame sofas such as functional sofas was US $900 million, a year-on-year decrease of 11.9%, the export amount of functional office chairs was US $430 million, a year-on-year decrease of 21.3%, and the export amount of spring mattresses was RMB 80 million, a year-on-year decrease of 21.4%.
Papermaking: according to the data of Zhuo Chuang information, as of February 18, the market prices of broad-leaved pulp, coniferous pulp, double copper paper, double gummed paper, household paper and white cardboard were 5374, 6427, 5380, 5825, 6450 and 6195 yuan / ton respectively, with a month on week change of 1.12%, 1.19%, 0, 2.19%, 0.26% and 2.91%; The market prices of waste paper, box board paper, corrugated paper and white board paper were 2290, 4928, 3922 and 4930 yuan / ton respectively, with a month on week change of – 1.08%, 0.35%, 0.08% and 0.51%.
Cultivated diamonds: according to the data of GJEPC, the import and export data of cultivated diamonds in India: in January 2022, the import amount of rough diamonds cultivated in India was 152 million US dollars (+ 77.3%), with a chain ratio of + 16.2%, accounting for 11.2% of the import volume of diamond categories; In January, the amount of cultivated diamond exports was US $122 million (+ 70.1%), with a month on month ratio of + 18.1%, accounting for 5.6% of diamond exports.
One week recommended portfolio
Light industry: Minhua holdings, Jason Furniture (Hangzhou) Co.Ltd(603816) , Xlinmen Furniture Co.Ltd(603008) , Suofeiya Home Collection Co.Ltd(002572) , Quzhou Wuzhou Special Paper Co.Ltd(605007) , Shenzhen Jinjia Group Co.Ltd(002191)
Textile clothing: Huali Industrial Group Company Limited(300979) , Li Ning, Anta sports, Shenzhou International
Meihu: Imeik Technology Development Co.Ltd(300896)
Risk warning: real estate sales fluctuate; Sino US trade friction; Industry competition intensifies; The exchange rate fluctuated sharply.
