Contact lens manufacturer VIZIONFOCUS has been actively developing its markets in China, Japan, and Taiwan in the first half of the year, while also laying the groundwork for expansion into Europe and the U.S. Through economies of scale, optimized product mix, and targeted channel strategies, the company aims to maintain a gross margin of around 40% for the full year. VIZIONFOCUS expects growth momentum in China to slightly surpass that of Japan in the second half, while European and U.S. markets will take time to mature. Overall, H2 revenue is expected to continue an upward trend, outperforming both H1 and the same period last year, with full-year revenue growth forecasted at approximately 10–15%.
In Japan, VIZIONFOCUS focuses on differentiated products to capture market share, including new launches such as “Flash” and second-generation blue-green light lenses. Strong growth in H1 was supported by the large number of new products, though the pace of growth is expected to moderate in H2 as fewer new products are introduced. The Japanese market commands higher prices and gross margins than China, and with pricing in U.S. dollars, exchange rate stability helps maintain profitability.
In China, H1 revenue accounted for roughly 45% of total sales, down more than ten percentage points year-on-year due to a sharp decline in demand for clear lenses. Although colored lens demand continued to grow, significant price reductions affected revenue. The company is accelerating expansion of its colored lens production line; with clear lens orders expected to recover in Q3, colored lens demand is also projected to rise, leading to overall shipment growth exceeding revenue growth. Price competition in China is expected to persist for another two years, after which weaker brands may exit, stabilizing the market. VIZIONFOCUS plans to offset price pressures through short supply chains, cost control, and product mix adjustments, while supporting high-potential customers to expand market share.
Taiwan, the company’s domestic market, accounted for only about 4% of revenue last year. To reduce reliance on China, VIZIONFOCUS has recently increased investment in Taiwan, leveraging subsidiaries to manage Chinese and Japanese brands and entering drugstore channels such as Cosmed and Watsons. This strategy has shown rapid results, raising Taiwan’s revenue contribution to 6%, with a medium-term target of 8–10%.
Expansion into Europe and the U.S. is expected to take two to three years, with significant revenue contributions projected to start in the year after next. The company is targeting small clients first, gradually expanding to regional distributors. In the U.S., revenue is mainly driven by the ECP (eye care professional) channel, with volume retailers like Walmart and Costco representing about 10%. Initial engagement has begun, though tangible results are not yet realized, and online channels are not currently pursued. Since product demand differs from Asia, R&D efforts are focused on astigmatism, multifocal, and silicone hydrogel lenses to meet local market needs.
VIZIONFOCUS posted consolidated revenue of NT$1.965 billion in H1, up 14% year-on-year, with a gross margin of about 41% and EPS of NT$5.9. With rising daily lens demand in China, stable shipments in Japan, rapid expansion in Taiwan, and strategic preparation in Europe and the U.S., the company expects to maintain growth in H2, outperforming both last year and H1. Analysts forecast full-year revenue growth of roughly 10–15%, with gross margin remaining around 40%.
Resource: 望隼多市場布局發酵，H2營收成長續航，全年估增10-15%
