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Chinese maker and OEM/ODM supplier of eyeglass lenses, frames and sunglasses for global eyewear brands and retailers.
Chinese maker and OEM/ODM supplier of eyeglass lenses, frames and sunglasses for global eyewear brands and retailers.
In one line: China's answer to an eyewear ODM supplier.
Moat: narrow (scale, cost advantage, customer qualification). Large-scale optical manufacturing capacity and qualified OEM relationships with global eyewear brands.
Headquarters: Shanghai/Danyang, China · Employees: 2,890
Size Shanghai Conant Optical (2276.HK) is a Hong Kong Health Care company (Medical Specialties) with a market value of $2.27B, the 394th largest of 891 Hong Kong companies the cockpit tracks. Shares closed at HK$35.68 on 6 Nov 2026.
Performance Over six months the shares fell 27.4%, against -0.6% for the median peer and -13.4% for the Hong Kong market (cap-weighted) — 2nd lowest of 21 in its peer set.
Growth Revenue grew 8.4% over the last twelve months (peer median +6.9%); the operating margin is 29.3% (peer median 12.4%).
Valuation It trades at 22.1× forward earnings against a peer median of 25.9× (8th cheapest of 20).
Price implies For today's price to make sense, revenue must grow about -2% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is -16 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 18.8 points above its cost of capital (5.3% WACC).
Next results Next results expected around 6 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | HK$2.54B | HK$2.37B | HK$2.23B | HK$1.94B | HK$1.82B |
| Revenue growth | — | +6% | +15% | +7% | — |
| Gross profit | HK$1.09B | HK$995M | HK$883M | HK$750M | HK$625M |
| EBITDA | HK$877M | HK$747M | HK$592M | HK$492M | HK$410M |
| Net income | HK$655M | HK$605M | HK$464M | HK$361M | HK$289M |
| Free cash flow | HK$28.0M | HK$266M | HK$274M | HK$385M | HK$76.3M |
| Capital expenditure | HK$422M | HK$320M | HK$244M | HK$146M | HK$139M |
| Total debt | n/a | HK$333M | HK$338M | HK$237M | HK$399M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Shanghai Conant Optical 2276.HK | $2.27B | -27% | +8% | 29% | 22.1× | -1.6% |
| EssilorLuxottica EL.PA | $101B | +12% | +8% | 12% | 26.6× | 19.4% |
| Hoya 7741.T | $47.4B | -23% | +13% | 31% | 26.7× | 13.3% |
| Mingyue Optical Lens 301101.SZ | $1.14B | +6% | +14% | 25% | 33.7× | 10.0% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 2276.HK | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -6.5% | +5.6% | 4th lowest of 21 |
| 6-month return | -27.4% | -0.6% | 2nd lowest of 21 |
| Distance from 52-week high | -46.4% | -31.4% | 4th lowest of 21 |
| Revenue growth (TTM) | +8.4% | +6.9% | 9th highest of 21 |
| Operating margin | 29.3% | 12.4% | 3rd highest of 21 |
| Forward P/E | 22.1× | 25.9× | 8th cheapest of 20 |
| Growth the price implies (Req g, 7 yrs) | -1.6% | 10.1% | 3rd least demanding of 17 |
| Growth delivered (Del g) | +14.1% | +11.1% | 6th highest of 17 |
| Hurdle (Req g minus delivered) | -15.6 pp | -4.5 pp | 4th least demanding of 17 |
| ROIC minus cost of capital | +18.8 pp | +2.4 pp | 4th highest of 21 |
| EV / EBITDA | 18.2× | 13.7× | 5th most expensive of 12 |
| Net debt / EBITDA | -2.1× | -0.1× | 3rd least indebted of 14 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Shanghai Conant Optical 2276.HK | Hong Kong | $2.27B | -27% | +8% | 29% | 22.1× | -1.6% | +14.1% |
| Metall Zug METN.SW | Switzerland | $2.25B | +19% | 0% | -10% | 139.2× | n/a | n/a |
| Elekta EKTA-B.ST | Sweden | $2.37B | +8% | -7% | 6% | 15.1× | 10.0% | +4.0% |
| Bonesupport BONEX.ST | Sweden | $2.16B | +34% | +25% | 25% | 61.9× | 13.3% | +45.4% |
| Jafron Biomedical 300529.SZ | China | $2.46B | +8% | +1% | 37% | 25.4× | 6.9% | +0.6% |
| Micro-Tech (Nanjing) 688029.SS | China | $2.46B | +3% | +6% | 18% | 29.0× | 12.8% | +19.2% |
| EBOS EBO.AX | Australia | $2.52B | +1% | +3% | 3% | 15.2× | 4.3% | +6.8% |
| Double Medical Technology 002901.SZ | China | $2.56B | -3% | +13% | 26% | 25.9× | 8.3% | +10.4% |
| Neogen NEOG | United States | $2.57B | +30% | 0% | 0% | 34.6× | n/a | n/a |
| Establishment Labs ESTA | United States | $2.00B | -7% | +38% | -7% | n/a | n/a | n/a |
| JEOL 6951.T | Japan | $1.98B | -3% | -18% | 11% | 14.2× | 21.3% | +10.2% |
| Medacta MOVE.SW | Switzerland | $2.61B | -21% | +8% | 15% | 24.3× | n/a | n/a |
| Shandong Weigao Group Medical Polymer 1066.HK | Hong Kong | $1.96B | -4% | +7% | 14% | 8.8× | -11.8% | +2.1% |
| Mehow Innovative 301363.SZ | China | $1.95B | -14% | +10% | 21% | 38.8× | 18.9% | +12.9% |
| Veracyte VCYT | United States | $1.94B | -40% | +17% | 17% | 14.9× | 15.1% | +34.5% |
| SKAN SKAN.SW | Switzerland | $1.92B | +49% | +9% | 11% | 49.8× | 13.8% | +11.7% |
| Draegerwerk AG & Co. KGaA DRW8.DE | Germany | $1.89B | +17% | +5% | 7% | 9.4× | -12.6% | +0.4% |
| DENTSPLY SIRONA XRAY | United States | $1.89B | -14% | -1% | 5% | 7.3× | 10.2% | +1.9% |
| Inspire Medical Systems INSP | United States | $1.85B | +45% | 0% | 2% | 45.4× | 30.9% | +51.2% |
| LeMaitre Vascular LMAT | United States | $1.85B | -25% | +12% | 29% | 26.2× | 2.9% | +14.0% |
| Inner Mongolia Furui Medical Science 300049.SZ | China | $1.85B | -5% | +11% | 25% | 53.2× | 6.6% | +14.6% |