Technology Author：Beier Kan , Ivan Platonov Editor：Luke Sheehan Sep 22, 2020 02:35 PM (GMT+8)

The Chinese optics component provider Zhejiang Lante Optical started trading on the Shanghai STAR Market on September 22, at a public offering price of CNY 15.41 per share. The price rose by 126% at the end of the first trading day.

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Zhejiang Lante Optics (688127:SH) is a China-based company engaged in the R&D, manufacturing and sales of optical components. The company's products include optical prisms, glass aspheric lenses, glass wafers and automotive rearview mirrors, which are widely applied in smart phones, AR/VR products, projection and other consumer electronics.

As a shared risk in the manufacturing industry, the heavy percentage of revenues from the top five buyers are as high as 81.37% in 2017 and fell to 68.17% in 2019. Major customers of the company are the US-based equipment provider AMS Group, the applied material manufacturer Corning Inc (GLW:NYSE) and the Sunny Optical (02382:HK), which led the Lante Optics into the supply chain of major electronics companies such as Apple (AAPL:NASDAQ), Huawei and Xiaomi (01810:HK).

During the fiscal year of 2019, Lante Optics generated a total revenue of CNY 334.09 million, down 15% year-over-year. In terms of net income, it achieved CNY 135 million, decreasing 4% compared with last year. Though the revenue scale is yet to reach a huge volume, the capital market and investors showed confidence in the consumer electronics segment which is likely to keep up its rapid growth, with the emergence of new generations of display, telecom, robotics and autonomous vehicle-related technologies.