Institutional Research | Pharmaceuticals + Medical Consumables + Trading Below Book Value Stock - This Company Surged to Daily Limit Today, Core Product Raw Materials Have Entered Price Increase Cycle

On March 13, several listed companies released investor relations activity record announcements, disclosing their business communication content with institutions, revealing many progress and highlights in their business layouts.

Lanfan Medical: Rising oil prices drive raw material costs; Health Protection Division has significant performance flexibility this year

Lanfan Medical was surveyed yesterday by 10 institutions including CITIC Securities, China Merchants Fund, and Taikang Asset Management.

During the survey, Lanfan Medical stated that, currently affected by international geopolitical situations, the rise in crude oil prices has led to significant increases in the prices of core raw materials for gloves such as nitrile latex, DOTP, and PVC paste resin. The industry has entered a price increase cycle, and historical experience shows that the end prices of gloves usually increase more than raw material prices. The company has preemptively stocked raw materials through strategic procurement, locking in raw material costs for the first half of the year. Additionally, related parties and investment entities will help ensure stable raw material supply. The Health Protection Division’s performance in 2026 is expected to be highly flexible.

“Currently, upstream raw material prices are highly volatile, and many suppliers have stopped quoting, with the market in a ‘buying spree’,” Lanfan Medical explained. The company has two unique advantages in raw material security: its Thai subsidiary, an industrial investor, has over 200,000 tons of nitrile latex capacity; and its controlling shareholder’s chemical sector is a leading enterprise in plasticizers and paste resins nationwide, also being a major supplier of raw materials for PVC gloves.

According to Lanfan Medical, the overall demand for gloves is mainly necessity-based, and price increases have limited impact on demand. The market demand has a stable growth foundation. Meanwhile, the company’s high-end polyurethane gloves, developed jointly with Wanhua Chemical and launched to the market, have received positive feedback and repeat orders. The growth potential of this high-end product confirms the market’s acceptance of glove prices. “Currently, glove prices are on the rebound, with considerable room to reach industry-expected price levels.”

In the cardiovascular and cerebrovascular sector, Lanfan Medical said that valve products are one of the largest growth drivers overseas. Since obtaining EU CE certification for the new-generation transcatheter aortic valve replacement (TAVR) system in June 2025, sales have rapidly increased. In January-February 2026, monthly sales exceeded the average monthly level of the second half of last year, with product competitiveness significantly enhanced due to the reusability feature. The Lithonic intravascular shockwave treatment system received EU CE certification in January 2026, with the first batch shipped overseas last week, soon to officially enter international sales.

Lanfan Medical’s business segments include the Cardiovascular and Cerebrovascular Division, Health Protection Division, and Emergency Medical Services Division, covering products in cardiovascular, health protection, and emergency rescue fields.

In the secondary market, Lanfan Medical surged to the daily limit today, with a total increase of 24.84% since March.

Crystal-Optech: HUD business has covered multiple mainstream automakers; new clients and projects will be launched successively

Crystal-Optech recently received surveys from Caitong Securities, Hopu Investment, and other institutions.

During the survey, Crystal-Optech stated that its HUD business has been expanding smoothly, covering major automakers such as Changan Shenlan, Dongfeng Lantu, and Li Auto. New clients and projects will be launched successively. As HUD further becomes a standard feature across various vehicle models, combined with the company’s client expansion and product upgrades, the shipment volume of HUD is expected to maintain steady growth.

In the AR sector, the company has been investing in related fields for over a decade, focusing on core R&D. The company concentrates on three core products in AR: waveguide plates, optical projection modules, and optical components related to 2D and 3D. “The company adheres to a major client strategy, focusing on deep cooperation with leading clients with ecological strength and strategic investment, and concentrating resources on core technologies and mass production processes.”

“AI optics are part of the company’s third growth curve, driven by new demands from AI development,” Crystal-Optech revealed. Currently, related projects are still in R&D and have not yet achieved large-scale production, so business implementation remains uncertain. The company will communicate progress with investors once project technology maturity and client certainty improve.

Regarding coated optical filters, Crystal-Optech said that this is a core incremental business in the company’s consumer electronics optical field in 2025. The company has achieved stable mass production in the second half of the year, with capacity ramp-up and customer delivery progressing in an orderly manner. Business development is on track with expectations. Starting this year, this business will officially enter a share-rising phase, aiming for a higher market share in the medium to long term.

Crystal-Optech also stated that, in the medium to long term, its core products have strong barriers, customer demand remains high, and with capacity gradually releasing and multiple projects landing, the company is confident in maintaining steady operations.

Crystal-Optech focuses on the R&D, production, and sales of imaging optical components, automotive electronics (AR+), reflective materials, and related products. Its products cover optical components, modules, and solutions, widely used in smartphones, cameras, smart wearables, smart home devices, financial payments, security monitoring, vehicle optics, AR/VR, and other fields.

Zheshang Securities’ latest research report pointed out that as global tech giants accelerate the deployment of lightweight AI+AR glasses in 2026-2027, Crystal-Optech, with its ready capacity advantages, is poised to become a new growth engine for the company’s future, with its waveguide business expected to leap forward.

In the secondary market, Crystal-Optech closed up 7.43% today, with a 15.90% increase since February.

(Source: Eastmoney Research Center)