Elegance Optical Subsidiary Selected as PetroChina Hebei Marketing Supplier Candidate

Key Highlights

• Elegance Optical International Holdings Limited announced that its wholly-owned subsidiary, Jiangsu Sheng Ji Investment Holding Limited, has been successfully shortlisted as a supplier candidate in PetroChina Hebei Marketing Company’s supplier database.
• The selection was part of the “2026 Second Batch of Provincial Procurement Non-Fuel Product Supplier Shortlisting” public tender, specifically for the General Merchandise Category.
• This category explicitly includes Elegance Optical’s core products: sunglasses and related daily necessities.
• The shortlisting is valid until March 2028, subject to annual supplier assessments and commercial contract negotiations for specific cooperation.
• This marks renewed recognition by PetroChina of the Group’s product quality and competitiveness, following earlier successful inclusion in PetroChina Liaoning Marketing Company’s supplier database.
• The publicity period for the selection ended on 9 March 2026, but as of the announcement date, Jiangsu Sheng Ji has not yet received the formal shortlisting notification.

Detailed Analysis

Elegance Optical International Holdings Limited—listed on the Hong Kong Stock Exchange (Stock Code: 907)—has issued a voluntary announcement regarding a significant business development. The Group’s subsidiary, Jiangsu Sheng Ji Investment Holding Limited, participated in a PetroChina Hebei Marketing Company public tender for non-fuel product suppliers. The tender process involved rigorous evaluation by a committee, and Jiangsu Sheng Ji was identified as a winning bidder candidate for the General Merchandise Category. The candidate list was officially announced on the PetroChina Tendering and Bidding Website on 6 March 2026.

The General Merchandise Category covers the Group’s core products, such as sunglasses and daily necessities, directly aligning with Elegance Optical’s main business. The successful shortlisting enables Jiangsu Sheng Ji to supply these products to PetroChina Hebei Marketing’s extensive offline retail network across North China, boosting the Group’s market penetration and growth prospects.

Upon final confirmation, the qualification period will extend through March 2028. However, the Group must undergo annual supplier assessments and engage in commercial negotiations for contract signing. The announcement also notes that the shortlisting does not guarantee actual procurement orders—actual purchases depend on PetroChina Hebei Marketing’s needs and subsequent negotiations.

Significance for Shareholders and Potential Investors

• Market Expansion: This development opens access to PetroChina’s retail channels in North China, representing a major opportunity for sales growth of sunglasses and related products.
• Strategic Alignment: The successful bid reinforces the replicability and sustainability of Elegance Optical’s business model, aligning with its strategic goal of expanding the sales network for eyewear products.
• Recognition by State-Owned Enterprises: Inclusion in PetroChina’s supplier database is a strong endorsement of product quality and competitiveness, potentially improving brand perception and negotiating leverage.
• Potential Price Sensitivity: If formal shortlisting is confirmed and actual procurement contracts are signed, it could positively impact the Group’s revenue and share value. However, investors should note the risk that shortlisting does not guarantee procurement, and future orders are subject to PetroChina’s requirements.
• Risk Factors: The announcement contains forward-looking statements, and actual outcomes may differ due to various uncertainties and factors beyond management’s control.

Board Statement and Caution

The Board of Directors, led by Chairlady and Executive Director Ms. Zhu Guohua, emphasizes that while this shortlisting is significant, it does not constitute a legally binding procurement commitment from PetroChina Hebei Marketing. The final qualification depends on the conclusion of the publicity period without objections. Shareholders and investors are advised to exercise due diligence and not rely solely on this announcement for investment decisions.

Forward-Looking Statements and Disclaimer

This article contains forward-looking statements based on current assumptions, estimates, and projections. Actual outcomes may differ due to risks and uncertainties. Investors should not consider these statements as guarantees or assurances of future performance. Elegance Optical International Holdings Limited and its directors, officers, employees, agents, affiliates, advisers, or representatives assume no responsibility to update these statements or provide supplemental information or corrections.

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