Elegance Optical's Subsidiary Gains Entry into PetroChina's Supplier Network

Stock News
Feb 10

ELEGANCEOPTICAL (00907) announced that its wholly-owned subsidiary, Jiangsu Shengji Investment Holding Co., Ltd. (Jiangsu Shengji), participated in the "2026 First Phase Non-Fuel Commodity Supplier Qualification Project" tender organized by Petrochina Company Limited (601857) Liaoning Sales Branch. Following evaluation by the bid assessment committee, Jiangsu Shengji has been identified as a selected bid candidate for "Lot 2" of the project. According to the "Selected Bid Candidate Public Notice" published on the PetroChina Tendering Website on February 6, 2026, Jiangsu Shengji was included in the list of selected candidates for that lot. The product categories that selected candidates can supply, as specified by the lot's requirements, explicitly include sunglasses. This project is a tender by PetroChina Liaoning Sales to select qualified suppliers for its non-fuel commodity procurement. Jiangsu Shengji serves as a major sales platform for the Group's eyewear products in mainland China. Being rated as a selected bid candidate signifies its eligibility to become a supplier for PetroChina Liaoning Sales within the general merchandise category, which includes items like sunglasses. Upon final confirmation of the selected candidate status, the qualification will be valid until December 31, 2028. Subsequent specific cooperation will require annual supplier assessments and the signing of contracts through commercial negotiations. The Board of Directors believes this achievement carries multiple positive implications. Firstly, it represents formal recognition by PetroChina, obtained through an open and competitive process, of the quality and overall competitiveness of the eyewear products, including sunglasses, offered by the Group's subsidiary. Secondly, it successfully secures a key supplier qualification for the Group's core product—sunglasses—to enter the extensive network of convenience stores within PetroChina's gas stations in Liaoning Province, opening the door to a potentially vast retail channel for the Group's main business. More importantly, PetroChina operates numerous sales branches nationwide, and its non-fuel commodity supplier qualification system often serves as a reference for tenders by other branches. This successful pre-qualification with the Liaoning branch is not merely an isolated business outcome; it also establishes a solid foundation and accumulates valuable experience for the Group's future participation in similar supplier qualification projects with other regional branches of PetroChina, demonstrating the replicability and expansion potential of the Group's products and business model. This development aligns closely with the Group's strategy to expand its eyewear product sales network.

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