OVC companies report robust growth in Q3

The A-share listed companies in Wuhan East Lake High-tech Development Zone (Optics Valley of China, or OVC) have recently released their third-quarter financial reports, showcasing impressive growth across several key industries, including optoelectronic information, life sciences, and gaming.

OVC now boasts a total of 70 companies, both domestically and internationally, listed. By Oct 31, the total market capitalization of OVC's A-share listed companies had increased by 38.3 percent year on year, with net profits attributable to shareholders up by 21.1 percent. Leading the pack, HGTECH holds the highest market capitalization at 80.26 billion yuan ($11.3 billion), while Humanwell Healthcare leads in revenue with 17.88 billion yuan.

The optoelectronic information sector has performed remarkably, with five companies – Guide Infrared, Ligong Guangke, Jingce Electronic, Raycus Laser, and Huarong Holdings – each reporting more than doubled net profits attributable to shareholders in Q3.

Raycus Laser, a leader in fiber laser technology, saw its Q3 net profits increase 107 percent year-on-year. The company recently launched four new industrial laser models featuring globally leading performance metrics.

In the life sciences sector, companies like Cabio Biotech and Keqian Biology reported simultaneous growth in both revenue and net profits for the first three quarters. Cabio Biotech's increased sales of ARA and algal oil DHA products contributed to a 54.18 percent year-on-year rise in net profits, with gross margins reaching a new high.

The performance of these listed companies serves as an indicator for the regional economy. In the first three quarters, OVC's GDP reached 235.04 billion yuan, reflecting a 6.3 percent year-on-year growth. As of Oct 31, the total investment and financing in the zone amounted to 22.09 billion yuan.