Core Viewpoint - The 2026 International Consumer Electronics Show (CES 2026) will take place from January 6 to 9 in Las Vegas, showcasing numerous A-share listed companies with their latest products in popular sectors such as robotics, smart hardware, and new energy vehicles [6]. Robotics - Ninebot will unveil a new multi-scenario lawn mowing robot, enhancing its product matrix [2]. - Stone Technology is expected to debut its "embodied intelligence black technology" as a representative of smart cleaning robots [7]. - Lingyi Technology will present a comprehensive robotics technology matrix, showcasing core components and application solutions [8]. - Zhaowei Electromechanical will showcase a new generation of dexterous hands with 20 degrees of freedom [9]. - Orbbec will release multiple 3D camera products suitable for humanoid robots, enhancing visual solutions for precise operations [9]. - Ecovacs will introduce a pool cleaning robot and the latest developments in embodied intelligence [9]. - Lens Technology will debut a highly dexterous bionic hand and head assembly, integrating self-developed reducers for improved performance [10]. - Megvii will collaborate with Yimai Intelligent to launch two new micro AI robot products [11]. Smart Glasses - Tianjian Co. will present its latest AI and AR glasses at CES 2026, focusing on AI glasses, AI headphones, and smart speakers [12]. - XGIMI Technology will globally launch its new AI glasses brand "MemoMind" [13]. - GoerTek will showcase multiple innovative MR/AR/smart glasses, enhancing the "AI + smart interaction" experience [13]. - Guangfeng Technology will present three LCoS AR optical products: Wax Girl G1, Dragonfly G1 mini, and Rainbow C1 [14]. Storage Solutions - Baiwei Storage will highlight consumer-grade storage solutions, including a Mini SSD that rivals flagship PCIe Gen4 SSDs, supporting Meta's AI/AR glasses [15]. - Jiangbolong will enhance its consumer market brand with a collaboration featuring a special edition storage product linked to the Argentina national football team [15]. - Rockchip will showcase audio and machine vision products, with its RK3588 chip being widely applied in various robotic forms [15]. Automotive Innovations - Great Wall Motors will return to CES with its full product line and core technology matrix, focusing on new energy and AI vehicles [17]. Display Technologies - TCL Technology will unveil its "machine king" series of televisions and the world's first printed OLED vehicle display solution [5]. - Hisense will launch a new generation of RGB-Mini LED display technology [5]. - BOE will showcase over 60 cutting-edge display technologies and IoT solutions, including the global debut of the "HERO 2.0 smart cockpit" [19].

Investment Rating - The industry investment rating is "Recommended," indicating an expected increase in the industry index exceeding the benchmark index by more than 5% in the next 3-6 months [15]. Core Insights - The report emphasizes the importance of exploring supply chain opportunities from the demand side, particularly in the context of the upcoming CES event, which is expected to showcase a variety of new smart glasses products [3][9]. - The report highlights that 2026 is anticipated to be a year of significant growth for smart glasses, driven by supportive policies and supply upgrades, with a focus on enhancing product features and user experience [9]. Industry Overview - The light industry manufacturing sector comprises 164 listed companies with a total market capitalization of approximately 1,094.55 billion and a circulating market value of about 934.63 billion [6]. - The absolute performance of the industry over the past 12 months has been 32.9%, while the relative performance compared to the benchmark has been 5.8% [7]. Key Company Forecasts and Valuations - 康耐特光学 (Kangnait Optical) is projected to have an EPS of 1.18, 1.45, and 1.81 for 2025E, 2026E, and 2027E respectively, with a strong buy rating [4]. - The PE ratios for 康耐特光学 are forecasted to be 41.05, 33.26, and 26.64 for the same years, indicating strong growth potential [4]. Upcoming Events - The 2026 International Consumer Electronics Show (CES) is scheduled from January 6 to 9, showcasing over 50 exhibitors in the AI glasses segment, with significant product launches expected from various companies [9].

Core Insights - The core focus of the article is the launch of the loomos AI display glasses S1 by Shanjite Technology, emphasizing its "active AI reminder assistant" feature that interacts with the environment and user intentions to provide information prompts [1] Company Summary - Shanjite Technology officially launched the loomos AI display glasses S1 on December 29, which features a customizable curvature frame and is equipped with a customized optical engine from Guangfeng Technology, the Dragonfly G1MINI [1] - The optical engine has a single-eye volume of approximately 0.2cc, which is about 40% smaller than the previously released Dragonfly G1, with a resolution of 356x200 and a contrast ratio of 1000:1 [1] - The collaboration between Shanjite Technology and Guangfeng Technology took less than three months from technical integration to product launch [1] - Shanjite Technology anticipates that the new product will achieve a shipment volume of over 100,000 units within a year of its release [1] Industry Summary - Market data indicates that the global smart glasses market is expected to see a year-on-year shipment increase of 64.2% in the first half of 2025, reaching 4.065 million units, with the Chinese market accounting for 26.6% of this total [1] - IDC forecasts that smart glasses shipments in China could reach 2.907 million units by 2025, representing a year-on-year growth of 121.1% [1] - By 2029, global shipments of smart glasses are projected to exceed 40 million units, with the Chinese market expected to lead the industry with a compound annual growth rate of 55.6% [1]

Core Viewpoint - The launch of the loomos AI display glasses S1 by Shanjiji Technology represents a significant advancement in lightweight design and adjustable curvature features, utilizing the customized optical engine developed by Guangfeng Technology [1] Group 1: Product Features - The loomos S1 glasses achieve extreme lightweight and adjustable curvature in the front frame [1] - The product is equipped with the Dragonfly G1MINI optical engine, which is specifically developed by Guangfeng Technology [1] - The glasses support asynchronous dual-eye display and true 3D effects on a flexible frame [1]

Market Performance - The consumer electronics sector increased by 1.38% on December 25, with Xunwei Communication leading the gains [1] - The Shanghai Composite Index closed at 3959.62, up 0.47%, while the Shenzhen Component Index closed at 13531.41, up 0.33% [1] Top Gainers in Consumer Electronics - Xunwei Communication (300136) closed at 50.70, up 13.35% with a trading volume of 1.74 million shares [1] - Changying Precision (300115) closed at 40.25, up 8.52% with a trading volume of 1.36 million shares [1] - Hengmingda (002947) closed at 56.28, up 8.27% with a trading volume of 277,400 shares [1] - Yidong Electronics (301123) closed at 79.16, up 6.97% with a trading volume of 348,800 shares [1] - Other notable gainers include Guangda Tongchuang (301387) and Chaoping San (300647) with increases of 6.13% and 5.97% respectively [1] Top Losers in Consumer Electronics - Yitian Co., Ltd. (300812) closed at 29.53, down 2.86% with a trading volume of 115,300 shares [2] - Kecuan Technology (603052) closed at 33.04, down 2.74% with a trading volume of 84,500 shares [2] - Anker Innovation (300866) closed at 115.02, down 2.54% with a trading volume of 39,800 shares [2] - Other notable losers include Transsion Holdings (688036) and Zhishang Technology (301486) with declines of 2.13% and 1.79% respectively [2] Capital Flow Analysis - The consumer electronics sector experienced a net outflow of 843 million yuan from institutional investors, while retail investors saw a net inflow of 1.316 billion yuan [2] - Notable stocks with significant capital flow include Changying Precision and Yidong Electronics, which had varying levels of net inflow and outflow from different investor types [3]

Market Overview - The Shanghai Composite Index closed at 3940.67 points, above the annual line, with a gain of 0.53% [1] - The total trading volume of A-shares reached 15,224.97 million yuan [1] Stocks Breaking Annual Line - A total of 145 A-shares have surpassed the annual line today, with notable stocks including: - Supcon Test (300887) with a deviation rate of 15.30% - New Jingang (300629) with a deviation rate of 10.60% - Yongyue Technology (603879) with a deviation rate of 9.68% [1] Deviation Rate Rankings - The top stocks with significant deviation rates from the annual line include: - Supcon Test: Today's price increased by 19.95% with a turnover rate of 15.61% [1] - New Jingang: Today's price increased by 20.02% with a turnover rate of 23.76% [1] - Yongyue Technology: Today's price increased by 10.09% with a turnover rate of 5.48% [1] Additional Notable Stocks - Other stocks that have recently crossed the annual line include: - Zhenzhen Technology (003007) with a deviation rate of 8.41% and a price increase of 9.99% [1] - Jun Da Co., Ltd. (002865) with a deviation rate of 6.95% and a price increase of 10.01% [1] - Daye Co., Ltd. (603278) with a deviation rate of 6.60% and a price increase of 9.98% [1]

Group 1 - The core focus of the event is the announcement of the "Annual Innovation Award" winners, recognizing companies with significant breakthroughs and innovations in the capital market [1] - The awarded companies include Guangfeng Technology, Corning Jereh Pharmaceutical-B, KEEP, Mindray Medical, Ruihe Zhizhi, AAC Technologies, 37 Interactive Entertainment, Tongwei Co., Xinghuan Technology-U, and Ginkgo Bioworks, with no specific ranking [1] - The "Annual Innovation Award" aims to highlight companies that excel in innovation across various dimensions, including technology research and development, products, and business models [1] Group 2 - The "Golden Award" evaluation is designed to create a reference list of the most valuable listed companies and unicorns in the investment community, covering all listed companies on major exchanges [2] - The evaluation includes companies listed on the Hong Kong Stock Exchange, Shanghai Stock Exchange, Shenzhen Stock Exchange, New York Stock Exchange, American Stock Exchange, and NASDAQ [2]

Core Insights - The "Annual Innovation Award" recognizes companies with breakthrough and innovative capabilities in the capital market, emphasizing the importance of innovation in technology research and development, products, and business models [1][2] - The award selection process involved quantitative data analysis and expert review to determine the final results [1] Group 1: Award Winners - Ten companies were awarded the "Annual Innovation Award," including Guangfeng Technology, Corning Jereh Pharmaceutical-B, KEEP, Mindray Medical, Ruihe Smart, AAC Technologies, 37 Interactive Entertainment, Tongwei Co., Xinghuan Technology-U, and Ginkgo Bioworks [1] - The award aims to highlight companies that are committed to exploring cutting-edge technology and paving new paths for development, thereby leading the industry and promoting social progress [1] Group 2: Evaluation Scope - The "Golden Award" evaluation covers all listed companies and unicorns on major exchanges, including the Hong Kong Stock Exchange, Shanghai Stock Exchange, Shenzhen Stock Exchange, New York Stock Exchange, and NASDAQ [2]

Core Viewpoint - Guangfeng Technology's stock rose by 5.28% to 18.74 CNY per share, with a trading volume of 130 million CNY and a turnover rate of 1.57%, resulting in a total market capitalization of 8.613 billion CNY [1] Company Overview - Guangfeng Technology, established on October 24, 2006, and listed on July 22, 2019, is located in Shenzhen, Guangdong Province. The company specializes in the research, production, sales, and leasing of core components and complete products for laser display [1] - The revenue composition of Guangfeng Technology includes: 48.23% from laser optical engines, 44.37% from laser projection machines, 6.98% from other sources, and 0.42% from supplementary sources [1] Fund Holdings - Huashan Fund has a significant holding in Guangfeng Technology, with the Huashan CSI 1000 Index Enhanced A Fund (015148) holding 10,900 shares, accounting for 0.4% of the fund's net value, making it the eighth largest holding. The estimated floating profit today is approximately 10,300 CNY [2] - The Huashan CSI 1000 Index Enhanced A Fund was established on July 12, 2022, with a latest scale of 45.938 million CNY. Year-to-date returns are 23.13%, ranking 1953 out of 4206 in its category, while the one-year return is 22.42%, ranking 2043 out of 3986 [2]

Core Viewpoint - The successful debut of the QUASAR (Starry Sky) full-color laser spotlight by Guangfeng Technology at the closing ceremony of the 15th National Games highlights its advanced features and potential in the professional lighting market [1] Product Features - The QUASAR spotlight utilizes 300 units to create a core lighting system, achieving a powerful visual effect with high brightness and color purity [1] - It features an 850W full-color laser light source, achieving an illuminance of 60,000 lux at a distance of 100 meters, significantly outperforming industry standards [1] - The visible distance of the QUASAR spotlight reaches 10 kilometers, a breakthrough compared to the typical range of 2 to 5 kilometers for mainstream spotlights [1] Color Performance - The product includes 50 sets of LEE colors and a 16-bit high-precision full-color mixing engine, covering 98% of the BT2020 color gamut and capable of producing 16.77 million colors [1] - This extensive color palette allows for precise execution of celebration theme colors and smooth color transitions [1] Reliability and Durability - The QUASAR spotlight meets IP66 protection standards, making it resistant to heavy rain and dust, and operates in temperatures ranging from -40°C to 40°C [1] - It features a long-lasting laser light source designed for over 5 years of stable operation, reducing maintenance costs [1] Performance and Application - The spotlight's laser source has virtually no delay, allowing for instant effects without warm-up time or lag in color switching [1] - It is suitable for various applications, including large celebrations, urban landmark lighting, cultural tourism night tours, theme parks, and outdoor music festivals [1] Market Strategy - Guangfeng Technology aims to penetrate the global professional lighting market, leveraging the growing demand for high-brightness laser sources in the recovering cultural tourism and large-scale performance sectors [1] - The QUASAR spotlight is set to be officially launched at the ISE International Audiovisual Integration Equipment and Technology Exhibition in early 2026, promoting "Chinese intelligence" in lighting technology on international stages [1]