Group 1 - The core viewpoint of the news is that the company is accelerating the commercialization of AR technology through the acquisition of Finnish waveguide company Dispelix, enhancing its capabilities in AI and perception technology [1][2] - The acquisition of Dispelix is expected to be completed in the first half of 2026, making it a wholly-owned subsidiary, and aims to deepen the synergy between the two companies, leveraging Dispelix's expertise in waveguide design and manufacturing [2] - The collaboration with leading OEM clients to develop the next generation of AR devices and the partnership with major mobile ecosystem builders will strengthen the company's position in the global market for diffraction optics [2] Group 2 - The company is empowering the "Doubao AI phone" with core hardware, facilitating the evolution from a "tool" to an "intelligent agent," showcasing advancements in AI interaction [3] - The collaboration with ZTE to launch the Doubao AI phone prototype demonstrates the integration of high-performance linear motors and dual speaker systems to enhance user experience [3] - The company is also focusing on multi-sensory solutions for next-generation AI phones and wearable devices, continuing to innovate in the "AI + perception" space [3] Group 3 - The Quark AI glasses S1, launched by Alibaba, features a high-precision pickup system co-created with the company, addressing industry pain points in voice interaction [4] - The innovative microphone array and bone conduction technology provide significant advantages in size reduction and power consumption, enhancing the user experience in various environments [4] - The advanced algorithms implemented in the Quark AI glasses ensure low false wake rates, allowing for seamless interaction in noisy settings [4] Group 4 - The company is projected to achieve revenues of 32.2 billion, 36 billion, and 40 billion yuan for the years 2025, 2026, and 2027, respectively, with net profits of 2.5 billion, 3 billion, and 3.3 billion yuan [5]
中邮证券：维持瑞声科技(02018)“买入“评级 推动AI交互向软硬一体演进