Group 1 - The core viewpoint is that Asahi Optical (a wholly-owned subsidiary of Konnate Optical) and Goer Optical are forming a joint venture to develop, produce, and sell resin lenses and optical waveguide lenses for AI/AR/VR/MR glasses, with respective shareholdings of 30% and 70% [1] - The strategic alliance is seen as an upgrade from being a "component supplier" to a "solution provider," enhancing the value chain position of Konnate Optical [1] - The collaboration is expected to provide Konnate Optical with a more stable customer entry, stronger comprehensive solution capabilities, and long-term growth certainty, transitioning from a "lens solution provider" to a "smart glasses ecosystem positioner" [1] Group 2 - Konnate Optical is actively positioning itself in the smart glasses sector, with an increasing number of overseas customer collaboration projects and steady progress on existing projects [2] - The company has received positive feedback from end users on delivered products for key domestic projects, indicating a successful transition from product functionality realization to scaling production [1][2] - The expected net profits for Konnate Optical from 2025 to 2027 are projected to be 560 million, 700 million, and 870 million yuan, respectively, with corresponding PE ratios of 47, 38, and 31 [2]
康耐特光学(02276.HK)重大事项点评：子公司朝日光学和歌尔光学拟成立合资公司 XR 业务进展有望加速