博士眼镜：MYVU AR眼镜进驻博士免税店，智能眼镜版图再布新棋

Investment Rating - The report maintains a "Buy" rating for the company [3][17]. Core Views - The company is strategically expanding its presence in the AR glasses market through partnerships and collaborations with various players, enhancing its channel advantages and service offerings [2][14]. - The company is expected to see a steady increase in revenue and net profit over the next few years, with projected net profits of 140 million, 170 million, and 196 million yuan for 2024, 2025, and 2026 respectively [3][4]. - The AR device market is experiencing significant growth, with global shipments expected to reach 5 million units by 2027, positioning the company to benefit from this trend [15]. Financial Summary - Revenue is projected to grow from 1,176 million yuan in 2023 to 1,771 million yuan in 2026, reflecting a compound annual growth rate (CAGR) of approximately 15.4% [4]. - The company's net profit is expected to increase from 128 million yuan in 2023 to 195 million yuan in 2026, with a notable growth rate of 68.9% in 2023 [4]. - The earnings per share (EPS) is forecasted to rise from 0.73 yuan in 2023 to 1.12 yuan in 2026, indicating a positive trend in profitability [4].