消费电子：眼镜终端价至千元档，核心零部件国产超9成

Investment Rating - The industry investment rating is "In line with the market" [15] Core Viewpoints - The launch of the first AI glasses by Shanjing Technology, priced at 999 yuan, significantly undercuts competitors like Ray-Ban Meta, which starts at 299 USD [15] - The AI glasses feature a 16 million pixel camera, low power consumption ARM processor from Ziguang Zhanrui, and high-fidelity audio technology, indicating a strong focus on performance and user experience [15][6] - The core components of the AI glasses are over 90% domestically sourced, showcasing a high level of localization in the supply chain [15] Summary by Sections Product Features - The AI glasses support 16 million full-resolution photos and low-power video stabilization, enhancing daily photography needs [15] - The device includes a 450mAh battery with a unique Pogo-Pin magnetic charging interface, allowing for convenient usage [15] - An innovative AI memory system, Loomo OS, enables efficient recording and synchronization of multimodal data [15] Market Potential - The demand for smart wearable devices is increasing, driven by the rise of generative AI models, which is expected to expand the market for AI audio glasses [15] - The report suggests focusing on companies involved in the supply chain or possessing relevant technological reserves, including optical, storage, and camera component manufacturers [15] Competitive Landscape - The AI glasses are positioned as a next-generation mobile terminal, potentially replacing smartphones in certain use cases [15] - The report highlights the importance of collaboration with various domestic AI model providers to enhance the functionality and responsiveness of the product [15]