北交所消费服务产业跟踪第五期：AI眼镜为2025年AI+应用重点关注方向，雷神科技推出三款创新智能眼镜产品

AI Glasses Industry - AI glasses are a key focus at the 2025 CES, with numerous Chinese brands showcasing innovative products such as Ray-Ban Meta, Rokid, and LeiNiao Innovation [8][9] - Meta's Ray-Ban Meta smart glasses, launched in September 2023, have gained significant traction, with sales surpassing 1 million units by May 2024 [19] - LeiNiao Innovation's LeiNiao V3 AI shooting glasses, featuring advanced AI and AR technologies, were officially released at CES 2025 [20][22] - The AI glasses market is still in the exploration phase, with major players like Huawei, Baidu, and OPPO actively developing AI-integrated smart glasses [38][40] - The global AI smart glasses market is expected to grow significantly, with AI+AR technology reaching maturity by 2030, leading to rapid industry expansion [40][41] AI Glasses Technology and Development - AI smart glasses integrate traditional eyewear functions with advanced features like AI voice assistants, real-time translation, and AR displays [23][24] - The development of AI smart glasses has gone through four stages: initial exploration, market testing, technology maturity, and AI integration [24][26] - AI smart glasses are categorized into three types: no-camera, camera-equipped, and display-equipped, each with varying levels of functionality and cost [31][33][34] - The upstream supply chain for AI glasses includes hardware components like optical modules, display modules, and AI algorithms, while the downstream involves sales and after-sales services [35][37] Company Highlights: LeiShen Technology - LeiShen Technology, a high-performance computer hardware manufacturer, launched three innovative AI glasses at CES 2025, including the AURA AR Light Edition, which supports 0-600 degree myopia adjustment and connects to mainstream gaming consoles [44][46] - LeiShen Technology reported revenues of 2.007 billion yuan in the first three quarters of 2024, a 3.66% year-on-year increase, with a gross profit margin of 9.15% [48][49] - The company has a strong presence in the gaming and creative design markets, with products widely used in eSports, video creation, and digital office applications [47][48] Market Performance: Beijing Stock Exchange - The consumer services sector on the Beijing Stock Exchange saw a median stock price decline of -1.67% during the week of January 6-10, 2025, with 13 out of 35 companies experiencing price increases [54][55] - The median price-to-earnings (PE) ratio for the consumer services sector decreased from 32.2X to 31.9X, while the total market capitalization increased slightly from 71.943 billion yuan to 72.184 billion yuan [55][56] - Notable performers included Hongzhi Technology (+13.32%), Taihu Snow (+7.92%), and Jinbo Biotech (+5.49%) [54][60] Industry Valuation Trends - The consumer sector's median PE TTM increased from 35.9X to 36.0X, with Hongzhi Technology and Taihu Snow leading in market value growth [61][62] - The food and beverage and agriculture sector's median PE TTM rose from 28.5X to 28.8X, with Kangnong Seed and Lusi Co. showing positive performance [63][64] - The professional technical services sector's median PE TTM decreased from 20.3X to 19.6X, with Zhongshe Consulting and Qingju Technology leading in market value growth [65][66] Corporate Announcements - Taihu Snow announced a 2024 Q3 profit distribution plan, proposing a cash dividend of 2.50 yuan per 10 shares, totaling 13.29 million yuan [68][69] - Zhongcao Spice's subsidiary, Anhui Zhongcao New Materials, completed the trial production phase of its first-phase project in October 2024, which is expected to contribute significantly to future performance growth [68][69]