电子：AI眼镜新品集中亮相CES 2025，赛道未来可期

Investment Rating - The report maintains an investment rating of "Outperform the Market" for the electronics industry [2][8]. Core Insights - The CES 2025 showcased a significant number of new AI glasses, marking a new focus for the event, with 312 companies under the "AR/VR/XR" label and 45 exhibiting terminal products [6]. - The AI glasses market is experiencing a surge, with major companies like Ray-Ban and Meta leading the charge, and new products being introduced by various brands [6][7]. - The report anticipates rapid growth in the AI glasses industry, driven by advancements in optical display modules and AR/VR chips, as well as decreasing prices and improved comfort for consumers [8]. Summary by Sections Industry Performance - The electronics sector has shown a performance of -7.00% over the last month, 9.09% over the last three months, and 26.37% over the last year, compared to the CSI 300 index which has performed at -7.60%, -4.24%, and 13.35% respectively [3]. Key Stocks - Crystal Optoelectronics is highlighted with an EPS of 0.43 in 2023, projected to increase to 0.72 in 2024 and 0.87 in 2025, with corresponding PE ratios decreasing from 45.18 to 22.50 [5]. Market Trends - The report notes that the AI glasses market is set to expand due to performance upgrades, price reductions, and a trend towards lighter designs, making them more appealing to consumers [6][7].