LUXSHARE-ICT(SZ:002475) Shanghai Securities·2025-10-20 12:11Investment Rating - The report maintains an "Overweight" rating for the industry [1] Core Viewpoints - The global edge AI market is expected to continue growing, with AI glasses being one of the best hardware carriers for edge AI, indicating a promising industrial trend [1][12] - Luxshare Precision's "Cloud Sparrow 2nd Generation" AR glasses are leading a new era of AR glasses industrialization, showcasing significant technological advancements at the 26th China International Optoelectronic Expo [1][12] - The report identifies three growth logics for AI smart glasses: imminent industry explosion, accelerated layout by leading companies, and the transformative potential of AI glasses in consumer electronics [2][16] Summary by Sections Industry Overview - The report highlights that global AI glasses sales are projected to reach 1.52 million units in 2024, 3.5 million in 2025, 60 million by 2029, and potentially 1.4 billion by 2035, indicating substantial room for penetration compared to traditional glasses [2][16] Company Developments - Luxshare Precision is actively positioning itself in the smart glasses sector, providing assembly services for various brands and evolving into a more comprehensive ODM service provider [1][12] - The report notes that leading companies like Meta and Apple are accelerating their entry into the market, with Meta launching the Meta Celeste AR glasses and Apple expected to release Apple Glass in 2026 [2][16] Investment Recommendations - The report suggests focusing on companies such as Luxshare Precision, Lens Technology, Linyang Technology, GoerTek, and others as potential investment opportunities in the AI consumer electronics sector [4][16]