中国银河证券发布研报表示，智能眼镜赛道高景气，Meta眼镜供不应求，看好产业链相关标的。此 外，看好苹果产业链出货量超预期投资机会。推荐水晶光电、捷邦科技、天岳先进，关注立讯精密、歌 尔股份、领益智造、蓝思科技、宜安科技。 ...

来源：环球网 【环球网科技综合报道】10月13日消息，据彭博社记者马克·古尔曼在《Power On》通讯中透露，苹果 第二代带镜内显示屏的智能眼镜或将具备两种独特模式，能根据所连接设备灵活切换。 古尔曼指出，未来版本的苹果智能眼镜在与Mac配对时，将能够运行完整版的visionOS操作系统。这意 味着用户在使用智能眼镜连接Mac时，可以享受到如同在电脑上般丰富、强大的功能体验。而当智能眼 镜与iPhone配对时，则会切换到更轻量、更适合移动设备的界面，方便用户在移动场景下快速、便捷地 操作，满足日常出行、社交等多样化需求。 彭博社报道称，苹果智能眼镜的这一设计，无疑将使其在市场竞争中占据有利地位。目前，Meta雷朋 眼镜已有带镜内显示屏款（美国起售价799美元），成为了苹果智能眼镜的有力竞争对手。不过，古尔 曼此前透露，苹果第一代智能眼镜不会配备镜内显示屏。尽管如此，第一代智能眼镜也具备诸多亮点功 能。它配备了用于播放音乐的扬声器，让用户随时随地享受高品质音乐；拥有用于拍照和录像的摄像 头，方便用户记录生活中的精彩瞬间；支持语音控制功能，操作更加便捷；还可能具备健康相关功能， 为用户的健康管理提供助力。 关于 ...

北大青鸟环宇(08095)再涨超10%，截至发稿，涨9.35%，报1.52港元，成交额1886.49万港元。 甬兴证券发布研报称，上海显耀显示科技有限公司(JBD)重磅推出"蜂鸟Ⅱ"彩色光引擎，以0.2立方厘米 的极致体积和性能突破。"蜂鸟Ⅱ"的核心创新在于其采用的0.1英寸MicroLED微显示屏，以及X-Cube架 构，最终实现体积和重量相比上一代缩小50%，体积为0.2立方厘米，重量为0.5克。随着智能眼镜新技 术不断创新，轻量的彩色显示有望推动行业不断发展，看好相关产业投资机会。 值得注意的是，根据JBD显耀显示公众号，9月22日，JBD宣布，联合应用材料公司(AMAT)与雷鸟创新 共同在全彩光波导AR眼镜显示画质方面取得实质性突破，相关成果率先落地于雷鸟X3Pro中，全面提升 了消费级光波导AR眼镜的视觉表现力。公开资料显示，北大青鸟环宇为JBD的早期投资方之一，并参 与了其多轮融资。 ...

甬兴证券发布研报称，上海显耀显示科技有限公司(JBD)重磅推出"蜂鸟Ⅱ"彩色光引擎，以0.2立方厘米 的极致体积和性能突破。"蜂鸟Ⅱ"的核心创新在于其采用的0.1英寸MicroLED微显示屏，以及X-Cube架 构，最终实现体积和重量相比上一代缩小50%，体积为0.2立方厘米，重量为0.5克。随着智能眼镜新技 术不断创新，轻量的彩色显示有望推动行业不断发展，看好相关产业投资机会。 智通财经APP获悉，北大青鸟环宇(08095)再涨超10%，截至发稿，涨9.35%，报1.52港元，成交额 1886.49万港元。 值得注意的是，根据JBD显耀显示公众号，9月22日，JBD宣布，联合应用材料公司(AMAT)与雷鸟创新 共同在全彩光波导AR眼镜显示画质方面取得实质性突破，相关成果率先落地于雷鸟X3Pro中，全面提升 了消费级光波导AR眼镜的视觉表现力。公开资料显示，北大青鸟环宇为JBD的早期投资方之一，并参 与了其多轮融资。 ...

Investment Rating - The industry rating is "Outperform the Market" [5][12] Core Insights - Meta's Ray-Ban Display smart glasses have seen strong market response, with retail stores nearly sold out and trial appointments fully booked before November [1] - Apple is shifting focus from developing a low-cost Vision Pro headset to prioritizing AI glasses to compete with Meta, with plans to preview the product in 2025 and launch in 2027 [2] - The smart glasses market is expected to grow significantly, with global sales projected to reach 14.5 million units by 2025 and a compound annual growth rate (CAGR) exceeding 50% from 2025 to 2029, potentially reaching 60 million units by 2029 [3] Summary by Sections - **Meta's Smart Glasses**: The Meta Ray-Ban Display smart glasses are experiencing high demand, with plans for increased supply and sales points [1] - **Apple's Strategic Shift**: Apple is reallocating resources to focus on AI glasses, indicating a significant change in product development strategy [2] - **Market Growth Projections**: The smart glasses market is anticipated to grow rapidly, with significant sales increases expected in the coming years [3] - **Investment Opportunities**: Recommendations include focusing on companies involved in foldable screen hinges, panel equipment, liquid cooling pumps, automation assembly, and 3D printing applications [3]

Core Insights - The Meta Ray-Ban Display smart glasses are experiencing significant market demand, with retail stores nearly sold out and appointments for trials fully booked before November, prompting the company to double the number of sales points [1] - Longying Precision, a key supplier, is expected to benefit from the surge in demand for Meta's AI glasses, as their core capabilities align well with the hardware requirements of the product [2] Company Performance - Longying Precision has provided structural components for Meta's AI glasses and is developing related products for other leading brands, indicating a strong position in the supply chain [2] - The company has a proven track record in precision structural components for major brands like Apple and Samsung, which enhances its credibility and potential for increased order volume from Meta [2] Market Trends - According to IDC data, the shipment volume of smart glasses is projected to increase by 247.5% by 2025, with the market expected to reach 43.1 million units by 2029, reflecting a compound annual growth rate of 31.8% [3] - Meta holds a dominant market share of 60.6% in the smart glasses sector, positioning Longying Precision to directly benefit from the market growth [3] Technological Advancements - Collaboration with Meta allows Longying Precision to engage in technology upgrades, positioning the company to capture opportunities in next-generation AI hardware [4] - The demand for more intelligent, integrated hardware solutions is increasing, necessitating advancements in voice sensing components, lightweight display structures, and low-power hardware designs [4] Competitive Landscape - Major players like Apple and Amazon are entering the smart glasses market, which is expected to foster a competitive environment and drive growth [5] - Longying Precision's experience and capabilities gained from working with Meta may provide a competitive edge in securing contracts with other industry giants [5] - The current success of Meta's smart glasses is expected to lead to a clear increase in orders for Longying Precision, while the overall growth in the smart glasses market will provide sustained momentum for the company [5]

Core Insights - Apple is shifting its strategy towards wearable devices, focusing on the development of smart glasses, with plans to release the first model, "Apple Glass," by the end of 2026 [1][2] - The smart glasses will compete directly with Meta's Ray-Ban smart glasses, which have already gained traction in the market since their launch in 2023 [2] Product Development - Apple is developing a dedicated low-power chip for the smart glasses, optimized based on the Apple Watch technology architecture, to support independent AI tasks [2] - The second-generation product is expected to launch after 2028, featuring a single-sided AR display and capabilities for spatial video recording and holographic information overlay [2] Market Context - Meta's Ray-Ban smart glasses have quickly captured the fashion-tech market with features like a 12MP camera, five-microphone array, directional audio, and real-time translation since their introduction [2] - The second-generation Ray-Ban glasses have improved battery life to six hours and introduced a sports version, starting at a price of $299 [2] Strategic Shift - This strategic adjustment is seen as a key decision during CEO Tim Cook's tenure, especially after the Vision Pro headset faced challenges due to its high price and bulky design [2] - Cook has emphasized in high-level meetings that smart glasses are central to Apple's ecosystem for the next decade [2]

中科蓝讯所属申万行业为：电子-半导体-数字芯片设计。所属概念板块包括：智能音箱、智能眼镜、智 能穿戴、无线耳机、集成电路等。 截至6月30日，中科蓝讯股东户数1.31万，较上期减少12.56%；人均流通股3381股，较上期增加 15.12%。2025年1月-6月，中科蓝讯实现营业收入8.12亿元，同比增长2.63%；归母净利润1.31亿元，同 比减少2.61%。 分红方面，中科蓝讯A股上市后累计派现3.40亿元。 9月30日，中科蓝讯盘中下跌2.00%，截至09:52，报151.09元/股，成交3.75亿元，换手率5.54%，总市值 182.21亿元。 资金流向方面，主力资金净流出4360.67万元，特大单买入2838.68万元，占比7.57%，卖出5024.86万 元，占比13.41%；大单买入1.08亿元，占比28.83%，卖出1.30亿元，占比34.63%。 中科蓝讯今年以来股价涨16.67%，近5个交易日涨0.06%，近20日涨34.11%，近60日涨49.42%。 今年以来中科蓝讯已经2次登上龙虎榜，最近一次登上龙虎榜为9月23日，当日龙虎榜净买入-3813.97万 元；买入总计2.16亿元 ，占总 ...

Core Viewpoint - Hongli Zhihui's stock price has shown fluctuations, with a recent increase of 2.03% and a total market capitalization of 5.338 billion yuan, indicating investor interest despite recent declines in the short term [1]. Financial Performance - For the first half of 2025, Hongli Zhihui reported revenue of 2.024 billion yuan, reflecting a year-on-year growth of 6.45%. However, the net profit attributable to shareholders decreased significantly by 80.44% to 15.5673 million yuan [2]. - Cumulative cash dividends since the company's A-share listing amount to 404 million yuan, with 81.4135 million yuan distributed over the past three years [3]. Shareholder Information - As of June 30, 2025, the number of shareholders increased to 27,700, with an average of 25,488 circulating shares per person, a slight decrease of 0.63% [2]. - Hong Kong Central Clearing Limited is the fifth-largest circulating shareholder, holding 7.997 million shares, an increase of 1.0921 million shares compared to the previous period [3]. Business Overview - Hongli Zhihui, established on May 31, 2004, and listed on May 18, 2011, specializes in the research, production, and sales of LED devices and their applications, as well as internet marketing and automotive internet services. The revenue composition includes 74.36% from LED packaging, 21.72% from automotive lighting products, and 3.92% from other sources [1]. - The company operates within the electronic industry, specifically in the optical optoelectronics and LED sectors, and is involved in various concept sectors such as LED, plant lighting, smart glasses, MLED, and automotive electronics [1].

Company Overview - Zhongke Lanyun Technology Co., Ltd. is located in Nanshan District, Shenzhen, Guangdong Province, and was established on December 19, 2016. The company went public on July 15, 2022. Its main business involves the research, design, and sales of wireless audio chips, with chip sales accounting for 99.83% of its revenue [1][2]. Stock Performance - As of September 26, Zhongke Lanyun's stock price decreased by 2.01% to 141.12 CNY per share, with a total market capitalization of 17.019 billion CNY. The stock has increased by 8.97% year-to-date, with a 21.11% rise over the last five trading days, 15.69% over the last 20 days, and 40.98% over the last 60 days [1]. - The company has appeared on the "Dragon and Tiger List" twice this year, with the most recent appearance on September 23, where it recorded a net buy of -38.1397 million CNY [1]. Financial Performance - For the first half of 2025, Zhongke Lanyun reported a revenue of 812 million CNY, representing a year-on-year growth of 2.63%. However, the net profit attributable to shareholders decreased by 2.61% to 131 million CNY [2]. Shareholder Information - As of June 30, 2025, the number of shareholders decreased by 12.56% to 13,100, with an average of 3,381 circulating shares per shareholder, an increase of 15.12% [2][4]. - The top circulating shareholders include Xin'ao New Energy Industry Stock A, holding 1.4745 million shares, and Jiashi Shanghai Stock Exchange Science and Technology Innovation Board Chip ETF, holding 1.1423 million shares, both showing increases in holdings [4]. Dividend Information - Since its A-share listing, Zhongke Lanyun has distributed a total of 340 million CNY in dividends [3].