点击 关注我们 核心观点 证券研究报告 | 2025年05月19日 报告发布日期：2025年5月19日 报告名称: 《AI眼镜系列专题报告（二）：AI眼镜新品爆发元年，国产SoC主控崭露头角》 分析师：胡剑 S0980521080001/胡慧 S0980521080002/ 叶 子 S0980522100003 / 詹浏洋 S0980524060001 / 张大为 S0980524100002/ 李书颖 S0980522100003 联系人：连欣然 完整报告请扫描下方二维码 证券分析师:胡慧 021-60871321 huhui2@guosen.com.cn S0980521080002 证券分析师:叶子 0755-81982153 yezi3@guosen.com.cn S0980522100003 证券分析师:张大为 021-61761072 zhangdawei 1 @guosen.com.cn S0980524100002 证券分析师:詹浏洋 010-88005307 zhanliuyang@guosen.com.cn S0980524060001 AI眼镜系列专题报告 (二) AI眼镜新品爆发元年, ...

Core Insights - The 2025 World Digital Education Conference held in Wuhan showcased significant advancements in digital education, highlighting innovative technologies and their applications in various educational contexts [1][3]. Group 1: Innovations in Digital Education - An intelligent bionic fish developed by Wuhan University students is capable of autonomous navigation and has been utilized for ecological data collection in the Yangtze River protection project, demonstrating the integration of AI in educational practices [2][3]. - Beijing University of Aeronautics and Astronautics introduced the "Lunar-X" teaching platform, which combines digital twin technology, augmented reality, and intelligent interaction to create a mixed reality learning environment focused on lunar research [3][4]. Group 2: Transformative Educational Technologies - AI-driven tools are transforming traditional classrooms into interactive learning environments, such as virtual characters engaging with students and realistic simulations for underwater robotics training [4]. - The integration of advanced technologies like AI and digital resources is making quality education more accessible, bridging the gap between urban and rural schools through synchronized teaching on a national platform [4][5]. Group 3: Future of Education - The ongoing development of digital education resources is expected to empower future generations, enhancing their learning experiences and expanding their potential [5].

投资咨询业务资格：证监许可【2011】1778 号 宝城期货铁矿石早报（2025 年 5 月 19 日） ◼ 品种观点参考 时间周期说明：短期为一周以内、中期为两周至一月 | 品种 | 短期 | 中期 | 日内 | 观点参考 | 核心逻辑概要 | | --- | --- | --- | --- | --- | --- | | 铁矿 2509 | 震荡 | 震荡 | 震荡 偏弱 | 关注 MA60 一线压力 | 强现实弱预期，矿价延续震荡 | 1.有夜盘的品种以夜盘收盘价为起始价格，无夜盘的品种以昨日收盘价为起始价格，当日日盘收盘价为终点价格， 计算涨跌幅度。 2.跌幅大于 1%为下跌，跌幅 0~1%为震荡偏弱，涨幅 0~1%为震荡偏强，涨幅大于 1%为上涨。 3.震荡偏强/偏弱只针对日内观点，短期和中期不做区分。 ◼ 行情驱动逻辑 铁矿石供需格局迎来变化，矿石需求高位小幅回落，继续给予矿价支撑，但触顶担忧兑现，利好 效应不强。与此同时，港口到货和海外矿商发运维持高位，而内矿生产同样积极，矿石供应压力偏大。 总之，得益于市场情绪回暖，贴水修复逻辑支撑下矿价低位回升，但当前矿石需求趋于触顶，且供应 维持高位，基本 ...

内容概况：近年来，随着居民精神文化消费需求的持续攀升，中国综合性文化中心行业呈现蓬勃发展态 势，市场规模稳步扩张。这一趋势不仅体现在文化演艺、艺术展览、数字创意、教育培训等细分领域的 深度融合，更直接反映在行业投资规模的显著增长——2024年，中国综合性文化中心行业投资规模为 210.16亿元，同比增长6.13%。技术革新成为推动行业升级的核心引擎。VR/AR、AI等前沿技术正深度 赋能产业链各环节：在内容生产端，AI辅助创作工具加速优质IP孵化，数字孪生技术实现文化遗产的精 准复原；在呈现形式上，沉浸式演艺通过全息投影与实时交互打破传统舞台边界，虚拟展览依托三维建 模与云端渲染构建无界文化空间；在用户体验层面，智能导览系统结合大数据分析提供个性化服务，元 宇宙场景应用更开创了"虚实共生"的文旅消费新模式。这些技术融合不仅重塑了文化内容的创新范式， 更催生出数字演艺、云上展厅、AI艺术教育等新型业态，为公众带来跨越时空的文化参与感与沉浸式 体验。 相关上市企业：中国电影（600977）、保利文化（03636）、华策影视（300133）、横店影视 （603103）、浙版传媒（601921）、国新文化（60063 ...

Group 1 - The 2025 World Digital Education Conference is showcasing digital education solutions for all age groups, from children to the elderly, in Wuhan, Hubei [1] - AI large model digital technology is transforming classrooms, allowing students to engage with "virtual figures" like Einstein, enhancing interest in learning [3] - The National Open University has created a smart calligraphy platform where writing is recorded and analyzed by AI, providing feedback on calligraphy skills [5] Group 2 - Advanced technologies such as digital twins, augmented reality, and AI are making previously unreachable scenarios accessible for students [7] - Harbin Engineering University's "Deep Sea Explorer" platform simulates underwater operations, allowing immersive learning experiences in challenging environments [7] - Beijing University of Aeronautics and Astronautics has developed a teaching platform for lunar research, integrating digital textbooks, virtual experiments, and physical experiments for innovative learning [7]

编号：2025-001 投资者关系活动 类别 □特定对象调研 □分析师会议 □媒体采访 √业绩说明会 □新闻发布会 □路演活动 □现场参观 □电话会议 □其他： （请文字说明其他活动内容） 参与单位名称 及人员姓名 参加公司2024年度业绩网上说明会的全体投资者 时间 2025 年 5 月 16 日 15:00-17:00 地点 深圳证券交易所"互动易平台"http://irm.cninfo.com.cn"云访谈" 栏目 公司接待人员 姓名 董事、总裁兼董事会秘书（代行）：朱志坚 董事、副总裁：蒋林 财务负责人：李玲玲 独立董事：凌华 投资者关系活动 主要内容介绍 公司于 2025 年 5 月 16 日 15:00-17:00 采用网络远程的方式举行了 2024 年度业绩说明会，针对投资者关心的问题进行了回复： 1、公司本期盈利水平如何？ 答：您好，2024 年度，公司实现营业收入 184,060.39 万元，较上 年同期增长 6.85%；归属于上市公司股东的净利润-5,805.00 万元，比上 年同期下降 27.06%；公司通过各项措施积极回笼资金、提高资金使用效 率，实现经营活动现金净流入约 20,461 ...

AI 眼镜行业的现状与展望 20250514 摘要 • AI 眼镜通过显示功能和本地化模型算力提供完整信息交付，如实时翻译和 订票信息投射，提升用户体验，是未来发展核心方向。不带显示功能的产 品与现有智能设备无本质区别。 • 掌握 AI 眼镜端操作系统的公司将具有显著价值，类似于智能手机领域的 iOS 和安卓。生态系统的繁荣和用户基础是关键，硬件平台设计需合理， 并考虑功耗、体积和算力等物理限制。 • 全彩显示技术面临 Micro LED 红光发光效率挑战，量产仍有困难。预计两 三年内有渐进式方案，过渡方案性价比不高。现阶段用户需求与彩色关联 不大，文字性成果交付颜色非关键因素。 • 公司已量产 AR 和 Glass 两类 AI 眼镜，提供实时信息显示、语音交互和环 境感知等功能。AR 娱乐套装兼容安卓应用，支持多开和移动剧幕功能，适 合办公、学习和娱乐。 • AI 眼镜 rocking glasses 重约 50 克，具备蓝牙耳机和摄像头功能，融合 大模型应用，如实时翻译、导航和阅读。通过感知能力提供智能体服务， 提高商务人士工作效率。 Q&A 今年 AI 眼镜行业的市场规模预期如何？ 根据目前产业链的信息 ...

VITURE 创始人、CEO 姜公略 "你得先让用户把眼镜戴上去，这是第一步，也是最难的。无人体验，你讲再多生态、软件也无济于 文 丨 张家豪 宋玮 作为一个 AR 眼镜公司的创始人，姜公略认为打造智能眼镜的第一性原理是用户根本不需要眼镜。 VITURE 拿下了 IF Design Award、红点设计奖等一系列设计奖项。其中有一个奖颁给了 VITURE 配 套的颈环，他们把计算单元和控制器从眼镜移到了颈环上，以减少眼镜的重量，而不是像其他厂商一 样去做一个手持的 "遥控器"。 做到美国 AR 眼镜第一的成绩，VITURE 只组建了一个百人出头的团队，姜公略说人在精不在多，如 果招不到合适的人，他们会一直等，而不是先招一个人进来；对于创业公司的研发投入，他说研发如 果打的是散弹，那会有巨大的浪费，要选定正确路线，就像一把狙击枪一发打透。 自 2012 年 Google Glass 发布以来，AR 和 VR 一直承载着 "下一代计算平台" 的期待，但它从未真正 走入过大众视野，多年以来一直都是高价的数码玩具。2024 年，AR+VR 全球市场销量为 1000 万 去年下半年，VITURE 创始人姜公略第一次见到 ...

Group 1: Home Automation and Transportation - Home automation will be deeply integrated into daily life by 2025, with an expected device penetration rate of 60%, allowing control of various home devices via mobile apps [1] - Autonomous vehicles are already in regular operation in some cities, and their coverage is expected to expand by 2025, improving traffic efficiency and reducing accidents caused by human factors [1] - Urban traffic infrastructure will become more intelligent, with traffic signals adjusting automatically based on vehicle flow [1] Group 2: Remote Work and Collaboration - Remote work will become a normalized working model by 2025, with many companies recognizing that employees can work efficiently from any location [2] - The rise of remote work has led to the development of management tools designed for remote collaboration, such as collaborative document editing and project management software [2] - Cross-regional collaboration will increase, facilitated by high-definition video conferencing and virtual reality technologies [2] Group 3: Technology Trends - Artificial intelligence will fully integrate with traditional industries by 2025, optimizing agricultural decisions through sensor data collection [3] - In the industrial sector, the combination of robots and human systems will lead to more efficient production processes [3] - Virtual reality (VR) and augmented reality (AR) technologies will be widely applied in entertainment and education, enhancing user experiences and learning environments [3]

Core Viewpoint - In a rapidly changing technological environment, distribution mall mini-programs must keep up with the latest technology trends to remain competitive in the market [1] Group 1: Key Technology Trends - Artificial Intelligence (AI) and Machine Learning: Utilizing AI and machine learning algorithms to analyze user behavior data for personalized product recommendations and services, enhancing user satisfaction and conversion rates [3] - Smart Customer Service: Implementing chatbots or virtual assistants to provide 24/7 customer service support, addressing common issues and improving user experience [4] Group 2: Big Data Analytics - Precise Marketing: Analyzing vast amounts of user data to understand consumer preferences and purchasing habits, leading to more effective marketing strategies [5] - Inventory Management: Using data analytics to optimize inventory levels, reducing excess stock and avoiding out-of-stock situations [5] Group 3: Augmented Reality (AR) and Virtual Reality (VR) - Virtual Try-On: Industries like clothing and cosmetics can leverage AR technology to allow users to "try on" products online, increasing interactivity and purchase desire [6] - Virtual Store Tours: Creating virtual stores enables customers to browse products from home, simulating the experience of being in a physical store [7] Group 4: Internet of Things (IoT) - Smart Supply Chain: Utilizing IoT devices to monitor logistics status and update inventory information in real-time, ensuring timely delivery of goods [8] - Smart Home Integration: Connecting products with smart home devices to provide users with a more convenient service experience [8] Group 5: Blockchain Technology - Transparency and Trust: Employing blockchain technology to enhance transaction security and transparency, ensuring the authenticity of product sources [9] - Loyalty Programs: Implementing secure and transparent point redemption systems through blockchain technology to strengthen user trust in the brand [10] Group 6: 5G Network - Faster Loading Speeds: The high speed and low latency of 5G networks can significantly reduce loading times for distribution mall mini-programs, enhancing user experience [11] - High-Definition Video Streaming: Supporting higher quality product display videos and live sales events to attract more consumer participation [11] Group 7: Cloud Services and Edge Computing - Elastic Scalability: Adopting cloud computing allows for flexible resource adjustments to handle traffic peaks, ensuring stable system operation [13] - Edge Computing: Reducing latency to make application response times faster, especially important when processing large amounts of local data [13] Group 8: Implementation Recommendations - Continuous Monitoring of Industry Trends: Regularly assessing the development of new technologies and considering their potential impact on the business [14] - Investment in Technological Innovation: Selecting appropriate technologies for investment based on specific business needs, such as upgrading existing IT infrastructure [15] - Team Member Training: Ensuring that team members possess sufficient knowledge and skills to implement new technological solutions [16] - Testing and Iteration: Conducting small-scale tests for newly adopted technologies, collecting feedback, and making necessary adjustments before full-scale rollout [17] Conclusion - Mastering the latest technology trends can help businesses improve efficiency and provide better shopping experiences, thereby gaining a competitive edge in the market. Distribution mall mini-programs serve as a bridge between businesses and consumers, offering limitless possibilities as they continue to evolve [18]