Core Viewpoint - The company is currently operating at full capacity for its aspheric glass lens production, which is utilized in various applications such as sports cameras, automotive ADAS lenses, and AI glasses. The company is focusing on the AI glasses, autonomous driving, and new consumer markets as new growth drivers, with plans to expand capacity based on industry development and market demand [1]. Group 1 - The company's aspheric glass lens production is at full capacity [1] - Applications for the glass lenses include sports cameras, automotive ADAS lenses, and AI glasses [1] - The company is targeting AI glasses, autonomous driving, and new consumer markets as potential growth areas [1] Group 2 - The molded glass business is expected to become a new growth engine for the company [1] - The company plans to adjust its capacity expansion according to industry trends and market needs [1]

Core Insights - The AI glasses industry is transitioning from concept exploration to mass production, focusing on the feasibility of technology and commercial viability [1][7] - Companies like Rokid, Quark, and Ideal Auto are competing in the market, while DPVR has launched its first mass-produced AI glasses with domestic chips, receiving positive market feedback [1][2] Industry Trends - The AI glasses market is moving towards maturity, with various companies adopting different paths, and DPVR's approach validates a cost-effective, mass-producible solution using domestic chips [7] - The demand from younger consumers is shifting towards products that are not only functional but also stylish and practical for everyday use [7] Product Development - DPVR's AI glasses are designed with a focus on outdoor use and appeal to young consumers, achieving a balance between cost, durability, and fashion [2][4] - The product features a unique design that enhances user experience, including ergonomic adjustments and weather-resistant materials, making it suitable for outdoor activities [4][5] Technical Specifications - DPVR utilizes the Unisoc W517 chip, which offers a differentiated approach compared to competitors using Qualcomm Snapdragon AR1, focusing on supply chain stability and controlled adaptation cycles [3] - The glasses are equipped with a 12MP Sony IMX681 sensor and AI capabilities for voice recognition and translation, ensuring performance in noisy environments [5][6] Market Positioning - DPVR's pricing strategy positions its AI glasses between 1349 and 1500 yuan, making them accessible to a broader consumer base while maintaining a clear differentiation from mid-to-high-end competitors [5] - The product emphasizes a "light" design and user-friendly interface, reducing barriers for first-time users and enhancing overall appeal [5][6]

Core Insights - XREAL has launched the XREAL1S, the latest addition to its XREAL One series, targeting a broader young consumer demographic with features like a 500-inch portable screen and real-time 2D to 3D conversion [1][2] - The AR glasses market is becoming increasingly competitive, with major companies like Baidu, Quark, Rokid, and Li Auto releasing new AI glasses, indicating a crowded landscape [1] - XREAL's strategy focuses on two main directions: Spatial Display and Spatial Computing, aiming to enhance existing computing devices and lay the groundwork for future AR experiences [1] Product Details - The XREAL1S is priced at 3299 yuan and will be available for pre-order on JD.com and Tmall starting December 18, with official sales commencing on December 22 [3] - The X1 chip, developed by XREAL, enables the world's first system-level real-time 2D to 3D capability, allowing content to transition from flat screens to spatial experiences without increasing user barriers [2] Market Position - XREAL has established a global business presence across China, the US, Japan, and Europe since its founding in 2017, and has maintained the largest market share in the global consumer AR market since 2022 according to IDC data [3] - The market is viewed as entering a phase of explosive growth for both AR and AI glasses, with the potential for these products to become the next generation of smart devices, similar to headphones and smartwatches [3]

格隆汇12月19日｜国盛证券研报指出，豪威集团非手机业务正在起势，龙头成长动能已然切换。近期受 存储涨价影响，消费电子产业链普遍回调较多，聚焦豪威公司本身，认为市场过于悲观，究其原因还是 在于市场对豪威的认知仍然将其定位为一家纯正的手机CIS芯片供应商，然而回归本质，看到从今年开 始，豪威的业务结构正在悄然发生变化。汽车CIS25年收入有望超越手机，中高端市场地位稳固；此 外，公司也在同步加大车用模拟芯片的布局，大力推进CAN/LIN、SerDes、PMIC、SBC等多产品的验 证导入，认为该业务有望与汽车CIS形成良好的协同效应，借助汽车CIS强大的产品力加速导入放量。 认为公司汽车业务和影像业务俨然已经成为新的成长动能，手机业务虽然短期有所承压，但产品矩阵的 扩张仍有机会帮助公司提升份额；此外公司在LCoS领域的前瞻布局，未来也有望在AI眼镜、数据中心 OCS中攫取新的收益，这将进一步打开估值天花板。持续看好公司未来发展，因此我们维持营收及利润 预测，公司作为国产CIS龙头显著偏低，维持"买入"评级。 ...

2、2024年4月11日互动易：南京起跑线穿戴电子科技有限公司的卫星导航S10芯片特点主要是超低功 耗，主要应用于智能穿戴领域。 2024年半年度报告：本集团以现金参股方式投资了南京起跑线穿戴电 子科技有限公司，出资额为人民币 10,000,000.00 元，持股比例为 4%。 3、公司办公地址处于福建省厦门市同安区后詹路1号16层 12月18日，星宸科技涨1.46%，成交额5.08亿元，换手率4.63%，总市值248.60亿元。 异动分析 AI眼镜+智能穿戴+福建自贸区+芯片概念+人工智能 1、2025年9月17日互动易：公司已有适用于AI眼镜的芯片，已出货至终端客户，也在与手机品牌、初 创潮牌、ODM、方案商等多类客户持续接洽与合作中。 4、星宸科技股份有限公司的主营业务是端边侧AISoC芯片的设计、研发及销售。公司的主要产品是智 能安防、智能物联、智能车载、其他IC、技术服务、其他。 5、2024年3月15日互动易：公司通过新一代AI处理器IP研发项目的建设，公司将大幅提升新一代AI处理 器IP的处理能力，对当前AI处理器进行全方位升级，优化更多算法算子效率，进一步减小内存带宽使 用，并高效支持公司最新 ...

来源：新浪证券-红岸工作室 异动分析 AI眼镜+智能穿戴+福建自贸区+芯片概念+人工智能 1、2025年9月17日互动易：公司已有适用于AI眼镜的芯片，已出货至终端客户，也在与手机品牌、初 创潮牌、ODM、方案商等多类客户持续接洽与合作中。 2、2024年4月11日互动易：南京起跑线穿戴电子科技有限公司的卫星导航S10芯片特点主要是超低功 耗，主要应用于智能穿戴领域。 2024年半年度报告：本集团以现金参股方式投资了南京起跑线穿戴电 子科技有限公司，出资额为人民币 10,000,000.00 元，持股比例为 4%。 3、公司办公地址处于福建省厦门市同安区后詹路1号16层 4、星宸科技股份有限公司的主营业务是端边侧AISoC芯片的设计、研发及销售。公司的主要产品是智 能安防、智能物联、智能车载、其他IC、技术服务、其他。 5、2024年3月15日互动易：公司通过新一代AI处理器IP研发项目的建设，公司将大幅提升新一代AI处理 器IP的处理能力，对当前AI处理器进行全方位升级，优化更多算法算子效率，进一步减小内存带宽使 用，并高效支持公司最新AIISP算法，迅速精确兼容适配客户在不同定制场景下的算法选择，大幅提升 ...

AI眼镜的玩家快要把行业"挤爆了"。 在过去的11月里，就有小度、夸克、Rokid等多家公司发布了AI眼镜新品。整个行业在大厂的扎堆涌入下，打得难舍难分。2026年，追觅也将 加入战场。 就连造车的理想，也按捺不住进来分一杯羹。 12月3日，理想AI眼镜Livis正式发布，起售价为1999元，当晚就被抢购一空。不少消费者抱怨称，"标准版以上的版本，根本抢不到货"。 理想Livis是一款整合了理想自家MindGPT大模型和用于自家车控的智能音频类眼镜。比起一个"替代"手机的智能终端，理想对AI眼镜的看法更像是智能 汽车的周边产品。以买一个驾驶场景的墨镜看待理想Livis，价格还算合理，毕竟线下配一个蔡司镜片的墨镜也要上千。 理想AI眼镜的出现，意味着，AI眼镜行业出现了一个定位更明确的玩家。 回顾2025这一年的AI眼镜新品，不难发现寻找定位是各大AI眼镜厂商推出新品的一大主题。 在AI、续航、硬件参数、软件落地、显示等AI眼镜的基础能力下，我们看到了夸克想要聚焦拍摄、雷鸟主打显示效果、Rokid擅长软件迭代的特征。厂商 的能力和偏好，为AI眼镜行业注入了更多差异化。但也为消费者选购AI眼镜，带来了一定的困难。 ...

（编辑 丛可心） 证券日报网讯 12月15日，福光股份在互动平台回答投资者提问时表示，公司的机器视觉镜头广泛应用 于生产加工、装备检测、流水化作业等智能识别感应监测设备，未应用于AI眼镜。公司微型投影光机 产品可应用于AR领域，产品的具体使用场景由客户根据自身需求确定。 ...

Core Insights - AI glasses are transitioning from niche products to mainstream consumer items, with multiple domestic manufacturers launching new models this year and Google entering the market recently [1][11] - There is a significant supply chain bottleneck affecting popular models, with long wait times for new orders, indicating high demand [1][3][4] - The market for AI glasses is still in the early stages of consumer education, leading to high foot traffic in stores but low conversion rates for purchases [1][5][8] Company Summaries - Quark AI glasses launched two series, S1 and G1, with prices starting at 3,799 yuan and 1,899 yuan respectively, but are facing supply shortages with delivery times extending to 45 days [2][3] - Rokid has also experienced production challenges, with a goal to sell over 1 million units next year, supported by a recent increase in active users [3][4] - Both Quark and Rokid are working to enhance production capacity, with Quark adding a new assembly line and Rokid collaborating with Lens Technology to overcome production bottlenecks [4][12] Market Dynamics - The primary buyers of AI glasses are enterprise users, with applications in professional settings such as presentations and translation, while general consumers show interest mainly out of curiosity [6][8] - Despite similar functionalities, Quark and Rokid glasses have different pricing strategies and customization options for prescription lenses, affecting consumer choices [9][10] - Google’s entry into the AI glasses market, along with partnerships with major tech companies, highlights the growing potential of the industry and the diverse approaches being taken by different brands [11][13] Technical Challenges - The AI glasses industry faces significant technical hurdles, particularly in balancing battery life and performance, as well as the need for more compelling applications to drive consumer adoption [14]

Core Insights - The AI glasses market is transitioning from niche products to mainstream consumer adoption, with multiple domestic manufacturers launching new models this year and Google entering the market recently [1][12]. Production Capacity Challenges - Quark AI glasses and Rokid are facing production bottlenecks, with Quark's new orders requiring a wait of at least 15 days, and Rokid's supply chain operating in three shifts to meet demand [1][3]. - Quark has added a new production line to increase capacity, aiming to fully release production by January to capitalize on the upcoming consumer demand during the Spring Festival [4][12]. - Rokid's active user base has surpassed 100,000, with a sales target of over 1 million units for next year, supported by improvements in production capacity for optical waveguide lenses [3][4]. Market Dynamics and Consumer Behavior - The current market for AI glasses is characterized by high product homogeneity, with various brands offering similar functionalities, yet the overall market is still in the early stages of consumer education [1][5]. - Sales are primarily driven by enterprise users, with individual consumers showing limited purchasing intent despite high foot traffic in physical stores [6][8]. - The conversion rate from trial to purchase remains low, with sales personnel noting that many customers are curious but not ready to buy [8]. Competitive Landscape - Google has announced two new AI glasses products, indicating a significant entry into the market, which could enhance the industry's growth potential [12]. - Different brands are exploring various technological paths, with some focusing on AR optical displays while others emphasize voice and audio interaction, reflecting a diverse approach to wearable AI technology [12][13]. Technical Challenges - The AI glasses industry faces several technical hurdles, including balancing battery life and performance, as well as the need for more diverse applications and ecosystems [13]. - Current products struggle with short battery life and heavy designs due to the high computational demands of AR displays, while audio devices are still defining their unique value propositions [13].