Core Viewpoint - The AI terminal industry is undergoing a significant transformation, with smart glasses emerging as a key product that could redefine human-computer interaction and personal data management, potentially becoming the most important mobile entry point after smartphones [2][3]. Group 1: AI Glasses Development - Smart glasses are seen as one of the best carriers for AI implementation, providing practical applications such as calorie counting and navigation [1]. - The "hundred glasses battle" is just the beginning, with smart glasses expected to dramatically increase personal data volume and serve as a sensory hub for human interaction [2]. - Major companies like Rokid and Alibaba are developing advanced features for smart glasses, such as low power consumption, long battery life, and enhanced user experience through innovative technologies [2][3]. Group 2: Traditional Terminals and AI Integration - The integration of AI into traditional terminals is progressing through three stages: app-based AI, functional AI, and systemic AI, with Huawei's HarmonyOS 6.0 entering the third stage [4]. - Lenovo emphasizes the goal of AI terminals to become true "silicon-based twins," fundamentally changing user interaction with technology [5]. - The industry is characterized by a diverse exploration of AI terminals, which will reshape human-computer interaction and expand service consumption boundaries [5][6]. Group 3: Industry Collaboration and Standards - The Ministry of Industry and Information Technology is working on national standards for AI terminal intelligence grading, focusing on innovation, stability, application development, and ecosystem promotion [6]. - Key industry players stress the importance of building a domestic computing foundation and fostering open collaboration to enhance the AI terminal ecosystem [5][6].

Investment Rating - The report does not explicitly state an investment rating for the industry or the specific company being analyzed [1]. Core Insights - The company, Aobo Zhongguang, focuses on the research and development of 3D visual perception technology, aiming to enhance the understanding of the world by various terminals in the era of artificial intelligence [11][17]. - The main business includes the design, research, production, and sales of 3D visual perception products, which encompass 3D visual sensors and both consumer and industrial application devices [11]. - The company has established a comprehensive technical system for 3D visual perception, integrating multiple complex disciplines such as optics, mechanics, electronics, chip design, algorithms, SDK, and firmware development [11]. Summary by Sections Company Overview - Aobo Zhongguang specializes in 3D visual perception technology and aims to create a platform for robotics and AI visual industries [11]. - The company has a strong focus on autonomous intellectual property development from chip design to algorithm implementation, achieving a leading position in the global 3D visual industry [12]. Chip Development - The company has developed specialized chips, including the MX series depth engine chip, which has undergone five iterations and significantly reduces power consumption while enhancing processing capabilities [12][13]. - The latest MX6800 chip supports various imaging systems and is widely used in robotics applications, while the LS635 chip is designed for dToF laser radar sensors, targeting applications in robotics, drones, and autonomous driving [13][14]. Robotics Sector - The company is strategically focusing on the robotics sector, leveraging its comprehensive product offerings and partnerships to enhance its market presence [14]. - Aobo Zhongguang has launched several series of 3D cameras that perform well in diverse lighting conditions, catering to various robotic applications [14]. Financial Performance - For the fiscal year 2024, the company anticipates a revenue of approximately 562.19 million yuan, reflecting a year-on-year growth of about 56.16%, while expecting a net profit loss reduction of approximately 78.26% [15][16]. - The company is committed to accelerating product innovation and optimizing its product structure to achieve sequential revenue growth [16]. Future Applications - The company envisions expanding the application of 3D visual technology across various sectors, enhancing user interaction through intelligent devices that can perceive and respond to their environment [17]. - The ongoing development of AI terminals is expected to provide broader opportunities for the company's technological innovations and market expansion [18].