Core Insights - Immersive interaction is a technology-driven experience that enhances user engagement through various modalities, tracing its roots back to the 1960s with the development of the first computer graphics-driven head-mounted display [2] - The concept of the metaverse in 2021 led to a surge in global shipments of head-mounted devices, surpassing 10 million units for the first time, marking a significant industry trend [2] - The launch of Apple Vision Pro in 2023 represents a major breakthrough in spatial computing technology, attracting widespread industry attention [2] - In China, competitive head-mounted device manufacturers like PICO and DPVR have emerged, and VR large spaces are set to become a new offline entertainment method by 2024, integrating immersive experiences with cultural IP [2] Group 1: Key Technologies of Immersive Interaction - Extended Reality (XR) technology, encompassing VR, AR, and MR, is a crucial driving force in the development of immersive interaction [4] - The four core elements of XR technology are undergoing significant upgrades: - Display technology is evolving towards thinner, lighter devices with improved clarity [7] - Chip technology is advancing towards high computing power, low power consumption, and multifunctionality [7] - Interaction technology is integrating gesture recognition, eye tracking, voice interaction, and brain-computer interfaces for a multimodal experience [7] - Acoustic technology is enhancing sound source localization and creating a multi-sensory immersive experience [8] Group 2: Industry Applications of Immersive Interaction - XR technology has matured in various sectors in China, with active applications in entertainment, sports, cultural tourism, and industrial fields [8] - In the entertainment sector, XR technology is being integrated into gaming, live streaming, and film, with over 21,000 content pieces available on major VR platforms by the end of 2024 [11] - The sports industry is leveraging XR technology to innovate sports experiences, enhancing audience engagement through interactive viewing platforms [14] - In cultural tourism, XR technology is being used for smart guiding, immersive space creation, and digital preservation of cultural heritage, aligning with consumer demand for deep experiences [17] - The industrial sector is utilizing XR technology across various stages, including R&D design, production assembly, quality inspection, and maintenance, improving efficiency and reducing costs [20] Group 3: Future Trends - Generative AI is revolutionizing 3D content production, enabling efficient creation of models, scenes, and animations, and enhancing interactive capabilities [21] - Brain-computer interfaces are expected to deepen immersive experiences by allowing direct communication between the brain and external devices [24] - Spatial computing is emerging as a new paradigm, merging physical and virtual worlds to create seamless interactions and expand user experiences [25][27]

Group 1: Company Performance - The company expects to achieve approximately 2.633 billion yuan in revenue for the first half of 2025, representing a year-on-year growth of about 58.17% [1] - The anticipated net profit attributable to shareholders is between 1.1 billion and 1.2 billion yuan, reflecting a year-on-year increase of 85.50% to 102.36% [1] - The growth is primarily driven by a significant increase in the shipment volume of DDR5 memory interface and module supporting chips, along with a substantial rise in sales revenue from three high-performance transport chips totaling 294 million yuan [1] Group 2: Market Position and Future Outlook - According to Frost & Sullivan, the company has become the largest memory interconnect chip supplier globally, holding a 36.8% market share in 2024 [2] - The memory interconnect chip market is projected to grow from 1.2 billion dollars in 2024 to 5 billion dollars by 2030, with a compound annual growth rate (CAGR) of 27.4% [2] - The PCIe and CXL interconnect chip market is expected to expand from 2.3 billion dollars in 2024 to 9.5 billion dollars by 2030, with a CAGR of 26.7% [2] - The chairman of the company highlighted that the rapid advancement of artificial intelligence technologies is driving a profound transformation in the industry, leading to significant growth in the AI server market [2]