" 用户永远渴望更大的视野和更沉浸的感受。 " 作者丨 余快 编辑丨 刘伟 01 MR：下一个屏幕交互超级单品 MR为什么具备这个潜力？ 如果说手机是联接"人与信息"的桥梁，那MR就是联接"物理世界和数字世界"的桥梁，而且后者是更高级 的形态。 手机的核心价值在于将信息世界"移动化"和"随身化"，通过一方小小的屏幕，我们将全球的信息和服务接 入掌心。然而，手机的本质是将用户的注意力从物理世界吸引到二维屏幕中，这是一种"隔离"。 电视→电脑→手机 过去30年，屏幕介质发生了3次重大迭代，每一次迭代，都围绕 "交互效率" 与 "场景覆盖" 展开，逻辑 都是更沉浸、更移动、更个人化，都带来 10 倍以上的信息密度提升。 当下的手机已经是体验的天花板，但受限于 6～7 英寸物理尺寸，手机已经无法承载三维空间交互。无论 是影音娱乐、游戏还是社交，用户永远渴望更大的视野和更沉浸的感受。 在信息爆炸、屏幕太小的背景下，MR似乎在承接下一个屏幕交互超级单品。 8月21日，vivo Vision混合现实头显探索版将在vivo Vision发布会暨影像盛典上正式亮相。 "不夸张地说，MR是下一代具有手机潜力的产品。"vivo执行 ...

以下文章来源于硬氪 ，作者黄楠 硬氪 . 专注全球化、硬科技报道。36kr旗下官方账号。 2025年上半年营收， 同比2024年全年实现300%增长。 文 ｜ 黄楠 编辑 ｜ 彭孝秋 来源｜ 硬氪（ID：south_36kr） 蒙通智能鲲显 智能眼镜（图源/企业） 封面来源 ｜ 企业供图 硬氪获悉，深圳市蒙通智能科技有限公司（以下简称"蒙通智能"）近日完成数千万元Pre-A轮融资，本轮由A股上市公司智动力战 略投资，高轼资本担任独家财务顾问。融资资金将重点投入产品研发、团队扩建及生态落地。 "蒙通智能"成立于2022年，专注"AI+AR 眼镜"为核心的软硬件AI终端产品自主研发、以及"空间AIOS系统"为计算中心的生态构 建，以实现空间智能时代的AI智能体。 创始人张冒磊为原"金立手机"核心创始成员、研发负责人，曾参与研发多款爆款手机产品，其对消费电子行业的深刻理解，有助 于将前沿技术快速转化为量产产品。"蒙通智能"多位核心成员均来自金立、OPPO、VIVO、阿里、日立、MTK、创维等头部企 业，团队涵盖了"手机产业+移动互联网+AI"领域复合背景，具备硬件研发、软件系统、AI算法的"铁三角"耦合能力。 当前 ...

过去两年，科技行业的风口转向了大模型和人形机器人。在消费电子领域，轻巧便携的 AI 眼镜、AI 玩具成为投资人和媒体追逐的新热点。 但这并不意味着 MR 已经淡出舞台。相反，尽管目前声量相对低调，MR 仍在持续演进，行业普遍 认为它尚未到达真正的爆发"奇点"。哪怕是苹果在 2024 年开售 Vision Pro，也更多起到了探索范式 的作用，为未来积蓄势能。 苹果用了十年时间打造这款空间计算产品，它确实代表一种新的技术范式。只不过，高昂的成本与复 杂的系统门槛，让大多数厂商在短期内更倾向于通过轻量化眼镜、结合 AI 能力来打开市场。但这并 不意味着 MR 的前景受限——相反，它依旧是下一代人机交互的重要方向，只是行业在等待一个更 合适的拐点。 但vivo选择了一条不同的路。 在8月中旬举办的vivo会客厅-Vision探享会上，vivo正式发布了历时数 年打造的MR产品——vivo Vision混合现实头显探索版，用一款相当高完成度的产品，展示了其在空 间计算领域的长期决心。 在市场热度不高的当下，发布MR头显看起来是一个有点大胆的选择。因为这不可能是什么临时起意 的项目，熟悉MR产品的人就知道，打造这样一个 ...

今年 4月 ，分析师就给出苹果公司 （NASDAQ： AAPL ）"强烈买入" 的评级。当时的情况确实值得入手 —— 估值合理，还有不少能推动股价的利好 因素。从那以后，苹果股价涨了 18% 多，上周摸到 235.12 美元，之后小幅回调。比起四月 一百多美元的低点，这反弹幅度不小，不过今年以来股价 仍跌了约 7%。 即便四月以来已经涨了不少，分析师还是觉得苹果值得买。快速反弹的阶段可能过去了，但整体逻辑没变。现在的股价，对应往绩市盈率约 35 倍 —— 这个估值偏高，但有持续增长撑着：最近一季度营收涨了 10%，利润还在增加，今年经营性现金流已经突破 800 亿美元了。 许多人忽略了苹果商业模式的巨大变化。上季度，服务业务营收274亿美元，利润率接近75%，稳步降低了对硬件的依赖。与此同时，苹果决定 向美国 投资1000亿美元， 这既能规避关税风险，也能和美国政府走得更近。 真正值得持有苹果股票的理由与 iPhone 销量在某一年是否飙升关系不大。它取决于生态系统的实力及其产生的经常性收入。这种可预测性值得溢价。 2025年第三季度的业绩展现了该公司依然坚韧不拔的实力。根据2025年第三季度的业绩，净收入同 ...

Core Insights - The company reported a significant improvement in its financial performance for the first half of 2025, achieving a revenue of 988 million yuan, a year-on-year increase of 29.64%, and a net profit of 23.62 million yuan, marking a turnaround from a loss of 6.68 million yuan in the previous year, with a growth rate of 453.67% [1][2][4] Revenue Breakdown - The data traffic business emerged as the core revenue driver, generating 967 million yuan, accounting for 97.93% of total revenue, with a year-on-year growth of 29.56% [2] - The esports gaming sector, while only contributing 2.01% to total revenue, saw a substantial growth of 57.04%, indicating early success in diversifying the business structure [2] Cash Flow and Regional Performance - The net cash flow from operating activities improved significantly to 88.02 million yuan, compared to a negative cash flow of 20.14 million yuan in the same period last year, reflecting a year-on-year growth of 537.05% [2] - Domestic revenue accounted for 98.72% of total income, while overseas revenue, although only 1.28%, grew by 186.84%, showcasing potential for international expansion [2] Business Platforms and AI Integration - The company has established three core business platforms: AI Marketing SaaS, Mobile Application Distribution PaaS, and Spatial Intelligence MaaS, which are strategically aligned to drive growth through AI and data [3][4] - The AI Marketing SaaS platform generated 208.5 million short videos, with AI-generated content accounting for 5.4%, and has been recognized for compliance and technological advancement [3][4] - The Mobile Application Distribution PaaS platform reached a total of 349 million registered users, maintaining stable monthly active users, and supports various applications across multiple sectors [3] Spatial Intelligence and Technological Advancements - The Spatial Intelligence MaaS platform has accumulated over 1.5 million sets of 3D data and 650,000 sets of multimodal data, with significant datasets registered at the Beijing International Big Data Exchange [4] - The company’s strategic focus on data traffic and AI has laid a solid foundation for future growth, particularly in cutting-edge fields such as AIGC and intelligent recommendation systems [4]

Group 1 - Vivo Vision Explorer Edition MR headset was officially launched on August 21, weighing only 398g, making it the lightest spatial computing device globally [1] - The headset features a compact design, self-developed spatial computing algorithms, and a dual-ring strap for improved wearing experience [1] - It is powered by the second-generation Snapdragon XR2+ platform, with performance improved by 2.5 times compared to the previous generation [1] Group 2 - The core of spatial computing is to merge the virtual and physical worlds, enabling digital interaction in three-dimensional space [1] - According to Wind data, the total revenue of the spatial technology service industry is projected to reach 3.076 billion yuan in 2024, with significant application potential in AI, robotics, and the metaverse [1] - The advancement of AI technology and edge computing is driving spatial computing from concept to large-scale implementation, becoming a key force in industrial intelligence [1] Group 3 - Omdia predicts that the global spatial computing market will exceed $10 billion by 2029, with a compound annual growth rate of 18% [2] - Liard has achieved multiple intellectual property results in the AI and spatial computing sectors, with projected revenue of 307 million yuan in 2024, accounting for 4.29% of total revenue [2] - Entropy Technology is utilizing multimodal BioCV technology to build a comprehensive perception system, transitioning spatial management from static to autonomous decision-making and evolution [2]

明敏 发自 凹非寺 量子位 | 公众号 QbitAI 首个国产手机厂造的MR头显，来了！ vivo Vision 探索版正式发布。 仅重398g，是苹果Vision Pro的2/3（600g），和一个头戴耳机差不多重。 机身小巧，小手提包也能轻松装下。 支持100-1000度以下磁吸近视镜片，绝大多数近视人群都能"无痛体验"。 支持眼手交互，可无缝连接vivo手机、PC。 搭载第二代骁龙XR2+芯片。 明天开始，北京、上海、深圳、广州等12城12家门店可线下预约体验。 价格虽没有发布，但是高管透露 "目标万元内" ，对比苹果vision Pro是29999元。 发布刚刚结束就喜提一波热搜，讨论度很高啊。 具体产品如何，一起来看—— 让MR头显重量"从柚子降到芒果" 首先，vivo vision最直观的一个亮点就是 很轻 。 官方给了一个直白的比较，600g的MR头显戴着像顶着一颗柚子，而398g就像顶着一个芒果。再直接一点，和戴一个头戴耳机几乎没区别 了。 对比友商，大多数都还困于500g以上的自重。 要知道，头显太重会导致非常多问题， 比如舒适度、佩戴时长、便携程度等 ，这3点很大程度上决定了MR头显到底能 ...

自2024年以来，以生成式AI和空间计算为代表的科技浪潮以史无前例的深度和广度重塑着千 行百业。从AI PC的曙光初现到智能汽车"第三空间"概念的深化，再到AR/VR设备探索消费级 市场的路径，一个由算力和模型驱动的数智化新纪元已然来临。作为承载信息洪流、实现人机 交互、构筑沉浸体验的核心硬件，显示技术正处在这场变革风暴的中心，迎来到了前所未有的 机遇与挑战。 在过去的一年多时间里，显示产业的内部演进同样波澜壮阔，各大主流技术路线在激烈的市场 竞争中奋力求索，迈向新的发展拐点： Micro LED： 发展路径逐渐清晰，产业化进程的齿轮加速转动。一方面，巨量转移技术、全 彩化等瓶颈持续松动，降本之路的探索也有了新方向；另一方面，凭借优越的性能优势， Micro LED在大尺寸显示、高端车载、穿戴设备等领域的应用潜力，正从概念加速走向商业落 地，逐步寻得可以立足并扩大规模的利基点。 Mini LED： 历经市场洗礼，成功从"技术先锋"转型为"市场主力"。在背光领域，其凭借极致 的控光分区与高性价比，持续与OLED在高端电视及显示器市场分庭抗礼；在直显领域，随着 COB/MiP等封装技术的发展，Mini LED直显 ...

Summary of AI Glasses Industry Research Industry Overview - The AI glasses market is projected to have significant growth, with global sales potentially exceeding 90 million units by 2030, and expected shipments nearing 10 million units in 2025, reaching 20 million units in 2026, indicating substantial market penetration potential [1][4] Key Insights and Arguments - AI glasses are positioned as an easy-to-promote, cost-effective end-device, with significant upgrades in internal components such as cameras, chips, and microphones, leading to high investment elasticity similar to the development path of TWS (True Wireless Stereo) headphones [1][5] - The current AI glasses market is likened to the TWS headphone market in 2015-2016, indicating it is in an early attention phase, with expectations of entering a rapid growth phase by 2025 and a potential explosion in 2026 [1][6] - The global eyewear market was valued at approximately $184.1 billion in 2023, comparable to the smartphone market in 2012, suggesting that AI glasses have significant potential to replace traditional eyewear [1][7] Catalysts for Industry Development - Key catalysts for the AI glasses industry include the launch of new products by manufacturers, increased market attention towards AI glasses, and existing product shipments exceeding expectations, all of which will drive sector growth [1][8] Market Dynamics and Supply Chain - The cost structure of Meta's AI glasses includes SoC assembly (34%), storage (21%), and cameras (7%), with Qualcomm being the largest supplier at 36% [1][9] - Notable suppliers in the AI glasses supply chain include GoerTek, Hengxuan, and other companies involved in the core and flexible segments of the industry, which are expected to see significant profit elasticity as sales reach 17 million units by 2027 [1][15] Technology and Product Development - Xiaomi's AI glasses utilize an MCU and SoC chip solution, with significant value in the assembly process, highlighting the importance of component suppliers like GoerTek and Longqi [1][10][11] - The optical display technology in AR glasses is evolving towards full-color displays, with Micro LED and diffraction waveguide technologies being the most promising, although still in development [1][14] Investment Perspective - From an investment standpoint, AI glasses are seen as a relatively simple and cost-effective device with significant future potential, following historical trends of major upgrades in consumer electronics [1][5] - The current stage of AI glasses is expected to yield greater market capitalization increases compared to profit growth during the industry explosion phase, indicating a potential for valuation enhancement [1][6] Conclusion - The AI glasses industry is at a pivotal moment, with substantial growth potential driven by technological advancements, market dynamics, and evolving consumer needs, making it a sector to watch for future investment opportunities [1][8][15]

wo[Table_Title] Research Report 13 Aug 2025 电子 Technology WRC 2025 聚焦（4）：多场景加速落地，EAI 与空间计算引领机器人产业新周期 WRC 2025 Focus (4): Embodied Intelligence and Spatial Computing Drive Robotics' New Growth Cycle 姚书桥 Barney Yao 吴叡霖 Louis Ng barney.sq.yao@htisec.com louis.yl.ng@htisec.com [Table_summary] (Please see APPENDIX 1 for English summary) 事件： 在 2025 世界机器人大会（WRC）的多场主题论坛上，中国科学院、日本工程院、阿联酋机器人与自动化学会、京东 集团以及中国工程院等机构与企业，分别从具身智能、机器人产业战略、商业生态建设及核心技术路径四大方向， 分享了全球机器人产业在未来十至二十年的发展蓝图。 点评： 具身智能的系统性进化，日本正以"人机共生"为核心理念推进具身智能。构建具备环 ...