以下文章来源于TrendForce集邦 ，作者TrendForce TrendForce集邦 . 图片来源：Meta 根据 《TrendForce 2025近眼显示市场趋势与技术分析报告》 ，AI赋能助力讯息提示类AR应用 兴起，预估2025年全球AR装置出货规模将年增9.1%，达到60万台。 TrendForce集邦咨询表示，Meta的AR新品搭载单眼近眼显示，可视角度(Field of View, FoV)为 20度，确立了20-35度FoV即可满足AI资讯辅助的需求。加上解析度600x600、像素密度 42PPD(pixel per degree)，与亮度5,000 nits的产品规格，精准锁定资讯提示类应用市场。 Meta未选择主流的单绿色LEDoS显示技术结合光波导的技术路线，而是采用由OmniVision(豪威) 供应的LCoS全彩显示屏，搭配Lumus的阵列光波导方案的原因为，LCoS具备技术成熟、可实现 单片全彩、成本可控等优势，平均功耗的表现也较优异，因此受Meta青睐。此举除了将推升搭载 LCoS显示技术的产品市占，也有机会提高这项技术的热度，促使其他品牌投入资源。 然而，LCoS在光机微 ...

Core Insights - The near-eye display device market is expected to show a lackluster performance in the short term, with global shipments projected to reach 6.2 million units by 2025 [2] - The VR/MR market, particularly Meta Quest 3s, is anticipated to see a decline in shipments to 5.6 million units by 2025, while AR devices are expected to perform more steadily, with shipments reaching 600,000 units driven by new AI+AR products and decreasing OLEDoS prices [2] - Long-term growth is expected, with global near-eye display shipments projected to rise to 46.5 million units by 2030, supported by ongoing product development from major companies like Meta and Apple, and strong growth in the AR market [2] AR Display Technology Market Development - OLEDoS remains the mainstream technology in China due to its cost advantages, but other technologies pose a threat to its dominance [6] - LCoS technology is expected to gain traction in the market due to Meta's adoption, while the growth of single green LEDoS AR glasses will enhance the penetration of LEDoS technology [6] - The demand for AR devices is increasing, with expectations for shipments using high-spec full-color LEDoS technology to reach 20.9 million units by 2030, achieving a penetration rate of 65% [7] Optical Waveguide Technology and SiC Supply Alliance Analysis - The choice of optical waveguide technology is critical for AR engine modules, with diffraction waveguides currently being the mainstream but needing efficiency improvements [9] - NIL and PL are the two main processing methods for waveguides, with NIL suitable for small-scale development and PL better for mass production [9] - The trend towards larger SiC substrates is expected to enhance cost-effectiveness, with projections indicating that 8-inch SiC substrate shipments could exceed 20% by 2030, moving towards 12-inch substrates in the long term [9] AR Product Development Trends - The specifications of AR devices are becoming standardized to control costs, with mainstream panel sizes for LEDoS and LCoS ranging from 0.13 to 0.18 inches and pixel densities exceeding 5,500 PPI [10] - Chinese brands like Xreal, RayNeo, and INMO are focusing on different strategies, such as enhancing display technology and integrating AI capabilities, reflecting a shift from hardware competition to a more complex software-hardware ecosystem [10]

Core Viewpoint - The article highlights the acceptance of Visionary Technology's IPO application on the Sci-Tech Innovation Board, aiming to raise 2.015 billion yuan for production line expansion and R&D center construction to enhance capacity and technology optimization [1]. Company Overview - Visionary Technology, established in 2016 and headquartered in Hefei, specializes in Micro OLED displays, with applications in head-mounted displays and smart glasses, collaborating with brands like DJI, Xiaomi, XREAL, and Thunderbird [1]. Production Capacity - Currently, the company operates a 12-inch evaporation line with a monthly capacity of 9,000 wafers, having shipped over 1 million units [3]. - Future plans include expanding to three 12-inch evaporation lines, increasing monthly capacity to 27,000 wafers [3]. Financial Performance - Financial projections indicate revenues of 190 million yuan, 215 million yuan, and 280 million yuan for 2022, 2023, and 2024, respectively, while the company remains in a loss position with net profits of -247 million yuan, -304 million yuan, and -247 million yuan for the same years [3]. - The company acknowledges that the current phase is a rapid development period for the industry, with AI terminal products evolving quickly, and is investing heavily in production lines, which may pressure short-term profitability due to depreciation costs but is expected to improve as capacity is released [3].