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雷鸟发布光波导方案X3ProAR眼镜,融合AI多模态大模型
Jianghai Securities· 2025-05-30 12:55
Investment Rating - The industry investment rating is maintained at "Overweight" [1] Core Insights - The report highlights the increasing importance of domestic GPU chip procurement supported by Beijing, emphasizing the significance of domestic substitution for AI chips [3] - The launch of multiple AI glasses is noted, with a rapid market growth rate anticipated [3] - The report indicates that the global top ten foundry output value is expected to reach a record high in Q4 2024, driven by strong demand for advanced processes [3] - The slowing of Moore's Law is leading to increased demand for heat dissipation solutions, with graphene heat dissipation expected to become a superior solution [3] - NAND price increases announced by SanDisk are expected to drive the storage industry's upward trend [3] Summary by Sections Recent Industry Performance - Over the past 12 months, the industry has shown a relative return of 26.37% compared to the CSI 300 index, with an absolute return of 33.15% [2] Key Events - The launch of the RayNeo X3 Pro AR glasses on May 27, 2025, is a significant event, featuring advanced specifications such as a Qualcomm Snapdragon AR1 platform and a display capable of 16.7 million colors [5] - CounterPoint forecasts a 42% year-on-year growth in AR glasses shipments for 2025, marking it as the fastest-growing segment [5] - The introduction of a 12-megapixel AI glasses application CMOS image sensor by SmartSens is also highlighted, showcasing advancements in lightweight and low-power technology [5] Investment Recommendations - The report suggests focusing on companies within the AR glasses supply chain, including GoerTek, Luxshare Precision, Yida Information, Crystal Optoelectronics, and SmartSens, due to the anticipated acceleration in AR glasses development driven by optical technology advancements and multimodal AI integration [5]