Core Viewpoint - The AR market is still in its early stages, with significant growth potential, leading to parallel development of reflective and diffractive waveguide technologies [1] Industry Demand - The global market demand for AR terminal devices is expected to exceed 10 million units in the medium term, with leading consumer electronics companies likely to dominate [1] - There is a notable industry clustering effect, creating substantial demand for key suppliers' production capacity [1] Company Strategy - The company is actively collaborating with several leading waveguide manufacturers and aims to work directly with industry-leading terminal manufacturers to understand technical requirements [1] - The focus for the next phase is on achieving breakthroughs in consumer-level mass production processes to prepare for the upcoming demand for capacity expansion in the AR industry [1]