AI 眼镜"功能探索期迈向"规模化爆发期" 摘要 2024 年全球眼镜市场规模庞大，近视及太阳眼镜销量达 14-15 亿副， 并以每年 10%的速度增长，为智能眼镜市场奠定用户基础。Meta Ribbon AI 眼镜 2024 年销量达 140-150 万台，2025 年一季度已达 80 万台，预示智能眼镜市场潜力巨大。 2025 年智能眼镜市场新品频发，雷鸟、Meta 等知名品牌以及阿里、字 节等大厂纷纷入局，小米等厂商也在探索将智能眼镜与大模型结合，关 注功能与价格策略，旨在普及大众市场。 Meta Ribbon 的成功为国内厂商提供了积极信号，其产品逻辑从硬件思 维转向用户体验优先，促使国内厂商重新审视 AI 眼镜的本质需求，并积 极布局新产品。 智能眼镜未来竞争的关键在于技术可用性（AI 体验、硬件性能、隐私安 全）、价格可触达性（参考 Meta Ribbon 299 美元定价）和场景必要 性（实时翻译、第一视角拍摄等高频刚需应用）。 互联网大厂（百度、字节、阿里）凭借 AI 大模型和内容生态优势，将智 能眼镜作为软件服务入口；手机厂商（小米、华为、三星）利用供应链 和用户基础，整合生态系统；AR 技 ...

Group 1 - The report emphasizes the focus on "April Decision" under the economic context, indicating a shift from expectation-driven trading to fundamental pricing, with economic data, performance realization, and policy changes forming a "stress test" framework for stock prices [4][6][9] - The report highlights a selection of "golden stocks" across various sectors, including mechanical, electronic, environmental, coal and steel, computing, electric new energy, media internet, and pharmaceuticals, with detailed financial metrics provided for each [2][6][72] - The report suggests that the "April Decision" may lead to increased volatility in high-odds growth stocks, while larger, value-oriented stocks tend to perform better historically during this period [4][6] Group 2 - For the mechanical sector, the report recommends Niuwei Co., which is positioned as a global leader in industrial valves, benefiting from strong demand in LNG and marine industries, with expected overseas order growth of over 30% in the first half of 2024 [9][10][11] - In the electronic sector, Tianyue Advanced is highlighted for its core role in AR glasses components, with anticipated demand growth driven by major tech companies' product launches [15][16][17] - The environmental sector's Huanlan Environment is noted for its strong dividend growth and improved cash flow from debt resolution, with significant operational scale expansion through acquisitions [20][21][24] - In the coal and steel sector, Shanjin International is expected to benefit from rising gold prices amid economic stagnation risks, with a strong production outlook and low cost per gram of gold [27][29][30] - Dongtu Technology in the computing sector is recognized for its advanced operating system and AI-driven robotics, positioning it well for future growth in industrial automation [33][34][35] - Keda Li in the electric new energy sector is projected to maintain strong profit growth driven by high lithium battery demand, with a favorable valuation outlook [38][39][41] - XGIMI Technology in the media internet sector is expected to see revenue growth from domestic recovery and international expansion, particularly in the automotive sector [44][45][48] - In the pharmaceutical sector, Sanofi Pharmaceutical is noted for its solid fundamentals and multiple new product launches, contributing to revenue diversification [50][51][53] - Innovent Biologics is highlighted for its robust pipeline and international expansion potential, with several new drugs expected to drive revenue growth [55][56][61] - Zoli Pharmaceutical is recognized for its steady growth in traditional Chinese medicine products and successful new product launches, with ambitious profit targets [65][66][68]