经济观察网佳禾智能（300793）8月14日在互动平台表示，公司有为安克、天猫、哈曼等客户生产智能 音频眼镜。有为AR眼镜品牌生产GO系列AR眼镜产品。公司与其他客户合作的AR眼镜也将陆续开发完 成进入试产验证阶段。 ...

北京商报讯(记者陶凤实习记者王天逸)8月13日，Rokid举办Rokid Glasses中国香港发布会，正式宣布公 司支持广东话(粤语)的智能眼镜Rokid Glasses(海外版)将在中国香港开售。 Rokid方面向北京商报记者表示，该款智能眼镜侧重亚太地区，海外市场现已成为公司的"重要着力 点"。 ...

Core Viewpoint - The company, Jiahe Intelligent (300793), is actively engaged in the production of smart audio glasses for clients such as Anker, Tmall, and Harman, and is also developing AR glasses products for the GO series [1] Group 1 - The company has confirmed its involvement in manufacturing smart audio glasses for notable clients [1] - The company is producing GO series AR glasses for a specific AR glasses brand [1] - Other AR glasses collaborations are in the development phase and will soon enter trial production verification [1]

Core Insights - The collaboration between Thunderbird Innovation and Ant Group has led to the launch of the Thunderbird X3 Pro, the world's first AI glasses that support "Alipay Tap to Pay" functionality, allowing users to complete payment processes directly through the glasses [2][3] - The AI glasses industry is at a critical turning point, transitioning from technology validation to large-scale implementation, with payment integration reshaping the value chain of AI and AR glasses [2] Group 1: Product Features - The Thunderbird X3 Pro allows users to complete the entire payment process on the glasses without needing to connect to a smartphone, enabling a "look and pay" experience [3] - Users can initiate payments by pressing a button on the glasses, scanning a blue ring, and confirming payment with a voice command, eliminating the need for voice activation or manual input of payment amounts [3] Group 2: Security Measures - Thunderbird Innovation has implemented a comprehensive risk control system in collaboration with Ant Group to ensure payment security, including voiceprint recognition to respond only to authorized users [3] - Users have the ability to adjust payment limits, disable payment permissions, or unlink devices through Alipay, ensuring full control over their payment accounts [3] Group 3: Market Growth and Future Plans - According to Counterpoint, global smart glasses shipments are expected to grow by 110% year-on-year in the first half of 2025, with a projected compound annual growth rate of over 60% from 2024 to 2029 [4] - In China, smart glasses shipments are anticipated to reach 2.75 million units in 2025, reflecting a 107% year-on-year increase [4] - Thunderbird plans to expand payment capabilities to additional products, including the Thunderbird V3 and V3 Slim, and develop new service capabilities such as QR code pickup, bike sharing, utility payments, and price comparison [4]

Core Insights - The global smart glasses market experienced a year-on-year shipment growth of 110% in the first half of 2025, according to Counterpoint's report [1] - Strong demand for Ray-Ban Meta smart glasses, along with the entry of new players like Xiaomi and RayNeo, contributed to this growth [1] - Meta's market share in the global smart glasses sector rose to 73% in the first half of 2025, driven by robust demand and production capacity expansion from its main manufacturing partner, Luxottica [1]

Core Insights - The global smart glasses market is projected to see a 110% year-on-year increase in shipment volume in the first half of 2025, driven by strong demand for Ray-Ban Meta smart glasses and the entry of new players like Xiaomi and TCL-RayNeo [1] Market Overview - In the first half of 2025, AI smart glasses are expected to account for 78% of total smart glasses shipments, a significant increase from 46% in the first half of 2024 and 66% in the second half of 2024 [1] - The AI glasses segment is experiencing a year-on-year growth exceeding 250%, significantly outpacing the overall market growth, primarily due to the dominance of Ray-Ban Meta AI glasses [1] Brand Performance - Meta's market share in the global smart glasses market reached 73% in the first half of 2025, with Ray-Ban Meta AI glasses seeing a shipment increase of over 200% year-on-year [1] - Xiaomi's AI glasses emerged as a strong competitor, becoming the fourth best-selling model globally and the third best-selling in the AI glasses segment, despite being on sale for only about a week in the first half of 2025 [2]

Core Viewpoint - The AI glasses market is poised for explosive growth, driven by lightweight design, essential use cases, and consumer pricing, with a projected 188% increase in sales in China by 2025, potentially creating a trillion-yuan market space [1][2]. Market Dynamics - The evolution of AI glasses is transitioning from separate functional devices to integrated computing solutions, with three main product categories: audio devices, audio + camera devices, and AR integration devices [2]. - Major brands like Meta and Xiaomi are leading the consumer market, while domestic players are catching up in technology and application expansion [2]. Value Chain and Market Estimation - The cost structure of AI glasses shows that the main chip accounts for approximately 33% of total costs, with optical display and computing units making up 43% and 31% respectively [3]. - The global market for AI glasses is expected to exceed 190 billion RMB by 2030, with the Chinese market projected to surpass 50 billion RMB, reflecting a CAGR of over 80% over five years [3]. Industry Structure - The AI glasses industry value chain includes upstream manufacturers of optical modules, chips, and frames; midstream ODM/OEM manufacturers and software suppliers; and downstream brand manufacturers and distributors [3].

Core Viewpoint - AI glasses are seen as a new carrier for the application of AI large models, but the industry is facing significant challenges in supply chain maturity and consumer acceptance [3][6][8]. Supply Chain Challenges - The AI glasses industry is struggling with supply chain issues, including a lack of dedicated chips and core components, which hampers production and integration [4][6]. - The current demand for AI glasses is high, with consumers expecting multifunctionality, but the technology and supply chain are not yet ready to meet these expectations [5][6][8]. Market Performance - Despite the hype around AI glasses at major tech events, actual sales and consumer adoption remain low, with a reported 40% return rate for Xiaomi's AI glasses shortly after launch [5][6]. - The forecast for AI glasses shipments in China is expected to grow over 200% by 2025, reaching approximately 270 million units, but this is still small compared to the smartphone market [7][8]. Integration Difficulties - There is currently no single manufacturer capable of integrating all components of AI glasses, including materials, optics, hardware, software, and algorithms, which complicates the production process [8][9]. - The lack of specialized AI algorithms for glasses means that manufacturers are forced to use smaller models from smartphones, leading to integration challenges [8][9]. Cost and Pricing Issues - The cost of components, such as Micro LED displays, is high, making it difficult to produce affordable AI glasses for the mass market [9]. - Companies are exploring various strategies to reduce costs, such as selling AI glasses without lenses initially and focusing on online sales [11][12]. Consumer Acceptance and Retail Challenges - Traditional eyewear retailers face challenges in promoting AI glasses due to consumer perceptions, inventory management, and after-sales service requirements [12][13]. - The introduction of platforms to assist traditional retailers in selling smart eyewear is underway, aiming to simplify the sales process and improve consumer education [13][14].

Core Insights - AI glasses are seen as a new carrier for the application of AI large models, generating significant interest from brands, capital, and tech enthusiasts, yet the actual production remains limited [2][3] - The industry faces challenges in supply chain maturity, with companies struggling to meet consumer demands and integrate upstream components effectively [2][4] Industry Challenges - The lack of dedicated chips and core components hampers the development of AI glasses, with high return rates observed, such as a 40% return rate for Xiaomi's AI glasses [3][4] - Consumer expectations for multifunctionality in AI glasses create high demands on manufacturers, leading to difficulties in product development [4][5] - The supply chain for AI glasses is not yet fully developed, with issues in chip availability, AI algorithms, and production processes [4][6] Market Potential - Predictions indicate that the shipment of AI glasses in China could exceed 2.7 million units by 2025, representing a growth of over 200% from previous years [5] - Despite the anticipated growth, the AI glasses market remains small compared to the global smartphone market, which exceeds 1 billion units [5][6] Integration Difficulties - The AI glasses industry encompasses multiple components, including chips, sensors, and algorithms, but no single manufacturer has successfully integrated all aspects [6][7] - The complexity of integrating various technologies leads to challenges in achieving a cohesive product offering [6][7] Cost and Accessibility - The cost of components, such as Micro LED displays, significantly impacts the retail price of AI glasses, making them less accessible to consumers [7] - Companies are exploring cost-effective solutions and partnerships to enhance production capabilities and reduce prices [8][9] Distribution and Consumer Awareness - Traditional eyewear retailers face challenges in promoting AI glasses due to consumer awareness and the need for extensive product education [9][10] - Initiatives are being developed to assist traditional retailers in selling smart eyewear more effectively, including the introduction of specialized sales platforms [10]

Economic Overview - China's GDP grew by 5.3% year-on-year in the first half of the year, an increase of 0.3 percentage points compared to the same period last year, indicating a stable economic foundation and strong resilience [1] Consumer Behavior - The introduction of a trade-in policy has stimulated a trend towards health-focused consumption, with consumers increasingly inquiring about health monitoring features in smart devices [2][6] - Sales staff are now required to be well-versed in health monitoring functions and subsidy policies to effectively assist customers [6] Product Demand - There is a notable increase in demand for smart wearables, particularly those with health monitoring capabilities, as evidenced by a 70% inquiry rate for blood pressure monitoring features among customers [2][6] - The store sold over 400 smart devices in June alone, reflecting a growing consumer interest in health management through technology [5][6] Market Dynamics - The policy to encourage trade-ins has expanded to include various digital products, leading to over 69 million consumers purchasing more than 74 million digital items this year [6] - The market is witnessing a shift where consumers prioritize health monitoring features over traditional concerns like battery life and price [6][7] Sales Strategy - Retailers are adapting their sales strategies by increasing training sessions for staff to focus on health data interpretation and ensuring customers are aware of available subsidies [6][7] - The collaboration between manufacturers and healthcare institutions is enhancing the accuracy of health monitoring features in smart devices [6]