Core Viewpoint - Huawei has formed a strategic partnership with Nanning Watch Factory to produce smartwatches that combine traditional watchmaking techniques with modern technology, featuring the HarmonyOS [1][5]. Group 1: Partnership Details - The collaboration will result in the launch of smartwatches that integrate traditional craftsmanship with smart features such as health monitoring, fitness tracking, and mobile payment [5]. - Nanning Watch Factory, established in 1970, is the only professional watch manufacturer in China's ethnic minority regions and has a rich history in watchmaking [4][5]. - The partnership aims to revitalize the Nanning Watch Factory by leveraging Huawei's technological capabilities, promoting innovation in the watchmaking industry [5]. Group 2: Market Performance - Huawei's smartwatch market share has been increasing, surpassing Apple in online sales in China last year [2][6]. - In 2024, Huawei's online smartwatch sales in China grew by 24.3%, capturing a market share of 31.9%, while Apple's sales declined by 24.6% [7]. - Globally, Huawei's wearable device sales reached 26.5 million units in 2024, marking a 54.2% year-on-year growth and securing a 13.7% market share, ranking third worldwide [7]. Group 3: Product Features and Market Trends - The upcoming smartwatches will feature a blend of mechanical aesthetics and smart functionalities, catering to consumer preferences for both traditional craftsmanship and modern technology [5]. - The HarmonyOS ecosystem has surpassed 1 billion devices, indicating a strong growth trajectory and a goal to enhance the ecosystem with 100,000 applications by 2025 [8]. - The Chinese smartwatch market is expected to rebound in 2024, with the integration of generative AI and hardware opening new growth avenues [9].

Group 1: Smart Glasses and AI Agents - A new product, NSVExBleeqUpAI sports shooting glasses, is set to be mass-produced and sold in June, marking a strategic collaboration between Zhijing Unknown and Star Creation Vision [2] - The smart glasses market is transitioning from basic hardware to intelligent assistance, with significant growth potential as major tech companies continue to innovate [2] - Wellsenn predicts that global AI glasses sales could reach 5.5 million units by 2025, representing a 135% year-on-year increase [2] - The Lenovo Innovation Technology Conference will focus on the large-scale implementation of AI Agents, showcasing advancements in interactive AI products [3] - The global AI Agent market is estimated to reach $5.4 billion in 2024, with a projected compound annual growth rate of 45.8% from 2025 to 2030 [3] Group 2: Huawei's Harmony OS and PC Market - Huawei is set to launch its Harmony OS-based PCs, marking a significant shift away from Windows, with all new laptops expected to run on Harmony OS after April [4][5] - The Harmony OS is anticipated to open doors in the government and enterprise markets, leveraging self-developed chips and systems for enhanced compatibility [5] Group 3: Weight Loss Drugs Market - The World Health Organization plans to officially recommend the use of weight loss medications for adult obesity, indicating a major policy shift in addressing obesity [6] - The market for GLP-1 weight loss drugs is expected to grow significantly, with estimates suggesting a market size exceeding 37.85 billion yuan by 2030 due to increased accessibility and demand [6]

Group 1 - The A-share AI glasses sector is experiencing active trading, with significant price movements observed in several companies [1] - Yingtong Communications has reached the daily limit increase, indicating strong investor interest [1] - Weida Optoelectronics and Doctor Glasses have both risen over 6%, reflecting positive market sentiment [1] Group 2 - Other companies such as Jiahe Intelligent, Thunder Technology, Huilun Crystal, and Mingyue Lenses are also seeing upward trends, suggesting a broader rally in the sector [1]

Group 1 - The AI glasses sector opened high, with Yingtong Communications (002861) hitting the daily limit up at the opening [1] - Deep Kangjia A rose over 8%, while Doctor Glasses (300622), Jiahe Intelligent (300793), and Huilun Crystal (300460) also opened high [1] - The market is focusing on leading companies in the sector, suggesting that investors should consider buying index ETFs to capitalize on the rebound [1]

Core Insights - The documentary "Focusing on the Leading Area" highlights the breakthroughs in the smart wearable sector in Pudong New District, particularly praising DPVR's innovative practices that have earned global recognition for the region's smart wearable industry [1] - DPVR has been deeply involved in hardware research and development for over a decade, establishing a unique technological moat for its entry into the AI terminal market [1] Group 1: Technological Innovations - DPVR is set to launch the AI glasses, DPVR AI Glasses, which aim to enhance the consumer photography experience through significant advancements in optical design and distortion correction [3] - The glasses utilize multi-dimensional optical module calibration technology to achieve distortion pre-compensation during hardware design, significantly improving linear distortion and reducing edge stretching [3] - The device's soft and hard collaborative correction system effectively addresses common issues like barrel distortion, ensuring accurate restoration of the golden ratio in urban skyline photography [3] Group 2: Dynamic Imaging and HDR Technology - The DPVR AI Glasses achieve a leap in dynamic image capture by employing a self-developed anti-shake system that surpasses conventional electronic stabilization limitations [4] - The integration of MEMS micro-electromechanical systems with AI motion prediction algorithms allows for pixel-level dynamic compensation, maintaining low center displacement during high-speed motion scenarios [4] - The device features HDR fusion technology with a multi-spectral sensor array, enhancing dynamic range capture capabilities and significantly reducing highlight clipping while improving shadow detail in complex lighting environments [4] Group 3: Intelligent Interaction and Future Potential - DPVR AI Glasses leverage Baidu's intelligent cloud platform and the DeepSeek-R1/V3 series models, enabling powerful computational scheduling and multi-modal processing capabilities [6] - Future functionalities may include intelligent scene recognition and image optimization suggestions, transforming the device from a mere photography tool into an intelligent partner that understands user needs [6] - The innovative soft and hard collaborative optimization paradigm introduced by DPVR is poised to redefine the technical standards for smart wearable devices, potentially ushering in a new era of intelligent image creation [6]

Investment Rating - The report recommends a focus on investment in companies such as Jing Sheng Mechanical & Electrical and Tian Yue Advanced [2]. Core Insights - AR glasses are seen as the perfect carrier for AI applications, combining virtual and real-world elements. The global shipment of AR glasses is expected to reach 553,000 units in 2024, a year-on-year increase of 7.8%, with China accounting for 286,000 units [2][11][17]. - The optical display system is the core component of AR glasses, comprising optical combiners and micro-displays, which account for over 40% of the total cost [2][26]. - The surface relief grating waveguide (SRG) is identified as the future mainstream trend for AR glasses' optical display systems, offering controllable manufacturing costs and excellent optical performance [2][57]. - Silicon carbide (SiC) materials are highlighted as ideal substrates for AR glasses due to their high refractive index and thermal conductivity, enabling a field of view (FOV) of over 80 degrees with a single-layer SiC lens [2][66]. - The need for semi-insulating SiC substrates is emphasized, with a focus on achieving mass production of 12-inch substrates to reduce costs significantly [2][63]. Summary by Sections Section 1: AR Glasses and Their Market - AR glasses are defined as smart wearable devices that overlay virtual information onto the real world, enhancing user experience [5][10]. - The market for AR glasses is expected to peak in 2024, with significant improvements in portability, functionality, and technology [17][18]. Section 2: Optical Waveguide Structures - The report discusses various optical waveguide structures, with SRG being the most suitable for mass production due to its manufacturing feasibility and optical performance [57][58]. - The advantages of SiC in optical waveguide applications include the ability to reduce color separation and improve thermal management, which is crucial for AR glasses' performance [70][71]. Section 3: Silicon Carbide Materials - SiC materials are noted for their high refractive index, which enhances the FOV and mitigates issues like rainbow patterns in optical waveguides [66][70]. - The report emphasizes the importance of achieving large-size SiC substrates to lower production costs and facilitate the entry of AR glasses into the consumer market [2][63].

证券时报记者梁谦刚 今年以来，人工智能（AI）眼镜迅速从概念走向现实，成为消费市场的新宠。 亿道信息致力于提供一个高全接口、多GPIO、解构CPU的开发平台，可以加速AI眼镜创新产品的孵化 与落地。 佳禾智能作为较早一批进入智能眼镜市场的企业，已经具备从设计到生产全产业链的整合能力，智能眼 镜是公司目前重点培育的业务之一。 麦捷科技的产品可广泛应用于消费电子领域，目前已有部分电感产品应用于AI眼镜。 蓝思科技与灵伴科技达成深度战略合作，作为其全系AI眼镜的整机组装合作伙伴，覆盖镜架、镜片、 功能模组到全自动组装的全链条生产。 业绩数据方面，根据目前披露的年报、业绩快报、预告净利润下限（无下限则取公告数值）计算，2024 年净利润同比增长（含扭亏为盈）的AI眼镜概念股有15只。3只个股净利润扭亏为盈，分别是江波龙、 佰维存储、弘信电子。 面对这一高景气赛道，不少品牌纷纷发力，密集发布智能眼镜相关产品。Rokid、Snap、百度、雷鸟创 新、XREAL等品牌不断推陈出新，为消费者带来了功能多样、设计新颖的AI眼镜产品。与此同时，三 星、OPPO、华为、腾讯、字节跳动等公司也在积极布局AI眼镜项目，试图抢占这一新兴 ...

Core Viewpoint - The article discusses the rapid development and potential of the smart wearables industry, highlighting the integration of advanced technologies and the increasing application scenarios in health monitoring, fitness tracking, and smart home environments [4][10]. Industry Definition - Smart wearables are defined as electronic devices embedded in everyday items that utilize sensors, wireless communication, and AI to provide health monitoring, activity tracking, and information interaction [4]. Recent Developments - The "Implementation Plan for Digital Transformation in Light Industry" emphasizes the promotion of AI applications in various sectors, including smart wearables, indicating a strong governmental push towards the industry's growth [4]. Product Categories - Smart wearables can be categorized into wrist-worn, head-worn, eyewear, clothing, footwear, and patch devices, each with distinct development paths based on usage scenarios and technological focus [5][6]. Key Technologies - The development of smart wearables relies on four core technological paths: multi-dimensional sensing and integration, low-power computing and edge processing, wireless communication and connectivity, and flexible electronics and ergonomic design [6][7]. Industry Chain - The smart wearables industry chain includes upstream suppliers of key components (sensors, chips, communication modules), midstream manufacturers focusing on device design and system integration, and downstream application providers offering sales channels and value-added services [8][9]. Market Trends - The financing landscape for smart wearables has seen a decline since 2021, with a peak of 35 financing events that year, followed by a drop to 11 events by 2024, indicating a market adjustment phase [10]. Notable Companies - Zhige Technology focuses on AR diffraction waveguide technology and has established a fully automated production line, achieving significant production capacity [12][13]. - Rokid specializes in AR glasses and has developed a complete product ecosystem based on its YodaOS operating system, with multiple product launches and significant financing rounds [14][15]. - Thunderbird Innovation aims to create a top-tier consumer AR ecosystem, having launched several AR products and completed substantial financing rounds for technology development [16][17]. Recent Innovations - The article highlights several recent innovations in the smart wearables space, including lightweight AI glasses from Skyworth, non-invasive blood glucose monitoring technology from Apple, and a battery-powered wearable transcranial magnetic stimulation device from the Chinese Academy of Sciences [19][20][21].

一场双向奔赴。 作者 I 杨文静 报道 I 投资界PEdaily 大湾区创投圈更热闹了。 最新一幕是3月2 8日，前海深港青年梦工场基金（简称"梦工场基金"）宣布首批出资——基金管理方弘毅投资与两家子基金管理机构、 以及两家落地前海梦工场的初创企业签约。 这是深港联手培育大湾区科创生态的新尝试。弘毅投资总裁曹永刚透露，梦工场基金不仅提供资金，更将依托弘毅投资成长型企业和并 购的经验，利用积累的头部企业和链主企业资源为投资项目构建产业生态圈，打造大湾区早期科创生态崭新一幕。 一幅深港融合的蓝图正在徐徐铺开。 一次新尝试 一切要追溯到一年前。 彼时，前海管理局提出打造梦工场" 1 5 1 0 "发展模式，为香港青年在创新创业领域提供支持，其中就包括出资组建一支基金，直面港企 港人创新创业最关键、最迫切需求。 以"前海所有"，应"香港所需" ——梦工场基金肩负着这样的使命应运而生。 经过遴选，梦工场基金最终选定与前海有着深厚渊源、且兼具产融结合背景的弘毅投资作为管理人。今年2月，梦工场基金正式成立， 首期规模5亿元，主要由前海产业引导基金出资， 近期也会在香港发行一只母基金。 投资界了解到，这是弘毅投资管理的第一支 ...

园山品牌LOHO联合闪极推出的AI"拍拍镜"。 眼镜也可以成为你的"私人助理"!只需语音唤醒，就能随时用第一视角拍摄照片和视频；即便是几天前 的会议记录，一句话的事儿就可以让其轻松整理；遇到看不懂的外文，让眼镜即时翻译，同步播报给 你；到了陌生地方不知道有啥好吃的，问眼镜就行……这款产自龙岗园山的AI智能"拍拍镜"，自去年12 月发布，就迅速火爆，几分钟内便订出去5万副。经过3个多月的调试，近日，这款聪明的眼镜将开放线 下门店体验。园山是深圳眼镜产业生产制造聚集地。种种迹象表明，自2024年开始，这里的眼镜制造厂 商正加速冲上AI赛道。凭借超前的眼光和深厚的产业基础，园山眼镜企业将在AI眼镜的蓝海里闯出一 片天。 首款量产AI眼镜产自园山 LOHO是国内眼镜快时尚头部品牌。上文提到的AI智能"拍拍镜"，就是由LOHO与国内储能明星企业闪 极科技联合发布。这款眼镜，也被认为是首款量产的AI眼镜。 50克的重量，30多克的体感重量，看起来并不算粗的镜框，让这副"很有内涵"的智能眼镜看起来跟普通 眼镜区别不大。LOHO创始人黄心仲介绍，现在市面上发布的AI眼镜数量不少，能够实现的功能也很 多，但为什么没有流行起来， ...