Group 1: Export Growth and Market Expansion - The largest land port for automobile exports in China, Horgos, is experiencing a surge in vehicle exports, with daily long queues for customs checks [1] - Jiangsu Doremi Automotive Technology Co., Ltd. reported sales of 98 million yuan last year, with expectations to exceed 120 million yuan this year, highlighting Central Asia as a new growth point [1] - In the first five months of this year, the total import and export value of Zhenjiang reached 43.62 billion yuan, a historical high for the same period, with a year-on-year growth of 5.5% [1] Group 2: Innovation and Product Development - Jiangsu Wode Agricultural Machinery Co., Ltd. achieved overseas sales of 1.25 billion yuan from January to May, a 34% increase year-on-year, driven by product innovation [2] - The company has developed products tailored for international markets, including palm harvesting machines for Southeast Asia [2] - Zhenjiang Shipyard Group signed contracts for eight deep-water anchor handling vessels and one of the largest sulfur transport vessels, with delivery dates extending to 2028 [2] Group 3: Cross-Border E-commerce and New Business Models - Zhenjiang has established a cross-border e-commerce platform to enhance trade capabilities, with over 850 cross-border e-commerce companies formed in the region [5] - The city is focusing on developing nine cross-border e-commerce industrial belts, including hardware tools and automotive parts [5] - Zhenjiang Jinzhitai Textile Co., Ltd. has expanded its market reach beyond the U.S. to Japan, Australia, and Europe, achieving over 20% growth in non-U.S. markets [4] Group 4: Policy Support and Trade Facilitation - The RCEP agreement has provided tariff reductions, enhancing the competitiveness of Zhenjiang's products in markets like Japan and Southeast Asia, with a 20% increase in orders for certain products [6] - Zhenjiang Customs is actively guiding companies to utilize policy benefits, improving export clearance efficiency through tailored services [6] - The city is promoting online sales of foreign trade products, facilitating connections between local exporters and e-commerce platforms [6]

Overview - The eyewear industry is rapidly evolving towards diversification and upgrading, with a clear trend towards specialization and scale [1] - The transition from basic functionality to comfort experience is driven by technological innovations and new materials, leading to lightweight and comfortable eyewear [1][6] - Increased eye strain among residents has made comfort a necessity, with diverse usage scenarios prompting product segmentation based on application [3][6] Consumer Behavior - Near-sighted individuals commonly wear frame glasses, with a trend towards owning multiple pairs based on different scenarios [11][13] - Comfort is a universal demand among near-sighted individuals, with varying focus points depending on the usage context [11][22] - Consumers typically discover eyewear products through social media and make purchases in physical stores, with comfort being the primary decision factor [24][30] Market Trends - The eyewear retail market is expected to reach a scale of 94.4 billion yuan in 2024, with sustained high growth in retail sales driven by increased consumer awareness of vision health [6][8] - The eyewear industry is entering a high-quality development phase, with brands focusing on consumer demands and continuously upgrading products [6][8] Product Design - The comfort eyewear standard includes six core elements: overall design, local design, weight, material, style, and color [1][39] - Brands like Palimon emphasize "lighter and more comfortable" eyewear through a combination of comfort design, materials, and aesthetic color [1][38] - The design of comfortable eyewear must consider overall and local design, material, weight, style, and color to meet consumer needs [39][42] Consumer Preferences - Consumers prioritize product features, followed by reputation and brand when selecting eyewear, with comfort being the foremost concern during the purchasing decision [27][30] - The demand for comfortable eyewear reflects a composite requirement for lightweight, stability, and material safety [32][36] - Different demographics have varying discomfort experiences, with Gen Z focusing on pain and stability, while middle-aged consumers are sensitive to frame wear and facial marks [20][22] Marketing Innovation - Brands are leveraging product upgrades and innovative marketing strategies to drive growth, focusing on precise adaptation to consumer needs [44][45] - Consumers are becoming more rational in their purchasing decisions, selectively paying for marketing content that aligns with their preferences and needs [47]

Core Insights - The event "Great Craftsman Mutual Employment and Sharing" in Taizhou, Zhejiang, aims to promote common prosperity and innovation in the eyewear industry, highlighting the need for the industry to evolve from OEM to building its own brand influence [1][2]. Group 1: Industry Transformation - The eyewear industry in Taizhou has historically been an OEM powerhouse but struggles with brand recognition and profitability, relying on low-end profits from the supply chain [1]. - Upgrading to intelligent manufacturing is essential for overcoming current challenges and enhancing competitiveness in the global market [1]. - The establishment of the Taizhou Eyewear Industry Innovation Alliance aims to integrate technology and innovation, focusing on AI to drive industry upgrades and explore new development paths [2]. Group 2: Talent Development - A new talent-sharing mechanism is being implemented to address the talent shortage in the eyewear industry, linking enterprises with educational institutions and experts [3]. - The initiative has already facilitated partnerships between 22 "shared talent officials" and 30 companies, resulting in cost savings exceeding 9 million yuan [3]. Group 3: Industry Ecosystem - The Duqiao Town in Taizhou has developed a complete industrial chain encompassing R&D, design, production, and sales, positioning itself as a "super factory" for the global eyewear industry [4]. - The town produces 30% of the country's sunglasses lenses and 25% of sunglasses, showcasing its significant role in the national market [4]. - Future plans include leveraging traditional manufacturing strengths to drive innovation in smart optics and establishing platforms for advanced technologies like AR/VR and wearable health monitoring devices [4].

运动达人的装备已经从手表、服饰、鞋子，开始卷到了运动眼镜。 在小红书上，运动眼镜话题的浏览量超过两千多万，其中的帖子内容早已超出最初的户外运动，延展到了骑行、跑步、篮球、羽毛球等各个赛道，成为各 项运动中都不可或缺的装备之一。 一众运动员和明星如汪顺、周琦，以及黄景瑜、王一博等等在日常穿搭中对运动眼镜的偏爱，更进一步证明了这个新晋单品的热度。 黄景瑜佩戴运动眼镜 对同样爱时髦的运动人来说，眼镜是穿搭的点睛之笔。 在时尚完成度主要靠脸的当下，戴上墨镜可以直接弥补没有化妆的疲惫、运动到极限的脸部肌肉代偿，或是还不熟练的拍照表情管理。而在不同颜色的高 级镭射光面之下，哪怕是拼多多冲锋衣也看起来像是户外老炮的松弛。 当然，审美层面之外，运动眼镜的功能性也被越发重视。对户外人来说，眼镜是阻挡紫外线和强光的重要装备，不同的颜色也往往拥有不同的功效。而对 篮球、羽毛球爱好者，其也可以防止被一球爆头伤到眼睛的危险。 随着运动眼镜市场的勃发，品牌们已经从镜片技术卷到了智能眼镜。近日，Oakley与Meta 已正式达成合作，共同开发智能眼镜产品。小米也在上周发布 旗下首款1999元智能眼镜，可实现一键变色、骑行视频录制、AI识别 ...

Core Insights - The 2025 Shenzhen International Optical Industry Expo and Smart Wearable Exhibition showcased innovative smart glasses, highlighting the strength of the optical technology and smart wearable sectors [1][2][8] Industry Overview - The event attracted 112 exhibitors from over 20 countries, emphasizing the global interest in the optical and smart wearable industries [1] - The exhibition featured a special display on the 45-year development history of the Longgang eyewear industry, illustrating its evolution from manufacturing to intelligent production [9] Product Innovations - The "Snap Mirror," the first mass-produced AI glasses in China, integrates AI voice assistance, photography, recording, translation, and object recognition, weighing only 50g but feeling like 30g when worn [2] - The "Chain Boundary" smart glasses, developed in collaboration with Huawei, feature the HarmonyOS and provide health tips, call answering, and information broadcasting while ensuring comfort [4] - The Bluetooth smart glasses series from Price Technology, also in partnership with Huawei, offer customizable frames and a unique sound distribution system for enhanced auditory comfort [6] Regional Development - Over 80% of Shenzhen's eyewear manufacturing companies are located in the Yuanshan Street area, which has become a significant production base for global eyewear brands, exporting to over 120 countries [11] - The Yuanshan Eyewear Intelligent Manufacturing Industrial Park is the first "industrial building" project in the eyewear sector, boasting a nearly 70% occupancy rate and housing leading companies [11] - The area is positioned as a hub for innovation, with a complete industrial chain from raw materials to R&D, design, production, and sales [11][12]

Group 1 - The 2025 Shenzhen International Optical Expo opened on June 25, attracting over 200 exhibitors from more than 20 countries and over 30,000 professional visitors [1] - The exhibition covers an area of 15,000 square meters and is divided into nine themed zones, showcasing the entire industry chain [1] - The event features a special exhibition on the 45-year development history of the Longgang eyewear industry, highlighting its evolution from traditional to smart eyewear [1] Group 2 - Lohas Group showcased its first mass-produced AI smart glasses, "Paipai Mirror A1," which integrates multiple functions such as photography, video recording, and translation [2] - RayNeo, a leading AR brand, presented new AR glasses that achieved a market share of 52% during the recent "618" sales event [2] - The 2025 Shenzhen International Eyewear Design Competition announced its winners, aiming to discover and cultivate outstanding eyewear design talent [2] Group 3 - Shenzhen's eyewear industry has developed a complete industrial chain and rich resources over 40 years, actively embracing technological innovation for smart transformation [3]

Group 1 - Chinese Premier Li Qiang expressed that China will continue to welcome foreign enterprises to invest and operate in the country, aiming for mutual benefits and technological cooperation [1] - Vice Premier He Lifeng emphasized the need to expand domestic demand and boost consumption to promote high-quality economic development, while also exploring new models for real estate development [2] - Shenzhen's municipal government announced measures to gradually relax or eliminate restrictions on service trade under cross-border delivery and overseas consumption models, aiming to enhance the service sector's openness [3] Group 2 - Chen Guo, Chief Strategist at Dongfang Wealth Securities, indicated that the revaluation of Chinese assets has just begun, driven by the stability of the RMB and the acceleration of the engineer dividend [4] - Guotai Junan International received approval from the Hong Kong Securities and Futures Commission to upgrade its existing securities trading license to include virtual asset trading services, leading to a significant surge in its stock price [5] - A surge in foreign investment interest was noted, with many foreign institutions focusing on companies in the electronics, machinery, computer, and automotive sectors, reflecting optimism for the Chinese stock market in the medium to long term [6] Group 3 - Xiaomi is set to unveil its first AI glasses, joining other tech giants like Meta, Apple, and Samsung in the growing market, which is projected to reach nearly 300 million units and over 190 billion yuan [12] - The low-altitude economy is gaining attention, with Chengdu introducing policies to support its development [12] - AI medical imaging has made breakthroughs, enabling the early detection of stomach cancer up to 10 months in advance [16]

Core Viewpoint - The stock price of Mingyue Lens (301101.SZ) surged by 10% on June 23, reflecting strong market interest, particularly in the context of AI-related products and smart glasses [1][2]. Company Performance - Mingyue Lens has seen its stock price double over the past year, driven by its positioning as a key player in the AI glasses market [1][2]. - The company reported a net profit of 47.15 million yuan in Q1, marking an 11.70% year-on-year increase, with total revenue reaching 197 million yuan, a 2.63% increase [5][6]. - From 2021 to 2024, the company has consistently achieved revenue and net profit growth, with revenues of 5.76 billion yuan in 2021 and projected 7.70 billion yuan in 2024, reflecting a compound annual growth rate [7][8]. Market Position - Mingyue Lens is recognized as a leading domestic optical lens manufacturer, holding a 12.4% market share in the Chinese lens market as of 2024, and has been the top-selling brand for nine consecutive years [11][12]. - The company has established a strong international presence, with products sold in the US, Japan, Italy, and Singapore, and has set up an international business headquarters in Singapore [3][12]. Financial Health - The company has maintained a stable gross margin above 50% since 2019, with a projected gross margin of 58.56% for 2024 and 58.42% in Q1 of this year [3][9]. - The net profit margin has also shown significant improvement, increasing from 8.21% in 2018 to 24.40% in 2024, with a Q1 net profit margin of 25.13% [10]. Shareholder Returns - Mingyue Lens has actively returned value to shareholders, distributing a total of 272 million yuan in dividends over four years, with an average dividend payout ratio of 45.37% [4]. Innovation and R&D - The company has invested in R&D, collaborating with renowned optical experts and establishing a technology center, leading to several patented innovations in lens technology [12][13]. - Mingyue Lens has developed advanced materials and products, including the KR ultra-tough lens and PMC ultra-bright lens, enhancing its competitive edge in the market [12][13]. Strategic Focus - The company is strategically positioning itself in the AI glasses market, engaging with 3C brands for customized lens solutions, which is expected to drive future growth [13].

华福证券 轻工制造 2025 年 06 月 22 日 轻工制造 AI 眼镜关注新品催化，优质白马进入价值区间 投资要点： 【周观点】本周 Meta 公布与依视路合作打造的下一代智能眼镜，近期 AI 眼镜新品催化不断，建议关注明月镜片、康耐特光学、博士眼镜、英派斯； 5 月我国塑料餐具、保温杯、化纤制充气褥垫等细分品类出口受关税影响 同比均有下滑，同时 5 月越南商品出口额同比+17%，看好海外产能布局领 先的出口企业，出口链持续推荐众鑫股份；近期随市场情绪回调，多数白 马已处于价值布局区间，建议关注太阳纸业、晨光股份、裕同科技。 ➢ 3）轻工消费：①6 月 20 日，Meta 公布与依视路合作打造的下一代 智能眼镜——Oakley Meta Glasses。相较于 2023 年推出的 Ray- Ban Meta，Oakley Meta 在电池续航和视频拍摄分辨率方面实现了 显著提升。近期 AI 眼镜新品陆续发布，产业催化不断，建议关注明 月镜片、康耐特光学、博士眼镜、英派斯等。②据星图数据发布的 618 全网销售数据解读，5 月 13 日-6 月 18 日全网综合电商销售总 额达到 8556 亿元，同比去年大 ...

Core Insights - The opening of the first Alibaba International Station selection center in Taizhou marks a significant boost for the city's cross-border e-commerce development [1][3] - The center aims to support local manufacturing in expanding globally and to act as an incubator for cross-border e-commerce [1][3] Group 1: Economic Impact - Taizhou's export value reached 110.64 billion yuan from January to May this year, reflecting a year-on-year growth of 13.8% [3] - Cross-border e-commerce exports amounted to 10.53 billion yuan during the same period, showing a remarkable year-on-year increase of 67.8% [3] - In May alone, cross-border e-commerce exports hit 2.89 billion yuan, marking a staggering year-on-year growth of 260% [3] Group 2: Strategic Initiatives - The Alibaba International Station will leverage its digital capabilities and resource integration to help local businesses address challenges such as intensified competition and profit compression [3] - The center is expected to activate key industries in Taizhou, including home storage, pumps, eyewear, and pet products, with plans to gather over 6,000 products and more than 800 suppliers [3] - The center will provide comprehensive support for businesses, including market expansion, AI-driven product selection, and brand premium assurance [3] Group 3: Infrastructure Development - The newly opened Xin Hai International Cross-Border E-Commerce Industrial Park will complement the selection center, aiming to become a leading hub for cross-border e-commerce in southeastern Zhejiang [6] - The park will offer a one-stop service covering overseas exhibitions, warehousing logistics, legal and tax services, intellectual property, and finance [6] - It will integrate resources from government, academia, and enterprises to create a robust training ecosystem for cross-border e-commerce [6]