Core Viewpoint - Hongjing Optoelectronics experienced a decline of 1.84% on November 20, with a trading volume of 38.86 million yuan, indicating a potential market reaction to recent financial data and stock performance [1] Financing Summary - On November 20, Hongjing Optoelectronics had a financing buy-in amount of 3.67 million yuan, with a net financing buy of 1.30 million yuan after 2.37 million yuan in financing repayments [1] - The total financing and securities balance for Hongjing Optoelectronics reached 154 million yuan, accounting for 8.76% of its circulating market value [1] - There were no securities sold or repaid on that day, with a remaining securities balance of 0.00 shares [1] Company Overview - Hongjing Optoelectronics, established on August 14, 2012, is located in Zhongshan, Guangdong Province, and specializes in the research, design, production, and sales of optical lenses and camera module products [1] - The company's revenue composition includes 56.87% from emerging consumer camera modules, 23.14% from emerging consumer optical lenses, 18.16% from smart automotive optical lenses, and smaller contributions from other segments [1] Financial Performance - As of September 30, the number of shareholders for Hongjing Optoelectronics was 13,300, a decrease of 25.58% from the previous period, while the average circulating shares per person increased by 41.92% to 1,584 shares [2] - For the period from January to September 2025, the company reported a revenue of 1.20 billion yuan and a net profit attributable to shareholders of 142 million yuan, reflecting a year-on-year growth of 12.19% [2] - Since its A-share listing, Hongjing Optoelectronics has distributed a total of 95.32 million yuan in dividends [2] Institutional Holdings - As of September 30, 2025, the eighth largest circulating shareholder of Hongjing Optoelectronics is Yuanxin Yongfeng Xingnuo, holding 105,500 shares, which is a decrease of 101,800 shares from the previous period [2] - Two funds, Zhongyou Information Industry Flexible Allocation Mixed A and Yongying Growth Navigation Mixed A, have exited the list of the top ten circulating shareholders [2]

为了进一步与中国发展"同频共振"，成为中国市场发展的"共建者"，蔡司正在加大对华投资。记者了解到，2024年，蔡司 苏州研发制造基地正式启用，至今已下线了多款产品；今年，蔡司还将在上海购置土地，建设蔡司大中华区总部综合园 区。"这是迄今为止蔡司在华的最大单笔基建投资。新园区将进一步提升我们服务本地客户的能力与响应速度，并将作为全球 创新中心，助力中国创新生态蓬勃发展。"费铭远强调称。 本报记者 金婉霞 第八届中国国际进口博览会（以下简称"进博会"）正在上海召开。作为光学与光电领域引领者，蔡司连续第八年亮相进博 会。日前，在进博会现场，蔡司大中华区总裁兼首席执行官费铭远在接受记者采访时表示，中国拥有庞大的市场、开放的营商 环境、利好的政策、充沛的人才与资源，以及发达的供应链体系。"这一独特的优势组合，使中国成为理想的商业目的地。中 国已是蔡司全球最大的单一市场，其重要性还在不断加强。"费铭远称，"我们将不断加大在华投资力度，扩大本土布局，与国 家战略同频共振。" 资料显示，蔡司是中国市场不断向新发展的参与者与见证者。1957年，蔡司进入中国市场，当时正值中国实施首个五年规 划；2021年起，中国成为蔡司在全球最 ...

Core Viewpoint - Hongjing Optoelectronics announced on October 31 that its optical lens and camera module production is expected to increase year-on-year in the first half of 2025, with a significant rise in camera module output, exceeding an 80% increase compared to the previous year [1] Group 1 - The company reported a substantial increase in camera module production, with a year-on-year growth rate of over 80% [1] - In the third quarter, the company expanded the implementation location of its fundraising project "Optical Lens and Module Capacity Expansion Project," accelerating capacity release [1]

Core Viewpoint - Hongjing Optoelectronics announced its capability in mastering core technologies and production processes for optical lenses and camera modules, providing integrated solutions for major clients [1] Group 1 - The company has developed customized production equipment for specific products of major clients, enhancing its service offerings [1] - Hongjing Optoelectronics is committed to continuous collaboration with clients in research, design, and manufacturing improvements [1] - The company is actively exploring cutting-edge fields and reserving relevant core technologies for future advancements [1]

Core Insights - Hongjing Optoelectronics experienced a slight increase of 0.01% in stock price on October 28, with a trading volume of 82.67 million yuan [1] - The company reported a net financing purchase of 1.83 million yuan on the same day, with a total financing and securities balance of 173 million yuan [1][2] - As of September 30, 2025, the company achieved a revenue of 1.198 billion yuan and a net profit of 142 million yuan, marking a year-on-year growth of 12.19% [2] Financing and Trading Activity - On October 28, Hongjing Optoelectronics had a financing purchase of 8.44 million yuan, with a current financing balance of 173 million yuan, representing 8.70% of the circulating market value [1] - There were no short selling activities reported on the same day, with a short selling balance of 0 [1] Company Profile and Business Segments - Hongjing Optoelectronics, established on August 14, 2012, is located in Zhongshan, Guangdong Province, and specializes in the research, design, production, and sales of optical lenses and camera module products [1] - The revenue composition of the company includes emerging consumer camera modules (56.87%), emerging consumer optical lenses (23.14%), smart automotive optical lenses (18.16%), and other segments [1]

本文讨论了AR眼镜中LCoS照明光源的选择和LCoS照明光路的设计准则，讨论了使用LED或者激光作为 照明光源的差异性。 LCoS（Liquid-Crystal-on-Silicon）的全称为硅基液晶，也就是在硅基底上铺液晶对光进行调制，可以看 出其与LCD（Liquid-Crystal-Display）同源，都是利用液晶对光的偏振态进行调制，然后利用偏振片达 到调制光的强度或相位的目的。下面为液晶改变光的偏振态的原理：液晶具有双折射的性质，也就是存 在快慢轴，液晶在快慢轴偏振方向的折射率不一致，经过液晶层之后，快慢轴方向就存在相位差，导致 光线偏振态发生变化，使得光线强度或者相位的变化。 虽然LCoS与LCD都是利用液晶调制，但是LCoS相对于LCD具有较大的优势如高能量利用率、高分辨 率、高对比度、色彩丰富、自然3D图像的生成等。综合以上的优势，LCoS可应用于高端的投影设备， 如需要高亮度、高对比度，AR/VR头显，需要小尺寸、高分辨率的场景。 在AR眼镜行业，显示源可以分为以下几种LCoS、DLP、OLED、Micro LED、LBS等。其中LCoS凭借 技术成熟、成本低等优势成为当前行业较为主流的选 ...

Core Viewpoint - 弘景光电 experienced a decline in stock price and negative net financing on October 17, 2023, while showing significant revenue growth in the first half of 2025 [1][2]. Group 1: Stock Performance - On October 17, 弘景光电's stock fell by 4.04%, with a trading volume of 76.60 million yuan [1]. - The financing buy-in amount for 弘景光电 on the same day was 5.09 million yuan, while the financing repayment was 10.14 million yuan, resulting in a net financing outflow of 5.05 million yuan [1]. - As of October 17, the total margin balance for 弘景光电 was 165 million yuan, accounting for 9.02% of its market capitalization [1]. Group 2: Financial Performance - For the period from January to June 2025, 弘景光电 achieved a revenue of 701 million yuan, representing a year-on-year growth of 55.72% [2]. - The net profit attributable to the parent company for the same period was 75.52 million yuan, reflecting a year-on-year increase of 10.22% [2]. Group 3: Shareholder Information - As of June 30, 2025, 弘景光电 had 17,800 shareholders, a decrease of 0.76% from the previous period [2]. - The average number of circulating shares per shareholder increased by 41.08% to 1,116 shares [2]. - Cumulative cash dividends paid by 弘景光电 since its A-share listing amounted to 95.32 million yuan [3].

Core Viewpoint - The company focuses on two main areas: optics and intelligent control, with its business primarily involving the research, manufacturing, and sales of optical and intelligent control products, and it currently does not engage in the production of high-end lithography optical lenses [1] Group 1 - The company is concentrated on the fields of optics and intelligent control [1] - The business activities include research, manufacturing, and sales of optical and intelligent control products [1] - The company has not ventured into high-end lithography optical lenses [1]

Core Viewpoint - 弘景光电 shows a mixed performance in financing activities and financial results, with significant growth in revenue but a slight decline in net buying from margin trading [1][2]. Financing Activities - On September 24, 弘景光电 had a financing buy amount of 21.84 million yuan and a financing repayment of 24.01 million yuan, resulting in a net financing buy of -2.18 million yuan [1]. - The total margin trading balance for 弘景光电 as of September 24 is 185 million yuan, which accounts for 8.88% of its market capitalization [1]. - There were no shares sold or repaid in the securities lending segment on the same day, indicating no activity in this area [1]. Financial Performance - For the first half of 2025, 弘景光电 reported a revenue of 701 million yuan, representing a year-on-year growth of 55.72% [2]. - The net profit attributable to the parent company for the same period was 75.52 million yuan, showing a year-on-year increase of 10.22% [2]. Shareholder Information - As of June 30, 2025, 弘景光电 had 17,800 shareholders, a decrease of 0.76% from the previous period [2]. - The average number of circulating shares per shareholder increased by 41.08% to 1,116 shares [2]. - The company has distributed a total of 95.32 million yuan in dividends since its A-share listing [3]. Institutional Holdings - As of June 30, 2025, 中邮信息产业灵活配置混合A is the second-largest circulating shareholder with 226,900 shares, marking it as a new shareholder [3]. - 圆信永丰兴诺 and 永赢成长领航混合A are also new shareholders, holding 207,300 shares and 97,700 shares respectively [3].

Group 1: Investor Relations Activity Overview - The investor relations activity was part of the 2025 Guangdong Listed Companies Online Collective Reception Day [2] - The event took place on September 19, 2025, from 15:30 to 17:00 [2] - Participants included the Chairman, General Manager, Vice General Manager, and Financial Officer of the company [2] Group 2: Key Investor Inquiries and Responses - Inquiry about the company's selection as a Huawei supplier; the company advised to check official disclosures for updates [2] - The company's revenue from automotive-related and automotive parts businesses was reported as CNY 163.58 million and CNY 98.66 million, respectively [2] - The company confirmed that the upcoming private placement project includes the "Automotive Optical Production Project" [2] Group 3: Future Performance and Updates - The company indicated that the third quarter's business operations are proceeding normally, with performance details to be disclosed in future reports [2] - The private placement project is actively progressing, with specific updates to be provided in subsequent announcements [2]