"宁波膜智信息科技有限公司"为势银（TrendBank）唯一工商注册实体及收款账户 势银研究： 势银产业研究服务 势银数据： 势银数据产品服务 势银咨询： 势银咨询顾问服务 添加文末微信，加 电子玻璃 群 近年来，随着生活智能化需求的提升与沉浸式体验的发展， AR/VR技术已逐步渗透至教育、医 疗、娱乐、工业设计等生活中的方方面面，中国也将成长为全球AR/VR最重要的市场之一。 据相关数据数据预测， 2024-2029年中国AR/VR市场将以41.1%的CAGR保持高速增长 ，在 涨幅方面超越美国和西欧等其他八个区域，位列全球首位；而到2029年，中国 AR/VR总投资 规模将超过105亿美元，占全球 26.5%，市场体量仅次于美国。 且在软件方面，随着人工智能技术的不断发展， AR/VR设备也向着更智能化发展，场景识别及 内容生成更为精准，将更贴合用户的实际使用需求，带来更为个性化的体验；而轻薄化、高分 辨率、高刷新率、低功耗等将成为AR/VR设备硬件发展的主要方向。 近日， 舜宇奥来微纳光学（上海）有限公司（以下简称 "舜宇奥来"）临港项目首台核心光刻 机正式迁入 ，该项目建成达产后将形成年产数百万片半导 ...

Summary of Crystal Optoelectronics Conference Call Company Overview - **Company**: Crystal Optoelectronics - **Date**: April 11, 2025 - **Key Financials**: - Net profit growth rate exceeded sales growth by 48% - Gross margin reached 31.1%, up 3.3 percentage points year-on-year - Net profit margin at 16.4%, up 4.6 percentage points year-on-year - Revenue for 2024 was 6.3 billion RMB, a 24% year-on-year increase [2][3] Core Business Segments - **Revenue Breakdown**: - Optical components: 4.7 billion RMB, 18% increase, 47% of total revenue - Optical panels: 2.5 billion RMB, 34% increase, 40% of total revenue - Semiconductor optics: 100 million RMB, 20-fold increase, 2% of total revenue - Automotive electronics L3: 300 million RMB, 3-fold increase, 5% of total revenue - Reflective materials: 400 million RMB, 37-fold increase, 6% of total revenue [2][5] Market Position and Strategy - **Export and Market Reach**: - 75% of sales are exports, with less than 0.1% directly to the U.S., minimizing tariff impact - Major export markets include Taiwan, Singapore, Vietnam, and other East Asian countries [2][7][8] - **Future Growth Plans**: - Targeting 10% revenue growth in 2025 through customer relationship deepening, strategic business layout, and cost reduction [2][10] - Capital expenditure expected to be 10%-15% of revenue, focusing on new projects and headquarters development [10] Competitive Advantages - **Unique Market Position**: - Positioned uniquely in the global market with significant price advantages, breaking North American market monopolies [2][12][13] - **Technological Leadership**: - Committed to becoming a leader in the optical solutions for the metaverse, focusing on AR/VR and AI applications [20][45] Financial Performance and Profitability - **Profitability Metrics**: - Non-GAAP net profit increased by 83% year-on-year [2][5] - Gross margins improved across all business segments, with optical components at 36.3% and semiconductor optics at 40% [6] Risk Management and External Factors - **Impact of Tariffs**: - Minimal direct impact from U.S. tariffs due to low export volume; no significant order fluctuations reported from key clients [8][17] - **Response to Macro Uncertainty**: - Implementing structural adjustments and cost reduction strategies to enhance resilience against market volatility [15][47] Future Outlook - **Growth Projections**: - Anticipating continued growth driven by high-demand sectors such as consumer electronics and automotive [14][45] - **Investment in Innovation**: - Focused on R&D in AR optics and automotive HUD technologies, with plans for mass production in emerging markets [23][25][30] Shareholder Returns - **Dividend Plans**: - Proposed cash dividend of 2 RMB per ten shares, with no stock bonuses or capital increases [11] Conclusion - **Vision for the Future**: - Aiming to solidify its position as a global leader in optical solutions for the metaverse while maintaining strong relationships with major clients and adapting to market changes [45][48]