Core Viewpoint - The company, Goer, is aggressively investing in the AR/VR industry, aiming to capitalize on the emerging Micro-LED technology and reduce its reliance on Apple after past setbacks in the metaverse space [1][11][29]. Investment in AR/VR - Goer has invested $100 million (approximately 718.42 million RMB) in the UK Micro-LED company Plessey, marking its second significant investment in the AR/VR supply chain this year [1]. - The Micro-LED technology is viewed as a critical advancement for consumer-grade AR glasses, which Goer aims to leverage [1]. Lessons from the Metaverse - Goer faced challenges during the metaverse hype, particularly due to its role as a manufacturer for Meta's Oculus, which complicated its market position [2][7]. - The relationship with Pico, a competitor to Meta, added complexity to Goer's business dynamics, as it was both a supplier to Meta and a stakeholder in Pico [7][9]. Financial Performance and Risks - In 2021, revenue from Apple accounted for 42.5% of Goer's total revenue, highlighting its dependency on a single client [12]. - Goer's financial performance has been volatile, with a reported revenue of 98.574 billion RMB in 2023, a decline of 6.03% year-on-year, and a net profit drop of 37.8% [13]. Strategic Shift - Goer is shifting its focus from being a passive manufacturer to an active participant in product development, particularly through its partnership with Xiaomi, which allows for deeper involvement in product definition and innovation [26][25]. - The company is pursuing multiple R&D projects related to AR and AI glasses, indicating a strategic pivot towards these technologies [28]. Challenges Ahead - Despite the strategic shift towards AR, the technology remains immature, with high costs and technical challenges such as low yield rates and insufficient battery life [27]. - Goer has learned from past experiences with Pico and Apple, indicating a cautious yet determined approach to navigating the AR landscape [29].