Group 1 - Global AR glasses sales are expected to reach 650,000 units in 2025, representing a 30% year-on-year growth, with AI+AR glasses using waveguide technology being the main growth driver [1] - In 2024, global AR sales are projected to be 500,000 units, with 112,000 units sold in Q1 2025, and a potential to exceed 1.5 million units by 2027 [1] - The AR near-eye display system includes various optical imaging modules, with diffractive waveguides emerging as the most promising optical solution due to their lightweight and high light transmittance [2] Group 2 - The SiC substrate industry is experiencing significant capacity expansion, particularly among Chinese companies, with local production expected to grow over 40% in 2024 [3] - The global SiC substrate market is highly concentrated, with four major companies—Wolfspeed, Tianke HeDa, TianYue Advanced, and High意科技—holding a combined market share of 82% [3] Group 3 - The AR glasses market is primarily driven by consumer penetration, with ongoing advancements in waveguide and micro-display technologies expected to lead to lightweight and cost-effective solutions [4] - Recommended companies in the AR industry include waveguide manufacturers such as GoerTek, Crystal Optoelectronics, Lante Optics, and SuDa WeiGe, as well as SiC manufacturers like Sanan Optoelectronics, JingSheng Mechanical and Electrical, and TianYue Advanced [4]