Core Insights - JBD has completed a B2 round financing exceeding 1 billion yuan, setting a record for single financing in the global MicroLED micro-display sector [1] - The funding will accelerate JBD's innovation in MicroLED technology and product iteration, aiming to build a consumer-grade AR ecosystem [1][8] - JBD has established a comprehensive technology system around MicroLED micro-displays, positioning itself as a leader in the industry [1][6] Financing Details - The financing round was led by Chaos Investment and CITIC Jinshi, with participation from various investors including CITIC Securities International Capital and Lightspeed [1] - This investment reflects a strategic focus on cutting-edge technology and leading companies in the industry [8] Product Innovations - JBD launched the "Hummingbird II" color light engine, which is compact and lightweight, enhancing the design flexibility of AR glasses [5] - The new "Zou Juan" MicroLED micro-display platform features a pixel pitch of 2.5 micrometers, significantly increasing pixel density to 10160 PPI [5][6] - Innovations in the platform have improved luminous efficiency and reduced power consumption, contributing to longer battery life for AR devices [6] Market Position and Future Outlook - JBD's MicroLED products are already integrated into nearly 50 smart glasses, including models from well-known brands like Rokid and Alibaba [6] - The company has received mass production orders from international tech giants, indicating strong market demand [6] - JBD is recognized as a leading company in the AR glasses MicroLED sector, with a robust competitive advantage and deep industry insights [7][8]

Core Insights - JBD has completed a record-breaking B2 round financing exceeding 1 billion yuan, marking the largest single financing in the global MicroLED micro-display sector [1] - The funding will accelerate JBD's innovation in MicroLED technology and product iteration, as well as promote the construction of a consumer-grade AR ecosystem [1][3] - JBD has established a comprehensive technical system around MicroLED micro-display panels, positioning itself as a leader in the industry [1][5] Company Overview - Founded in 2015, JBD focuses on MicroLED micro-display technology, aiming to provide innovative AR near-eye display solutions [1] - The company has developed the "Hummingbird II" color light engine, which is compact and lightweight, enhancing the design flexibility of AR glasses [5] - JBD's latest "Zou Juan" MicroLED micro-display platform achieves a pixel density of 10160 PPI, addressing efficiency challenges and reducing power consumption [5][7] Industry Trends - The integration of AI and AR is becoming a key driver for the next generation of smart terminals, with significant investments from hardware OEMs and internet giants [3] - MicroLED technology is recognized as a leading solution for AR glasses due to its high brightness, small size, and long battery life [3][7] - JBD's MicroLED products are already utilized in nearly 50 smart glasses, indicating strong market adoption and future growth potential [7] Investment Perspective - Investors view AR glasses as a crucial product in the AI development process, with JBD being a leading company in the MicroLED micro-display space [8][9] - JBD's established partnerships with top global clients and its ability to achieve large-scale production of MicroLED technology provide a significant competitive advantage [9] - The investment aligns with strategies to capture opportunities in cutting-edge technology and support JBD's leadership in the AR supply chain [9]