新光光电(688011)1月5日晚公告，公司于2025年12月31日召开第三届董事会第七次会议，审议通过了 《关于部分募集资金投资项目延期的议案》，综合考虑当前募集资金投资项目（以下简称"募投项目"） 的实施进度等因素，公司决定对部分募投项目达到预定可使用状态的日期进行延期，本次延期未改变募 投项目的内容、投资用途、投资总额和实施主体。 "本项目契合国防和军队现代化建设战略部署，顺应军工电子信息行业发展趋势，是公司满足未来市场 订单需求、提升批产响应能力的必要举措；公司核心技术领先、客户合作稳定、项目经验丰富，具备充 分实施条件，延期调整符合审慎经营原则，未改变项目核心要素，具备继续实施的必要性与可行 性。"新光光电介绍。 对于睿光航天光电设备研发生产项目延期的原因，新光光电表示，2020至2022年，受不可抗力因素影 响，一方面，工程建设施工人员无法及时按原定计划满员满时施工。另一方面，在可调配资源有限的前 提下，公司集中资源维持主营业务的正常开展，一定程度上延缓了该项目进度。近两年公司在激光领域 围绕轻小型激光防御系统研发了多款产品，并经过了大量的外场测试，验证了系统对小型无人机的跟踪 能力及毁伤效果，目 ...

Summary of Key Points from Conference Call Records Industry or Company Involved - **AI Glasses**: Multiple significant products are set to be released, including those from Meta and Xiaomi [2][15] - **Liquid Cooling**: National standards for liquid cooling are about to be published, indicating growth in this sector [3] - **Superconductors**: Shanghai Superconductor's IPO application has been accepted, aiming to raise 1.2 billion yuan for high-temperature superconducting materials [4][17] - **POE Particles**: Domestic production of POE particles is being initiated to replace imports [5][16] - **High-end PCB**: Companies like Zhongjing Electronics and Yihua New Materials are involved in high-end PCB production for various applications [6][10] - **Air Conditioning Components**: Shunwei Co. is a leading supplier of air conditioning fan blades, indirectly supplying Xiaomi [7][16] - **Laser Defense Systems**: New developments in lightweight laser defense systems are being tested [12][17] Core Points and Arguments - **AI Glasses Market**: - Meta plans to release new AI glasses with expected sales of 4-5 million units in 2025 [15] - Xiaomi's AI glasses are in small-scale production with projected sales of 300,000-500,000 units [15] - Companies like Biyi Co. and Lianchuang Optoelectronics are heavily involved in AR/VR technologies [15] - **Liquid Cooling Industry**: - The market for liquid cooling servers in China is projected to reach $16.2 billion by 2029, with a CAGR of 46.8% from 2024 to 2029 [3] - Current penetration in data centers is below 10%, indicating significant growth potential [3] - **Superconductors**: - Shanghai Superconductor holds over 80% market share in domestic high-temperature superconducting materials [17] - The company reported a revenue increase of 189% year-on-year, reaching 240 million yuan in 2024 [17] - **POE Particles**: - The domestic market for POE is expected to reach 50-60 billion yuan in 2025, with significant import substitution potential [16] - The company anticipates net profits of 0.5 billion yuan in 2025, increasing to 5.2 billion yuan by 2027 [16] - **High-end PCB**: - Companies are focusing on high-end applications in AI, VR, and gaming, with significant demand for flexible circuit boards [16] - The domestic high-end PCB market is experiencing rapid growth due to increased demand from tech companies [16] - **Air Conditioning Components**: - Shunwei Co. has a global market share of over 35% in plastic air conditioning fan blades [7] - The company is also involved in the low-altitude economy through partnerships in agricultural drone technology [16] Other Important but Possibly Overlooked Content - **Market Dynamics**: The AI glasses market is highly competitive, with major players like Meta and Xiaomi launching new products [15] - **Regulatory Environment**: The upcoming national standards for liquid cooling may streamline the industry and enhance growth prospects [3] - **Investment Opportunities**: Companies involved in superconductors and liquid cooling are positioned for significant growth due to technological advancements and market demand [4][3] - **Financial Performance**: Many companies are reporting substantial year-on-year growth, indicating a robust recovery and expansion in their respective sectors [17][16] This summary encapsulates the critical insights from the conference call records, highlighting the evolving landscape of various industries and the companies poised to benefit from these trends.