Group 1: Company Overview and Investor Relations - The company, Zhejiang Crystal Optoelectronics Technology Co., Ltd., is engaged in investor relations activities, including specific object research and investor visits [2] - The investor relations event took place on November 14, 2025, from 15:00 to 16:30 [2] - The event included a company showroom tour, an introduction to the company, and a Q&A session [2] Group 2: AR Glasses Product and Technology - The company has developed a comprehensive AR optical product system, including key components like waveguide plates and projection optical components [2][3] - Optical hardware accounts for 30%-50% of the total hardware cost of AR glasses, highlighting its core value [3] - The company is focusing on the mass production of reflective waveguide technology as a critical project for its growth in the AR metaverse sector [3] Group 3: Technology Development and Market Position - Reflective waveguide technology is favored for its advantages in resolution, clarity, color uniformity, and light efficiency [4] - The company acknowledges the global challenges in mass production of reflective waveguides, despite strong market demand for AR glasses [4][5] - Both reflective and diffractive waveguide technologies will continue to develop in parallel, catering to different product positioning and application scenarios [5] Group 4: Future Plans and Market Strategy - The company is in a critical phase of advancing its first project related to reflective waveguide production, with details to be disclosed when possible [6] - The company aims to enhance its market share in the automotive HUD sector, with plans for mass production of AR-HUD products expected next year [7] - The company is implementing a dual circulation strategy to stabilize its domestic and international business ratios amid global market uncertainties [7]