Group 1 - Meta has acquired nearly 3% of Essilor's shares for approximately €3 billion (about ¥25.2 billion) and may consider increasing its stake to around 5% [1] - The investment reflects the importance of lens manufacturers in the smart glasses supply chain, as lenses are the only non-standard component in smart glasses [1] - The lens industry has high profit margins, and customized lens solutions for smart glasses are expected to further enhance the pricing power of lens companies [1] Group 2 - The industry is experiencing significant catalysts, with new product launches from companies like Oakley and Xiaomi, and upcoming releases from Meta [2] - The company anticipates a more than 30% year-on-year increase in net profit due to strong sales of high-refractive index and functional products [2] - The company is expanding its global production capacity, with a customized lens production line in Japan expected to be operational by July 31, which may mitigate potential tariff risks [2] Group 3 - The company has partnered with several leading 3C brands to develop smart glasses, with support from its second-largest shareholder, GoerTek, validating its R&D and delivery capabilities [3] - Projected net profits for the company are estimated to be ¥560 million, ¥700 million, and ¥860 million for the years 2025-2027, with corresponding PE ratios of 31, 25, and 20 [3] - A target price of HK$54.5 is set for 2026 based on a relative valuation method, maintaining a "strong buy" rating [3]