Group 1 - The metaverse concept is experiencing a resurgence in 2025, driven by significant technological breakthroughs and strong national support [1] - The implementation of the national standard GB/T 45993-2025 for the metaverse and the establishment of a standardization committee signal a shift from a "technology stacking phase" to a "scene explosion phase" in China's metaverse industry [1][3] - Hardware and software advancements, exemplified by new VR and MR devices like Meta Quest 3S and Apple Vision Pro, are enhancing user experience and accessibility [1] Group 2 - The practical applications of mature technology are evident, such as the "Metaverse Neo World" in Shanghai, which has attracted major gaming companies and created an integrated industrial ecosystem [2] - The industrial sector is becoming a focal point for the metaverse's value, with predictions that 47% of global enterprises will actively engage in the industrial metaverse by 2027 [2] - Early adopters like Siemens and Renault are leveraging digital twin technology and AR systems to improve operational efficiency and reduce costs [2] Group 3 - The announcement of the metaverse standardization committee by the Ministry of Industry and Information Technology indicates China's proactive approach to establishing a metaverse standard system [3] - The focus on developing foundational standards for metaverse terminology, digital human coding, and industry application standards reflects a strategic direction towards integrating metaverse technology into the real economy [3] - This initiative aims to accelerate the transition from virtual to real, driving industrial upgrades and value creation [3]

Core Viewpoint - Jinqiu Capital led the A-round financing for Stardust Intelligence in 2024, focusing on long-term investment in groundbreaking AI startups with innovative business models [1]. Group 1: Company Overview - Stardust Intelligence was founded in 2022 by members from Tencent Robotics X, with its name derived from the Latin phrase "Ad astra per aspera," meaning "through difficulties to the stars" [4]. - The company has developed a humanoid robot named Astribot S1, designed to assist with household tasks such as taking out the trash and organizing shoes [4][6]. Group 2: Technological Highlights - The design of Astribot S1 addresses three core challenges in creating a truly general-purpose intelligent robot: body design, data collection, and learning algorithms [6][8]. - The robot features a humanoid structure with seven degrees of freedom in its arms, a height of approximately 1.7 meters, and the ability to lift up to 5 kilograms [10]. - The innovative "cable-driven" technology allows for high-resolution force control and enhanced load capacity compared to traditional rigid structures [11]. Group 3: Learning and Operation Systems - Stardust Intelligence has developed a low-cost, intuitive remote operation system that allows users to teach the robot using common VR devices, with a total cost of under $300 [13]. - The DuoCore-WB learning algorithm enables the robot to learn from human demonstrations, focusing on end-effector space rather than joint angles, improving precision and efficiency [19][22]. - The system operates with a low latency of 20ms for command response, ensuring smooth interaction between the operator and the robot [13][15]. Group 4: Performance and Applications - The robot has been tested on six common household tasks, achieving an average success rate of around 80%, with some tasks reaching 100% success [29][43]. - Specific tasks include delivering drinks, storing cat food, and cleaning up toys, showcasing the robot's ability to perform complex, coordinated actions in various environments [32][36][42]. Group 5: Future Prospects - The Astribot Suite integrates innovative hardware, intuitive control systems, and efficient learning algorithms, marking significant progress toward general-purpose intelligent robots [44]. - Future plans include further advancements in hardware, human-robot interaction, and model algorithms to enhance real-world applications of robotic technology [47].

去年XR设备制造商为清理库存并调整商业计划，导致显示面板出货量大幅下滑。Meta Quest 3S的发布是面板出货下降的另一因素，该设备仅采用单块 LCD面板而非双面板设计。在此背景下，2025年的预期增长仅是部分复苏，面板出货量仍将远低于2023年水平。 数据来源：Counterpoint Research 2025年Q1 XR显示器出货量与预测报告 智通财经APP获悉，根据Counterpoint Research最新《XR显示器出货量与预测报告》，2025年全球XR（AR/VR）显示器出货量预计同比增长6%。虽然AR 仍是一个相对小众的细分市场，但其增速将达到42%的同比增幅，远高于VR仅2.5%的增长率。这一增长将由新型AR智能眼镜的推出推动，这些产品将显 示器用于支持AI功能的应用程序，而非仅用于媒体内容消费。 XR显示面板出货量 LCD预计仍将主导VR显示技术，2025年占据87%的出货份额。LCD不仅用于入门级头显，也应用于配备量子点和MiniLED等先进技术的高端设备。在AR 领域，硅基OLED（OLED-on-Silicon）份额预计将降至75%，为MicroLED和LCoS显示技术让出更大 ...

证券研究报告 行业研究 / 行业点评 2025 年 03 月 10 日 行业及产业 电子 强于大市 投资要点： 一年内行业指数与沪深 300 指数对比走势： 资料来源：聚源数据，爱建证券研究所 相关研究 《爱建证券电子行业周报(0222-0228) : DeepSeek 开源周发布五大技术》2025/03/03 《爱建证券电子行业周报(0215-0221) : 全球 最新 AI 模型 GroK - 3 发布》2025/02/24 《人工智能专题报告（1）：适合投资人的 DeepSeek 分析报告》2025/02/20 许亮 S0820525010002 0755-83562506 ——爱建证券电子行业周报 请仔细阅读在本报告尾部的重要法律声明 开源RISC-V芯片有望获得政策推广 xuliang@ajzq.com 本周（20250301-20250307）电子行业涨跌幅为（+2.7 %），涨跌幅排名 9/31 位。SW 电 子三级行业涨跌幅榜靠前的分别是：模拟芯片设计（+5.2 %），数字芯片设计（+5.2 %）， 半导体设备（+4.9 %），光学元件（+4.8 %），电子化学品Ⅲ（+4.7 %）。本周申万一 ...