Core Viewpoint - The integration of AR technology and artificial intelligence is accelerating the penetration of AR glasses into the consumer electronics market, prompting upstream and downstream companies to intensify their investments in this sector [1]. Group 1: Technology Breakthroughs - Micro LED and SiC are identified as the core components driving the upgrade of AR glasses, with Micro LED enhancing image display and SiC managing energy efficiency and optical waveguide functions [2]. - Sanan Optoelectronics has accumulated extensive R&D experience in Micro LED, achieving miniaturization and high efficiency in its chips, which meet advanced industry standards in brightness, contrast, color saturation, and response speed [2]. - The company's SiC optical chips meet the manufacturing requirements for AR glasses' optical waveguides and have been certified by leading domestic and international clients, indicating readiness for commercialization [3]. Group 2: Market Potential - The AR glasses market is projected to see significant growth, with global sales expected to exceed 850,000 units by 2025, representing a year-on-year increase of 70% [4]. - The AI/AR glasses industry is anticipated to surpass a scale of 100 billion within three years, highlighting the vast market potential [4]. Group 3: Supply Chain Advantages - Sanan Optoelectronics possesses a unique advantage in the industry by being one of the few companies with both Micro LED and SiC R&D and manufacturing capabilities, creating a self-controlled supply chain for core components [4]. - This vertical integration ensures stable supply, cost optimization, and improved product delivery efficiency, providing comprehensive support to AR glasses manufacturers [4]. - The company’s subsidiary, Hunan Sanan, has a production capacity of 16,000 6-inch SiC wafers per month and is operational with 8-inch SiC substrate and epitaxy production lines [4]. Group 4: Collaborative Efforts - Sanan Optoelectronics is closely collaborating with domestic and international manufacturers in the AI/AR glasses sector, with small batch deliveries of SiC optical substrates already made to multiple clients [5]. - Continuous optimization of optical parameters is underway, with new applications in AI/AR glasses expected to drive growth in the company's SiC business [5].