CITIC Securities: closely monitor lens suppliers with strong manufacturing and research and development capabilities.

CICC Securities pointed out that in 2025, new smart glasses will be launched frequently. Meta and the globally renowned sports brand Oakley, under EssilorLuxottica in France, formally announced the joint launch of a new series of AR glasses, Oakley Meta HSTN, on June 20, 2025. Following this, Meta may launch AR glasses with single-eye displays in the second half of 2025. In addition, manufacturers are also introducing new products. Currently, the optical degree solutions for smart glasses mainly rely on users getting their own lenses and optional sales by smart glasses manufacturers, all of which use regular optical lenses. As some North American smart glasses manufacturers are actively exploring integrated lens solutions for AR glasses, CICC Securities believes that it is important to pay attention to lens suppliers with strong manufacturing and research capabilities.