Huatai Securities: The high prosperity of the computing power chain continues, and AI glasses are expected to reach a turning point in the second half of the year.

The research report from Huatai Securities indicates that looking forward to the second half of 2025 in the electronics sector, it is recommended to pay attention to: 1) Continuous iteration of large-scale architecture, Scaling Law is expected to accelerate the growth of superimposed reasoning demand again, and is expected to continue the high prosperity of computing power chain; 2) In terms of independent controllability, the continuous advancement of advanced manufacturing capabilities in the domestic manufacturing sector is being promoted, and attention should be paid to the continuous opening up of new production capacity to bring opportunities for the increase of localization rate for domestic equipment manufacturers; 3) In terms of AI, in the second half of the year, AI glasses are expected to reach a turning point, and in the intelligent driving field, the continuous downward trend in price bands is expected to accelerate the industry trend.