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AI edge smart hardware is transitioning from “concept” to “mass production”. Alibaba’s Quark AI glasses mark a significant milestone, and investment opportunities in the supply chain deserve systematic attention.
1. Supply Chain Breakdown: Domestic Chips Fully Penetrate, Core Targets Clear
| Company | Product/Role | Remarks |
|---|---|---|
| Hengxuan Technology | BES2800 Main Control SoC (Audio/Low Power) | Domestic TWS leader enters AR glasses for the first time |
| Aiwei Electronics | Load Switch, Breathing Light Driver, Audio PA, Power Protection, Cap SoC | One-stop packaging for power + interaction chips |
| Nanchip Technology | Current Limiting IC, Charging Case SC89601D, Boost SC8329 | Full-link power supply from glasses to charging case |
| Luxshare Precision | Complete Machine ODM | Apple supply chain leader replicates to AI glasses |
| Doctor Glasses | Channel + Brand Collaboration | Offline eye examination + glasses fitting + after-sales, solving the last mile of “wearing” |
| Zhige Technology | Optical Waveguide/Optical Engine | Core support for Micro LED, scarce in the domestic market |
Conclusion:Domestic chip penetration exceeds 80%,Hengxuan, Aiwei, Nanchip and others have achieved “full-link domestic substitution” for the first time, with significant performance elasticity.
2. Industry Landscape: Giants Entering the Field, 2025 Becomes the “Year of AI Glasses”
| Company | Release Date | Product/Progress | Features |
|---|---|---|---|
| Alibaba | 2025.11.27 | Quark AI Glasses S1 | Most comprehensive features + ecological alliance |
| Li Auto | 2025.12.3 | Li Auto AI Glasses | Extending in-car scenarios, Li Xiang personally endorses |
| Samsung | 2025.11 | XR roadmap announcement includes AI glasses | Benchmark in the Android camp |
| Meta | Multiple releases in 2025 | Ray-Ban Display, Oakley MetaVanguard | Sales have exceeded one million, the most mature ecosystem |
Conclusion:2025 will no longer be the year of “PPT glasses”, but rather a “giant melee”,Meta validates the market, while Alibaba, Li Auto, and Samsung accelerate competition.
3. Investment Main Lines: Three Chains, Focus on “Chips + OEM + Optical Waveguide”
| Main Line | Core Targets | Investment Logic |
|---|---|---|
| Chip Chain | Hengxuan Technology, Aiwei Electronics, Nanchip Technology, Zhongke Lanxun | Domestic substitution + ASP increase + volume growth triple resonance |
| OEM Chain | Luxshare Precision, GoerTek, Longqi Technology | From smartphones/TWS to AI glasses, production line reuse + yield advantages |
| Optical Chain | Zhige Technology (unlisted), Tianyue Advanced (SiC substrate), Crystal Optoelectronics | Micro LED + optical waveguide scarce assets, significant valuation elasticity |
Conclusion:The first phase focuses on “chips”, the second phase on “yield/cost”, and the third phase on “ecosystem/content”,currently in the mid-stage of the first phase.
4. Risk Warning: Triple Uncertainty in Demand, Technology, and Tariffs
| Risk | Specific Manifestation |
|---|---|
| Downstream Demand | Low acceptance in the consumer market, sensitivity to wearing comfort, battery life, and price |
| Technology Iteration | Micro LED yield, optical waveguide costs, and chip power consumption still need optimization |
| Tariff Increases | The U.S. may impose tariffs on AI hardware from China, affecting the export chain |
5. Summary in One Sentence:
“AI glasses are transitioning from concept to mass production, with Alibaba’s Quark being a domestic milestone. The chip supply chain is the first to benefit, and it is recommended to focus on Hengxuan, Aiwei, Nanchip, Luxshare, and GoerTek.”
Disclaimer:This article is based on publicly available information and is merely a personal note for tracking industry trends. It does not constitute investment advice; the stock market carries risks, and decisions should be made cautiously..