The market for smart glasses is thriving, with shipments in the first half of the year increasing by over 64%. On the evening of October 20, Dioo Microcircuits (688381) announced multiple updates. The announcements indicate that the company intends to acquire 100% of the equity of Rongpai Semiconductor (Shanghai) Co., Ltd. (hereafter referred to as "Rongpai Semiconductor") by issuing shares and making cash payments. Concurrently, they plan to privately place shares to no more than 35 eligible specific investors to raise supporting funds. Trading of the company's stock will resume on October 21, 2025.

According to the announcement, Rongpai Semiconductor's products include digital isolators, isolated interfaces, isolated drivers, isolated samplers, and optical MOS components, which are used in numerous fields such as automotive electronics, industrial control, new energy, smart meters, and smart home appliances. With its innovative capacitive smart voltage divider technology (iDivider technology), it has achieved breakthroughs in domestic isolation chips and has several invention patents in the isolation field. Dioo Microcircuits stated that both the company and Rongpai Semiconductor operate within the analog chip design industry, and mergers and acquisitions are crucial for strengthening and expanding in this sector. Following this transaction, the company aims to quickly enhance its portfolio of isolator products and to rapidly apply, absorb, and transform Rongpai Semiconductor's mature patented technologies and R&D resources, upgrading its product matrix and significantly expanding its product range to provide comprehensive solutions to more downstream clients. Furthermore, the rich customer resources accumulated by Rongpai Semiconductor in automotive electronics and industrial control will beneficially supplement the company's customer structure, allowing for broad sharing of these customer resources and catering to clients across various high-performance analog chip products, significantly enhancing market competitiveness. Shipment Volume of AI Glasses Increased Sharply in the First Half of the Year On October 20, the International Data Corporation (IDC) released a report indicating that in the first half of 2025, the global smart glasses (AI glasses) market's shipment volume reached 4.065 million units, a year-on-year increase of 64.2%. In the future, as product forms continue to innovate and application scenarios expand, smart glasses are expected to become the next-generation human-computer interaction interface, bringing new growth momentum to the consumer electronics market. IDC estimates that by 2029, the global smart glasses market will surpass 40 million units shipped, with China's market share steadily increasing, expected to achieve a compound annual growth rate (CAGR) of 55.6% from 2024 to 2029, the highest growth rate globally.

AI glasses are becoming a primary focus for major tech companies. At the end of last month, Meta launched the Ray-Ban Display smart glasses, starting at $799, which have gained significant consumer popularity. Meta's Chief Technology Officer Andrew Bosworth recently stated that the Ray-Ban Display smart glasses have nearly sold out in retail stores worldwide, and all trial sessions before November have been fully booked. Reports indicate that on e-commerce platforms in mainland China, these glasses, originally priced around ¥5,800, have seen prices soar to as high as ¥15,000. Apple is also targeting smart glasses, pausing its upgrade plan for the Vision Pro headset to reallocate resources towards developing smart glasses that can compete with Meta's products. Market research firm Omdia has noted that demand for VR headsets is experiencing a downturn, while AR smart glasses are becoming a new focus, creating a new growth area for device retail and subscription services. As one of the best carriers for AI applications, AI glasses are driving the upgrade of smart wearable devices. Galaxy Securities remarked that the new wearable devices launched this year are expected to help revive the market. Through technological breakthroughs, ecosystem integration, and market penetration, AR glasses manufacturers are transitioning AR glasses from a "niche geek toy" to a "mainstream smart terminal," and with the maturation of AI+AR technology, smart glasses are likely to become the next-generation mainstream computing terminal following smartphones. Several AI Glasses Concept Stocks Release Q3 Reports According to statistics from Securities Times·Data Bao, among AI glasses concept stocks, there were 12 stocks in the first three quarters of this year with a net capital inflow exceeding ¥1 billion, with Luxshare Precision leading at ¥5.007 billion; OmniVision Technologies followed with ¥2.032 billion; Changying Precision, ZTE, and Rockchip ranked third to fifth, with net inflows all exceeding ¥1.5 billion.

During an investor survey on August 27, Luxshare Precision stated that it has extensive involvement in both components and complete products in the AI glasses sector. Currently, about one-third of the market categories in the complete AI glasses product line are supported or serviced by the company, and it maintains deep business contacts with top clients globally. On August 8, OmniVision Technologies stated on the investor interaction platform that their image sensor products are highly compatible with the demand from AR/VR and AI glasses terminal clients in terms of size and low power consumption. The company’s developed LCOS products, with characteristics of high resolution, compact design, low power consumption, and low cost, will provide more assistance in economic feasibility and solution viability for new markets including AR/VR and AI glasses. As of October 20, 10 AI glasses concept stocks have released relevant reports for Q3 2025. Based on the median statistics of quarterly reports or earnings forecasts, Luxshare Precision, Lintel Intelligent Manufacturing, Rockchip, and Sitronix reported net profits exceeding ¥500 million in the first three quarters, amounting to ¥11.117 billion, ¥2.005 billion, ¥780 million, and ¥696 million respectively. Suobide, Sitronix, Rockchip, Fei Rongda, and Juchip Tech achieved year-on-year doubling in net profits, with Suobide showing the highest increase of 12.85 times.

Suobide expects net profit attributable to shareholders to reach between ¥49.5308 million and ¥51.5308 million in the first three quarters, a year-on-year increase of 1258.39% to 1313.24%. During the reporting period, the company's main product delivery scale significantly increased, achieving rapid overall performance growth. The company mentioned that in Q3, cooperation with a well-known domestic AI glasses client on smart wearable antennas and related products entered the mass production phase; the automotive antenna and wiring harness businesses maintained rapid growth, resulting in multiple increases in net profit; and products such as thermal siphon and PCS liquid cooling plates achieved small-volume shipments. According to ratings data from three or more institutions, among the AI glasses concept stocks expected to be profitable in 2024, 11 stocks have been predicted by institutions to have their net profits potentially double in 2025. Notable among these are Sanan Optoelectronics, TCL Technology, Qixin Group, Haopeng Technology, and Guangfeng Technology, forecasted to have increases of 294.41%, 289.41%, 180.81%, 164.47%, and 159.86%, respectively.