Orient Securities released a research report highlighting that on November 27, Alibaba's Kuake AI glasses were officially launched. The product features an ultra-thin frame design, with temple arms measuring just 7.5mm—the narrowest among global peers—and frames at 3.3mm, approximately 25% thinner than industry standards. CONANT OPTICAL (02276) is the exclusive lens supplier. Retail pricing includes a 13% tax and profit margin, with Alibaba likely avoiding excessive premiums, particularly on 1.74 refractive index lenses, ensuring strong profitability for eyewear suppliers.
From Q2 2025, major brands like Meta and Xiaomi have accelerated smart glasses launches, signaling a rapid industry expansion. By 2026, more tech giants are expected to enter the market, propelling smart glasses into a growth phase.
**Key Highlights of Alibaba Kuake Glasses**: - Two series: S1 (with display) starting at CNY 3,799 and G1 (without display) from CNY 1,899. - S1 features dual flagship chips (Qualcomm AR1 + BES2800), 3K video recording upgradable to 4K, and adjustable focus. - Innovations include swappable battery design, ultra-thin frames, and deep integration with Alibaba’s ecosystem (Alipay, Amap, Taobao).
**Market Momentum**: - Meta launched three AI glasses (Ray-Ban Meta Gen 2, Oakley Meta Vanguard) priced from $379. - Xiaomi and others introduced models ranging from CNY 1,999 to CNY 8,999, emphasizing lightweight designs and AR capabilities.
**Eyewear Suppliers’ Role**: Smart glasses require customized lenses for individual prescriptions, positioning firms like CONANT OPTICAL, Boloni (300622.SZ), and Mingyue Optical (301101.SZ) as critical partners. Their expertise in ultra-thin lenses and fitting technology is pivotal.
**Risks**: Increased competition, slower adoption, and technological challenges may impact growth.
**Related Stocks**: CONANT OPTICAL (02276), Boloni (300622.SZ), Mingyue Optical (301101.SZ), Aisidi (002416.SZ), Tianyin Holding (000829.SZ).
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