On January 30, Appotronics Corporation Limited (688007.SH), a leading enterprise in semiconductor laser light sources, released its 2025 annual performance forecast, indicating an estimated annual revenue of approximately 1.709 billion yuan. In 2025, with the release of blockbuster films, the cinema industry continued its steady recovery. Leveraging its profound expertise in semiconductor laser technology, Appotronics maintained a stable development trajectory for its cinema business, which contributed consistent cash flow and served as a solid foundation for strategic transformation and the research and development of innovative ventures.
Simultaneously, the company's innovative businesses, particularly the AR optical engine segment, achieved a leapfrog breakthrough, emerging as a core engine driving long-term growth. Building on years of accumulated technology and application exploration in semiconductor compound material systems and optical technologies, Appotronics achieved critical breakthroughs in upstream core components, successfully establishing a comprehensive industrial layout spanning from "underlying technology to core components to end-product applications," thereby laying a solid groundwork for the rapid deployment of innovative businesses like the AR optical engine.
Entering a period of technological explosion, the Dragonfly C1 is leading the race. Currently, the AI glasses market is accelerating its differentiation, with monochromatic green display-based AI glasses hitting a ceiling in terms of differentiation. Facing the critical industry trend of upgrading from monochrome to full-color displays, Appotronics has precisely captured this technological inflection point, demonstrating robust R&D capabilities and rapid product iteration speed in the AR optical engine domain. Within just four months, from September 2025 to January 2026, the company completed a leapfrog upgrade from the Dragonfly G1 to the Dragonfly C1, formally entering a phase of technological explosion.
This leapfrog progress is inseparable from the company's years of technological沉淀. As the industry's first full-color AR optical engine featuring a "one-drives-two" architecture, the Dragonfly C1 employs disruptive technology to overcome the three core pain points of the AI glasses industry: "high cost, heavy weight, and short battery life." By using a single optical engine to drive binocular display, the product directly eliminates the need for a second engine, significantly reducing the overall device cost—particularly impactful given that optical engines typically account for 40% of the total cost of smart glasses—while also achieving a 20% reduction in overall weight and substantially improving battery life. With a monocular volume of just 0.42cc, it achieves full-color display within an extremely compact form factor, greatly expanding the application boundaries of AI glasses in scenarios such as navigation and gaming, and helping AI glasses brands achieve differentiated breakthroughs.
In terms of market expansion, the company is actively engaging with mainstream ecosystems and major vertical clients both domestically and internationally, striving to advance the large-scale implementation of its AR optical engine business. As mass-production capabilities are gradually ramped up, the company is poised to propel the entire AI glasses industry into a new phase of mass production on a scale of tens of millions of units.
While leading technologically, Appotronics' industry influence continues to climb. The company officially joined the AR Alliance, a global "innovation engine" for the AR industry, becoming a core member of the Laser Display for AR (LDAR) subcommittee. More significantly, in a milestone development, Chen Menghao, General Manager of the Appotronics Innovation Center, was appointed co-chair of the Alliance's System Architecture working group alongside a representative appointed by tech giant Meta, jointly leading core initiatives. This advancement marks Appotronics' formal entry into the global AR core technology decision-making circle, receiving authoritative endorsement from the international top tier.
At a recent AR Alliance member conference, Appotronics and Meta representatives shared the stage, providing in-depth analysis of the core challenges in AR system architecture, which garnered high recognition from over a hundred industry chain representatives and experts worldwide. Currently, the global AR industry is at a critical inflection point, transitioning from technological exploration to large-scale application. With its hardcore technology in AR lasers, a rapidly iterating product matrix, and a global ecosystem layout, Appotronics has already seized a first-mover advantage in the industry's development. As the full-color "one-drives-two" AR optical engine moves towards large-scale commercialization and technical standards continue to be refined, the company is well-positioned to stand out in the new round of industrial transformation, embarking on a new cycle of high-quality growth.
Beyond the AR optical engine, the company has also made breakthroughs in the field of visible light underwater LiDAR, having completed module integration with a leading supplier of robotic LiDAR solutions and entered the cooperative development stage, potentially opening up new growth avenues in the future.
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