Annual Report 2025

舜宇光學科技（集團）有限公司 • 2025 年報 13 Management Discussion and Analysis 管理層討論與分析 In 2025, the XR market exhibited significant internal segmentation. Mixed reality (“ MR ”) device sales continued to decline due to a lack of new content and users, with global shipments amounting to approximately 4.97 million units, representing a year-on-year decline of 34.3% (source: Wellsenn XR). In sharp contrast, empowered by large AI models, smart glasses evolved from simple display tools into personal intelligent assistants, significantly boosting market vitality. The global shipments amounted to approximately 7.66 million units, representing a year-on-year increase of approximately 400.7% (source: Wellsenn XR). In addition, the pursuit of display quality, light-weight design, and intelligent interaction has driven advanced optical solutions such as optical waveguide technology to become the directions in R&D and application for augmented reality (“ AR ”) glasses. Global technology giants and innovative enterprises continue to increase investment in R&D and production capacity. This not only accelerates the maturation and cost reduction of cutting-edge technologies, but also creates clear opportunities for technical synergy and market expansion for suppliers of core optical components. With breakthroughs in AI technology, new opportunities have emerged in the Pan-IoT market. The robotics industry is expanding from traditional industrial manufacturing into vast fields such as consumer services, healthcare, and logistics distribution. In 2025, not only humanoid robots, but also automated guided vehicles (“ AGV ”), autonomous mobile robots (“ AMR ”), pool cleaning robots, lawn mowing robots and warehouse automation have unleashed robust market demand. Robotic vision, as the key to enabling environmental perception, navigation and obstacle avoidance, and precise operations, is becoming increasingly important. Whether for service robots, industrial mobile robots, or the highly promising humanoid robots of the future, there is a consistently rising demand for 3D visual perception products, including LiDAR and depth cameras. This emerging market represents the next important frontier for optical technology applications, opening up long-term growth potential. In addition, with the continuous expansion of the user base of short video bloggers in the era of self-media and the trend of AI technology lowering the threshold for self-media creation, the demand for handheld imaging devices is growing rapidly. The imaging functions are also developing towards multiple cameras, larger image size, higher resolution and ultra-wide angles, bringing more development opportunities to optical product manufacturers. 二零二五年， XR 市場內部呈現顯著分化，因混 合現實（「 MR 」）設備缺乏新內容和用戶，產品 銷量持續下滑，全球出貨量約 4,970,000 台， 同比下降 34.3% （數據來源： Wellsenn XR ）。 與此形成鮮明對比的是，智能眼鏡在 A I 大模 型的賦能下從單一的顯示工具向個人智能助 理演進，市場活力顯著增強，全球出貨量約 7,660,000 台，同比增長約 400.7% （數據來 源： Wellsenn XR ）。此外，對顯示效果、輕薄 化及交互智能化的追求，驅動光波導等先進光 學方案成為增強現實（「 AR 」）眼鏡研發與應用 的方向。全球科技巨頭與創新企業持續加碼研 發與產能佈局，這不僅加速了前沿技術的成熟 與成本下探，也為核心光學部件供應商帶來了 明確的技術協同與市場增量空間。 隨著 AI 技術的突破，泛 IoT 市場新機遇也應運而 生。機器人行業正從傳統的工業製造向消費服 務、醫療健康、物流配送等廣闊領域滲透。二 零二五年，不僅僅是人形機器人，無人搬運車 （「 AGV 」）、自主移動機器人（「 AMR 」）、泳池 清潔機器人、割草機器人及倉儲自動化均釋放 出強勁的市場需求。機器人視覺作為實現環境 感知、導航避障和精準操作的關鍵，其重要性 日益凸顯。無論是服務機器人、工業移動機器 人，還是未來極具潛力的人形機器人，都對 3D 視覺感知產品（包括激光雷達、深度攝像頭等） 產生了持續增長的需求。這一新興市場代表了 光學技術應用的下一個重要前沿，開闢了長期 的增長空間。此外，隨著自媒體時代短視頻博 主用戶不斷擴大，且 AI 技術降低自媒體創作門 檻的趨勢下，手持攝影設備的需求快速增長， 影像功能也朝著多攝像頭、更大像面、更高解 析力及超廣角方向發展，為光學產品製造商帶 來更多發展機遇。