CONANT OPTICAL (02276) signed a memorandum of cooperation with a globally leading technology company in the field of smart glasses.

CONANT OPTICAL (02276) announced that the company has achieved a milestone breakthrough in the field of smart glasses optical solutions. After years of joint research and development, verification, and preparation, the company has signed a legally binding memorandum of cooperation with a global leading technology company in the smart glasses industry. This memorandum, based on a previous cooperation framework agreement, details the long-term mass production cooperation for a key smart glasses project, including the company's capacity, output, duration, equipment list and investment amount, priority supply clauses, and customer-related order commitments. The signing of this memorandum signifies that the company has been designated as the core lens supplier for the main smart glasses products of the global leading smart glasses enterprise. In addition, combined with the mass production of several AR smart glasses projects for domestic major clients in the previous period, the company's optical solutions and technical capabilities in the field of smart glasses, especially AR smart glasses products, have been fully recognized by technology enterprises and consumer electronics companies at home and abroad. Over the past three years, the company has accumulated more than forty joint research and development projects with dozens of international and domestic top technology companies and consumer electronics giants, covering various technological routes such as AI smart glasses and AR waveguide glasses. Through these extensive and in-depth collaborations, the company has gained profound insights into different smart glasses optical solutions and has developed research reserves and processing capabilities to adapt to various visual solutions. Especially in the field of AR glasses with the highest technical barriers, the company has quickly responded to customer demands with its core technological capabilities in optical design, ultra-thin lens manufacturing, injection molding, and bonding technology, establishing a significant first-mover advantage and customer trust. While focusing on the research and development and manufacturing of high-end lenses, the company has upgraded its capabilities to provide one-stop vision research solutions at the request of domestic major clients, extending its industrial chain service capabilities to support customers in optimizing key links in the supply chain, significantly improving supply chain efficiency. With an efficient C2M model, the company has helped its products quickly reach end consumers, enhancing the end-user experience. To meet the rapid growth of the XR business, the company is proactively planning and laying out production capabilities. The company has built and put into operation multiple XR smart glasses lens dedicated production lines, including assembly lines for optical display modules integrated with surface pasting and frame pasting process in XR glasses lenses, and high-end XR lens customized workshop production lines. It will continue to build related production lines to meet the full-cycle demand of different customers from research and development verification to mass production. As stated in the 2025 performance announcement, the company has completed the acquisition of the remaining 51% equity of its joint venture company, Jiangsu Blueprint Eyeglasses Co., Ltd. Currently, the company is strategically upgrading and transforming its existing plant and production lines, complementing and improving the XR project's second phase and third phase production lines, planning to build it into an internationally leading XR smart glasses supporting lens precision processing base, enhancing the mass production capacity of several key projects. With international and domestic top technology companies and consumer electronics giants laying out smart glasses, the industry has entered a period of rapid growth. The Board of Directors believes that the company, relying on over thirty years of optical technology accumulation, joint research projects with global leading customers, and the first completion of capacity and service model upgrades, has established a significant first-mover advantage and leadership position in the field of smart glasses optical solutions. The company expects that the sales volume and revenue of the XR business will achieve significant growth starting in 2026, becoming a strong engine to drive the company's future value growth. Furthermore, the company is currently focusing on planning and preparing for the mass production of various key smart glasses projects for domestic and international major clients. In the future, it will continue to focus on the research and manufacturing advantages in the XR business, continue to invest, and create long-term value for shareholders.