Guangfeng Technology 2025 Performance Brief: Cinema Business Steady, AR Business Breakthrough

On February 27, leading semiconductor laser light source company Focuslight Technology (688007.SH) released its 2025 performance earnings quick report, stating that in 2025 it achieved revenue of approximately RMB 1.709 billion. Looking at the full year, phenomenon-level blockbuster films were shown in theaters in high concentration, and the company’s cinema operations maintained a steady development momentum, generating stable cash flow for the company and becoming a solid backer for strategic transformation and innovation R&D.

At the same time, the company’s innovative businesses—especially its AR optical engine business—achieved a breakthrough, becoming the core engine driving the company’s long-term development. Recently, a research report from China Merchants Securities pointed out that global tech giants such as Meta, Google, and Apple are intensively rolling out AI glasses, while China is also entering a “Hundred-Mirror Battle” among brands. It is expected that 2027 will bring the truly “iPhone moment,” and in the same research report, Focuslight Technology is listed as a key prospect to watch in the upstream “water sellers” segment.

AR optical engine technology and products enter a period of explosive growth

Seizing the key window in the AI glasses industry as it upgrades from monochrome display to full-color display, Focuslight Technology has demonstrated strong R&D strength and rapid product iteration. Within just four short months from September 2025 to January 2026, the company completed a leapfrog upgrade from Dragonfly G1 to Dragonfly C1, officially entering a phase of technological explosion. This leap forward depends on years of technical accumulation by the company.

As the industry’s first full-color LCoS AR optical engine with a “one-to-two” architecture, Dragonfly C1 tackles three core pain points in the AI glasses industry—“high cost, heavy weight, and short battery life”—with disruptive technology. The product uses a single optical engine to drive binocular display, directly reducing the use of one optical engine; against the industry backdrop where the optical engine accounts for 40% of the cost of the complete smart glasses system, it significantly lowers the system’s total cost, while also achieving a 20% reduction in system weight and greatly enhancing battery life. Its single-eye volume is only 0.42cc; in an extremely compact body it delivers full-color display, greatly expanding the application boundaries of AI glasses in scenarios such as navigation and gaming, and helping AI glasses brands achieve differentiated breakthroughs.

Teaming up with international giants to define technical standards

Leadership in technology and products has continued to elevate Focuslight Technology’s influence in the industry, successfully placing it in the global AR industry’s core decision-making circle. The company has officially joined the global AR industry “Innovation Engine”—the AR Alliance—becoming a core member of the Laser Display for AR (LDAR) subcommittee. Even more milestone-worthy, Focuslight Technology’s Chief Technology Innovation Center Manager Chen Menghao, together with a representative appointed by the tech giant Meta, jointly served as co-heads of the Alliance System architecture (system architecture) working group, working hand in hand to lead key efforts.

This development marks that Focuslight Technology has formally entered the global AR core technology decision-making circle and received authoritative endorsement from the international top-tier camp. At a recent AR Alliance members’ conference, Focuslight Technology and Meta representatives spoke on the same stage, deeply dissecting the key challenges of AR system architecture, and earned high recognition from over 100 industry-chain representatives and experts worldwide.

Currently, the global AR industry is at a critical turning point from technological exploration to large-scale application. Relying on hard-core technology in AR lasers, a product matrix with rapid iteration, and a global ecosystem layout, Focuslight Technology has already seized the early lead in industry development.

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Editor: Liu Wanli SF014