According to the Huatai Securities Research Report, the current explosion in technology consumption is essentially the result of deep coupling with consumers' demand for efficiency improvement, emotional companionship, and personal expression after the underlying technology crosses the practical threshold. The industry is upgrading from a single “category volume” to a “scenario and entry point”. According to Huatai Securities, terminals such as AI glasses, smart wearables, service robots, and 3D printing are expected to become new consumer entrances and carriers for new scenarios. If subsequent device penetration rates, service subscriptions, and ecological closed-loop verification continue, the profit logic of future products is also expected to extend from one-time hardware sales to continuous service monetization. Investment advice: Focus on the three types of technology consumer leaders with product innovation capabilities and leading advantages. Entry-level opportunities focus on interactive terminals such as AI glasses/wearable devices, focusing on ecological entry values; home entrances and scenario-based opportunities, focusing on home service robots and AI companion robots; emotional and creative opportunities, focusing on consumer-grade 3D printing, laser engraving, etc.

According to the Huatai Securities Research Report, the current explosion in technology consumption is essentially the result of deep coupling with consumers' demand for efficiency improvement, emotional companionship, and personal expression after the underlying technology crosses the practical threshold. The industry is upgrading from a single “category volume” to a “scenario and entry point”. According to Huatai Securities, terminals such as AI glasses, smart wearables, service robots, and 3D printing are expected to become new consumer entrances and carriers for new scenarios. If subsequent device penetration rates, service subscriptions, and ecological closed-loop verification continue, the profit logic of future products is also expected to extend from one-time hardware sales to continuous service monetization. Investment advice: Focus on the three types of technology consumer leaders with product innovation capabilities and leading advantages. Entry-level opportunities focus on interactive terminals such as AI glasses/wearable devices, focusing on ecological entry values; home entry and scene opportunities, focusing on home service robots and AI companion robots; emotional and creative opportunities, focusing on consumer-grade 3D printing, laser engraving, etc.