Tefaxinxi Updates Progress on Optical, MEMS, and CPO-Related Projects

Market data showed that in Q1 2026, China's consumer-grade XR market formed a dual-track development pattern with AR sustaining growth and VR undergoing structural adjustment, with total sales of 190,000 units, up 63% YoY. Among them, the AR market grew 111% YoY, while the VR market continued to decline. The market expects that in H2 2026, with the popularization of optical waveguide technology, breakthroughs in MicroLED mass production, and deep integration of AI large models, the AR industry will usher in multi-technology convergence and application scenario expansion, accelerating penetration into the mass consumer market and driving the industry into a new phase of full-scenario intelligent interaction.

Alibaba's financial report stated that T-Head Semiconductor Co., Ltd., as its chip design subsidiary, had achieved widespread industrial application of its independently developed AI chips, with large-scale application cases first emerging in the automotive industry. Over 100,000 Zhenwu PPU cards had been deployed on Alibaba Cloud's public cloud platform, and more than 30 leading automakers and autonomous driving companies were conducting intelligent driving R&D based on this chip. The Zhenwu chip, together with Alibaba Cloud and the Qwen model, formed a complete integrated technology stack, significantly enhancing training and inference efficiency.

[SMM Analysis] Copper prices have surged recently. On the surface, the current hot topics in the copper market are focused on the following areas: the widening LME-COMEX price spread, copper concentrate TCs hitting new lows again, the energy crisis in Peru, the repeated fluctuations in the pace of Grasberg's production resumptions, and the substitution effect between copper cathode and copper scrap in China. However, from a deeper perspective, all these events can be understood under a single theme: the growing global emphasis on copper resource security, with the market repricing the entire industry chain.