According to the Guotai Junan Research Report, MR's product competitiveness will be higher than other products on the market. The global sales volume of VR products is about 10 million per year, which is a consumer group that can be directly reached. The pricing level is expected to drop to the iPhone level after large-scale mass production and iteration. We are optimistic about the release of MR. The 100 billion yuan incremental market will bring huge investment opportunities in the industrial chain. The first-generation MR supply chain has been basically defined. It has been more than 5 years since the initial product was established. The supply chain that has been invested in research and development during this period will enjoy the product's penetration dividends. The certainty of entering the supply chain is more important than the elasticity of the value of a single machine. We recommend the machine assembly company Lixun Precision, the testing equipment company Huaxing Yuanchuang, and the parts companies Zhaowei Electromechanical and Changying Precision. Relevant beneficiaries include Smart Cube, Desai Battery, and JPT.