Daoming Optics' recently disclosed Q3 2026 report shows that the company posted quarterly revenue of 328 million yuan, down 11.09% year on year, while net profit attributable to shareholders came in at 28.4654 million yuan, a sharp drop of 56.54% year on year. The decline in profit far outpaced that in revenue, underscoring the persistent pressure on profitability throughout the year.

This quarterly report reflects two converging storylines: short-term performance remains weighed down by overseas demand disruptions, while the company's medium-term investments in AR optics and functional materials have yet to reach the revenue-generating stage. The pressure on performance traces back to external headwinds dating from the first half of the year—geopolitical turbulence in the Middle East dampened overseas demand, and coupled with falling domestic shipments of color TVs and PCs, the company's export revenue for H1 fell 27.12% year on year, with revenue and net profit attributable to shareholders down 13.20% and 22.97%, respectively. The continued slide in third-quarter revenue and profit suggests no sign of relief yet.

Unlike the performance curve, Daoming Optics' strategic positioning in the optical industry chain has not lost momentum. In February 2026, the company injected 30 million yuan of its own funds into Hefei Shoujing Technology, acquiring an 11% stake, with the capital earmarked for building a "production line with an annual capacity of 25,000 sets of AR glasses optical modules."

Shoujing Technology covers full AR smart terminals, display modules, and spatial positioning modules, while Daoming Optics—leveraging the optical design and ultra-precision processing capabilities of Hangzhou Daoming Kechuang New Materials Co., Ltd.—aims to build a collaborative chain from optical components to AR terminal modules. However, Shoujing Technology posted net losses for two consecutive years in 2024 and 2025, and its AR business remains in the early commercialization stage, making it difficult to contribute positively to the listed company's bottom line in the near term.