ECM

XREAL Pre-IPO: Early Thoughts

30 Jul 2026 By Ke Yan, CFA
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Abstract: XREAL, an AR eyewear maker, has filed its prospectus with the HKEX. CICC and Citi are the joint sponsors. We look at the company's core segments: AR eyewear and accessories. We put XREAL on Watch. Market leadership and named partners are positives, but cash burn, breakeven risk and product cycles matter.

GOERTEK (002241 CH) Luxshare Precision (002475 CH) HUAQIN TECHNOLOGY (603296 CH) Shanghai Longcheer (603341 CH) Meta Platforms, Inc. Class A Common Stock (META US)

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GOERTEK, Luxshare Precision, HUAQIN TECHNOLOGY, Shanghai Longcheer, Meta Platforms, Inc. Class A Common Stock

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