[Guojin Securities: Sony, Apple and Meta all release blockbuster new products or lead this year to enter the strongest hardware cycle of XR]. According to a research report by Guojin Securities, Sony, Apple and Meta will all release blockbuster new products in 2023, which may lead this year to enter the strongest hardware cycle of XR. Among them, Vision Pro highly integrates the virtual world with the real world, defining the XR experience, upgrading computing power, new OS systems and development tools to achieve major breakthroughs in XR hardware performance and content, and follow-up content and applications are expected to usher in a simultaneous increase in quality and quantity. It is recommended to pay attention to companies that are relatively mature in VR content or software and hardware layout. In terms of individual stocks, it is recommended to pay attention to the Kaiying network and Baotong technology that continue to invest in VR games, Hengxin Oriental, which has operated VR games + education for many years, and layout VR/AR marketing, content, SaaS, Feitian Cloud moving with VR content production capabilities and other enterprises, as well as Jiachuang Video with more mature VR camera technology.