Shenzhen Eyewear Rising Star, $1 Billion Cash Inflow

A prominent Shenzhen company, LeiNiao Innovation, scored big with a new round of financing exceeding $1 billion. The funding, led by China Mobile Chain Fund and Citic Jinshi, with participation from China Unicom’s Lianchuang Innovation Fund and other institutions, solidifies LeiNiao Innovation’s position as one of the “AR Four Dragons”. By the end of September 2025, it held a global market share of 24%, dominating global shipments of AR smart glasses for two consecutive quarters. This milestone represents the first joint investment in the smart glasses sector by major domestic telecom operators. LeiNiao Innovation’s CEO, Li Hongwei, emphasized the significance…