证券日报网讯 2月24日，影石创新在互动平台回答投资者提问时表示，二级市场股价波动受市场情绪、 行业变化、公司情况、宏观经济等多方面因素综合影响，公司对资本市场情况保持密切关注，并始终高 度重视全体股东利益，持续聚焦于主营业务与产品创新，不断提升自身的核心竞争力，推动公司实现高 质量、可持续发展，努力为股东创造长期价值。同时，公司会更积极地倾听大家的声音，持续优化投资 者关系管理工作，以更好地向投资者传递公司价值和发展理念。 （文章来源：证券日报） ...

证券日报网讯 2月24日，影石创新在互动平台回答投资者提问时表示，人才是公司长期稳定发展的根 基，公司历来重视人才培养和储备，促进员工与企业共同成长。为保持公司市场竞争力和对人才的吸引 力，进一步提升员工的凝聚力，激发团队的积极性，公司重视员工激励工作。同时，公司也一直在加强 成本费用管控，全面实施精细化管理，减少不必要的支出，有效控制成本费用，提升资金的使用效率。 二级市场股价波动受多方面因素综合影响，公司对资本市场情况保持密切关注，并始终高度重视全体股 东利益，持续聚焦于主营业务与产品创新，不断提升自身的核心竞争力，推动公司实现高质量、可持续 发展，努力为股东创造长期价值。 （文章来源：证券日报） ...

Core Viewpoint - China's technological innovation capabilities are increasingly attracting global capital attention [1] Group 1: Foreign Investment Research - Since 2026, foreign institutions have conducted research on 189 A-share listed companies, focusing on hard technology sectors such as power equipment, electronics, and machinery [2][3] - The most popular companies among foreign investors include Huaming Equipment, Yingshi Innovation, and Huichuan Technology, each receiving over 50 foreign institution inquiries [3][4] Group 2: Company-Specific Insights - Huaming Equipment has been a focal point for foreign investors, with 59 institutions including Morgan Asset and BlackRock showing interest. The company's global business development and plans for an H-share listing in Hong Kong are key discussion points [5] - Yingshi Innovation has attracted attention from 58 foreign institutions, focusing on its new product developments in cameras and wearable technology [6] - Huichuan Technology is also under scrutiny from 53 foreign institutions, with aspirations to enhance its international business presence [6] Group 3: Industry Focus - The power equipment, electronics, and machinery sectors are receiving the highest levels of international attention this year [7][8] - Notable companies in the power equipment sector include Huaming Equipment, Huichuan Technology, and Dajin Heavy Industry, while the electronics sector features Yingshi Innovation and Aobi Zhongguang [8][9] Group 4: Future Economic Outlook - Foreign institutions believe that China's large technology sector, domestic demand, innovation, and high-tech investment will be key drivers of economic growth in 2026 [9] - The FTSE Russell's global investment research head indicates that technology will constitute 27.1% of the FTSE China Index by the end of 2025, suggesting a diversified industry composition that could benefit Chinese stocks [9] - UBS's China equity strategy head notes that potential inflows of $16 billion could occur if foreign funds reallocate to include Chinese stocks in their portfolios [9]

Core Insights - The industrial lens industry is experiencing significant growth, with market size projected to increase from 250 million yuan in 2016 to 4.686 billion yuan by 2025, representing a compound annual growth rate (CAGR) of 38.5% [1][9] - This growth is supported by government policies aimed at promoting smart manufacturing and machine vision, which directly increases demand for industrial lenses [1][9] - The industry benefits from a wide range of applications, including industrial automation, medical, security, transportation, and aviation, which further drives demand [1][9] - Technological advancements and improved R&D capabilities among domestic companies enhance product performance, meeting diverse market needs and expanding market capacity [1][9] Industry Overview - Industrial lenses are specialized optical lenses designed for industrial applications, characterized by high resolution, low distortion, high contrast, and excellent color performance [3] - They are categorized based on different interfaces (C-mount, CS-mount, F-mount) and focal lengths (fixed-focus, variable-focus) [3] Industry Chain - The industrial lens industry consists of upstream raw materials (optical glass, optical plastics), midstream manufacturing, and downstream applications in machine vision, video surveillance, industrial inspection, and medical imaging [5][6] - In machine vision, industrial lenses are used for quality inspection, size measurement, surface defect detection, and barcode recognition [5][6] Competitive Landscape - The domestic industrial lens market has historically been dominated by foreign brands, but local companies are gaining recognition through technological innovation and competitive pricing [9] - Key players in the industry include Guangdong Aopt Technology Co., Ltd., Hunan Changbida Optoelectronics Technology Co., Ltd., Shenzhen Shiqing Technology Co., Ltd., and others [9][10] Development Trends - Future advancements in the industrial lens sector will focus on higher resolution, larger apertures, reduced distortion, and lightweight designs, driven by innovations in optical technology and materials science [12] - Increased industry consolidation and collaboration among companies are expected to enhance competitiveness and resource sharing [13] - The domestic market is likely to see accelerated replacement of foreign products with local alternatives, supported by government policies promoting innovation and R&D investment [14]

Core Insights - The company reported a total revenue of 9.858 billion yuan for the fiscal year 2025, marking a significant year-on-year growth of 76.85%. However, the net profit attributable to shareholders decreased by 3.08% to 964 million yuan, indicating pressure on profitability despite strong revenue growth [1]. Group 1: Financial Performance - Total revenue for 2025 reached 9.858 billion yuan, reflecting a year-on-year increase of 76.85% [1] - Net profit attributable to shareholders was 964 million yuan, showing a decline of 3.08% compared to the previous year [1] - The company acknowledged challenges in profitability due to raw material price fluctuations and intensified market competition [1] Group 2: Strategic Focus - The company is focusing on building a growth curve by investing in strategic initiatives, particularly in new products like handheld gimbal cameras [1] - The strategic shift is moving from a singular focus on panoramic sports imaging to a more mainstream market, with products like the Pocket series camera becoming a key focus [1] - The upcoming handheld gimbal camera, Luna, is set to launch in the first half of the year and is expected to differentiate itself with long-focus capabilities [2][3] Group 3: Market Positioning - The launch of Luna is seen as a direct challenge to industry giants, particularly targeting the market dominance of DJI's Pocket series [3] - The introduction of Luna with long-focus technology aims to create a differentiated product offering in the handheld gimbal camera market [3] - The company's ability to successfully penetrate the mass consumer market with new products like Luna is under scrutiny [4]

Core Viewpoint - Yingstone Innovation Technology Co., Ltd. reported a significant revenue increase of 76.85% year-on-year, reaching 9.858 billion yuan for the year 2025, marking a historical peak in revenue [2] Group 1: Financial Performance - The company achieved a total revenue of 9.858 billion yuan in 2025, a substantial increase of 76.85% compared to the previous year [2] - Research and development (R&D) investment reached 1.649 billion yuan in 2025, exceeding the total R&D investment from 2022 to 2024 [2] - The total year-end bonus for employees increased by 100% compared to the previous year, with nearly 30 million yuan allocated for additional project bonuses covering over 70% of staff [2] Group 2: Strategic Focus and Product Development - Yingstone Innovation is focusing on building a business growth curve, with new products like the handheld gimbal camera "Luna" being a key focus [3] - The company plans to accelerate the pace of product launches, with the number of new products in 2026 expected to exceed that of 2025 [3] - The company is positioning itself as a leader in the global panoramic camera market while expanding into action cameras, smart accessories, and drones [3] Group 3: Market Challenges and Long-term Outlook - The company faces challenges from raw material price fluctuations and intensified market competition, which may impact profitability [2][3] - Despite short-term challenges, the long-term growth logic for Yingstone Innovation remains clear, supported by strong core technology barriers and high R&D investment [3] - Analysts project a compound annual growth rate (CAGR) of 53% for the company's revenue from 2025 to 2030, driven by its advantages in imaging algorithms, AI capabilities, and ecosystem accessories [3]

影石创新公告称，2025年实现营收985,790.48万元，同比增76.85%；净利润96,407.08万元，同比降 3.08%；扣非净利润88,196.06万元，同比降6.74%。报告期末，总资产1,108,343.08万元，较期初增加 120.75%；归母所有者权益585,040.54万元，较期初增加83.91%。营收增长得益于市场开拓与新品推 出，净利润下滑因研发投入达16.49亿元以构建业务增长曲线，且受原材料价格及竞争影响。公司于 2025年完成IPO，影响相关财务指标。 ...

影石创新披露业绩快报，2025年公司实现营业收入98.58亿元，同比增长76.85%；实现归属于母公司所 有者的净利润9.64亿元，同比降低3.08%；基本每股收益2.53元。报告期内，公司积极加大市场开拓力 度、持续加快新产品研发迭代与推向市场节奏、线上线下销售渠道协同发力，推动销售规模稳步扩大。 公司聚焦于业务增长曲线构建，如以手持云台相机等新品为重要着力点，进行了前瞻性战略投入。但原 材料价格波动、市场竞争加剧等因素对公司盈利能力构成较大挑战，公司将积极应对挑战，不断提升综 合竞争力。 ...

Core Insights - The founder of the company, Liu Jingkang, announced that the number of new products in 2026 will significantly exceed that of the previous year [2][4] - The company unveiled its first handheld gimbal camera named "Luna," which is expected to be the first in the market with a telephoto feature [2][4] Awards and Incentives - During the annual meeting, the company awarded 5 sets of real estate in the Greater Bay Area and 6 luxury cars, including Porsche and BMW, attracting public attention [2][4] - The average age of this year's winners is under 32, with all recipients being from the post-90s generation [2][4] - Employees who won real estate can choose from two high-quality residential communities with beautiful environments and complete amenities [2][4] - The company continued its tradition of giving away cars, offering a total of 33 vehicles, valued at over 10 million [2][4] - Additional prizes included 36 grams of customized gold paper, iPhone 17 Pro, and 3,600 other gifts, with a winning rate of 80% [2][4]

Core Insights - The company YingShi Innovation held its annual meeting on February 11, where founder Liu Jingkang announced the upcoming release of a cloud gimbal camera in the first half of the year, along with the unveiling of its first handheld cloud gimbal camera named "Luna" [1] - YingShi has invested several million yuan in the research and development of modular handheld cloud gimbal cameras since 2023 [1] - Liu Jingkang indicated that due to sustained high-intensity R&D investments, the number of new products in 2025 is expected to reach a record high since the company's establishment, with projections for 2026 to exceed the number of new products in 2025 [1]