格隆汇8月1日丨弘景光电(301479.SZ)于投资者互动平台表示，公司产品主要应用于智能家居、智能汽 车和全景/运动相机三大领域。公司产品可以应用于无人机，公司积极关注并跟进相关领域的业务机 会。公司与影石创新是战略合作关系，未来根据实际情况积极推动与影石创新在影像相关各个领域的深 入合作。公司具体业务情况请关注公司的定期报告及相关公告。 ...

大疆近日发布了首款全景相机Osmo360 8K，起售价2999元，目前该产品在大疆官网已显示缺货。影石 创新创始人刘靖康表示，公司进军无人机市场是基于使命愿景、客户需求和能力提升三方面考虑，并认 为与大疆的竞争将激发市场活力。 风险提示：行业竞争加剧可能对公司业绩产生影响，新产品研发和市场拓展存在不确定性。 影石创新是一家专注于智能影像设备的科技企业，主要产品包括全景相机和运动相机。公司近期与第三 方合作推出消费级无人机品牌"影翎Antigravity"，计划推出全球首款全景无人机。 影石创新股价报175.29元，较前一交易日下跌4.99元。开盘价为178.88元，最高触及181.88元，最低下探 174.72元，成交量为29284手，成交金额达5.20亿元。 ...

Investment Rating - The report maintains a "Buy" rating for the company, with a projected net profit of 1.15 billion, 1.69 billion, and 2.43 billion yuan for 2025, 2026, and 2027 respectively, corresponding to PE ratios of 57.4X, 39.0X, and 27.1X [3]. Core Viewpoints - The launch of the new drone sub-brand "Yingling Antigravity" is expected to open up a blue ocean market, potentially leading to significant revenue growth for the company [2][3]. - The global aerial drone market is projected to grow from 7.1 billion USD in 2023 to 12.2 billion USD by 2030, with a compound annual growth rate (CAGR) of approximately 7.6% [3]. - The company is positioned to leverage its innovation capabilities and advantages in image algorithms and AI editing to become a strong competitor in the market [3]. Summary by Sections Company Overview - Yingstone Innovation has launched the world's first 8K panoramic drone, aiming to enhance user experience through innovative product features [2]. - The company has a history of product innovation, having previously released a 5.7K external panoramic camera drone [2]. Market Potential - The report highlights the significant growth potential in the drone market, with DJI currently holding over 70% market share but facing competition from Yingstone Innovation's innovative products [3]. - The company is expected to benefit from a comprehensive product matrix that includes panoramic cameras, action cameras, and drones, capitalizing on the increasing penetration of these products in the market [3]. Financial Projections - The total revenue is projected to grow from 3.64 billion yuan in 2023 to 16.46 billion yuan in 2027, with a year-on-year growth rate of 78.2% in 2023 and gradually decreasing to 39.8% by 2027 [5]. - The gross profit margin is expected to remain stable around 51.5% to 56.0% over the forecast period [5].

证券代码：688775 证券简称：影石创新 公告编号：2025-013 影石创新科技股份有限公司 重要内容提示： 本次会议是否有被否决议案：无 一、 会议召开和出席情况 （一） 股东会召开的时间：2025 年 07 月 28 日 2025年第一次临时股东会决议公告 本公司董事会及全体董事保证公告内容不存在任何虚假记载、误导性陈述或 者重大遗漏，并对其内容的真实性、准确性和完整性依法承担法律责任。 （二） 股东会召开的地点：深圳市宝安区新安街道海旺社区兴业路 1100 号金利 通金融中心大厦 T1 栋 23 楼 08 号会议室 （三） 出席会议的普通股股东、特别表决权股东、恢复表决权的优先股股东及 其持有表决权数量的情况： | 1、出席会议的股东和代理人人数 | 227 | | --- | --- | | 普通股股东人数 | 227 | | 2、出席会议的股东所持有的表决权数量 | 188,945,056 | | 普通股股东所持有表决权数量 | 188,945,056 | | 3、出席会议的股东所持有表决权数量占公司表决权数量的比 | 47.1184 | | 例（%） | | | 普通股股东所持有表决权数量占公 ...

深圳市福田区金田路 4018 号安联大厦 B 座 11 楼 电话:0755-88286488 传真:0755-88286499 邮编:518026 北京德恒（深圳）律师事务所 关于影石创新科技股份有限公司 2025 年第一次临时股东会的法律意见 北京德恒（深圳）律师事务所 关于影石创新科技股份有限公司 北京德恒（深圳）律师事务所 关于影石创新科技股份有限公司 2025 年第一次临时股东会的 法律意见 2025 年第一次临时股东会的 法律意见 德恒 06G20250282-00001 号 致：影石创新科技股份有限公司 影石创新科技股份有限公司（以下简称"公司"）2025 年第一次临时股东会 （以下简称"本次会议"）于 2025 年 7 月 28 日（星期一）召开。北京德恒（深圳） 律师事务所（以下简称"德恒"）受公司委托，指派徐帅律师、孙静曲律师（以下 简称"德恒律师"）出席了本次会议。根据《中华人民共和国证券法》（以下简称 "《证券法》"）、《中华人民共和国公司法》（以下简称"《公司法》"）、中国 证券监督管理委员会《上市公司股东会规则》（以下简称"《股东会规则》"）、 《影石创新科技股份有限公司章程》（以下 ...

Core Insights - The company, YingShi Innovation, faced significant challenges during its early years, including a funding crisis and industry downturn, which shaped its resilience and innovative approach [2][6] - The core value of smart consumer devices lies in addressing unmet user needs, with YingShi focusing on creating emotional connections through its imaging products [3][4] - The company emphasizes the importance of creating differentiated products and leveraging technology to capture market opportunities, leading to a competitive advantage [3][5] Company Development - YingShi Innovation has successfully expanded its product line to include panoramic cameras, action cameras, and video conferencing cameras, reaching millions of users globally [3][11] - The company experienced a critical moment in 2016 when it faced a funding crisis, with only 30,000 yuan left, but secured investment from IDG, which was pivotal for its survival and growth [6][7] - The listing on the STAR Market (科创板) represents a significant milestone for the company, providing a more favorable environment for technology firms and enabling further investment in R&D [7][8] Global Strategy - YingShi Innovation adopted a global expansion strategy from its inception, avoiding the intense domestic price competition by targeting mature overseas markets [10] - The company positions itself with a high-price, high-value strategy, offering products that are 20%-30% more expensive than competitors while delivering unique experiences [10][11] - The robust Chinese supply chain and supportive policies have facilitated YingShi's international growth, allowing it to leverage advantages in technology and resources [10][11] Future Outlook - The company aims to continue its focus on the imaging sector, with a vision to innovate and create new product categories over the next five to ten years [11] - YingShi has invested 1.48 billion yuan in R&D over the past three years, representing 13.16% of its total revenue, and plans to maintain a high proportion of technical personnel [11]

Investment Rating - The report gives an "Accumulate" rating for the company, marking its first coverage in the market [5][7]. Core Views - The company is a leader in smart imaging devices, continuously driving industry development. The global smart imaging device market is expected to grow significantly, with the company holding over 60% market share in panoramic cameras [6][9]. Summary by Sections 1. Smart Imaging Devices: Industry Size Over 40 Billion, Steady Growth - Smart imaging devices, including panoramic and action cameras, are lightweight and intelligent, significantly lowering the barriers to content creation compared to traditional devices [15]. - The global market for handheld smart imaging devices is projected to exceed 400 billion yuan in 2024, with a CAGR of 15.1% from 2019 to 2024 [33][37]. 2. Company Overview: Global Smart Imaging Leader with a Young and Focused Team - The company was founded in 2015 and has a stable management team primarily composed of young professionals. It focuses on consumer-grade imaging devices, with annual shipments exceeding 2.2 million units [6][9]. 3. Competitive Advantages: Efficient Product Iteration, Early Channel and Brand Positioning - The company has strong demand insight and rapid product iteration capabilities, allowing it to lead the market. It has established a global presence with over 70% of revenue from overseas markets and a wide offline channel network [6][9]. - The brand has cultivated a high-end image through collaborations with well-known KOLs in technology, photography, and sports [6][9]. 4. Market Space and Profit Forecast - The company is expected to achieve revenues of 8.2 billion yuan in 2025, with a year-on-year growth rate of 47.26%. The net profit attributable to shareholders is projected to be 1.18 billion yuan, reflecting a growth rate of 18.6% [5][7]. - The report anticipates that the company will maintain a high growth trajectory in both domestic and international markets, benefiting from the ongoing expansion of the smart imaging device industry [9][10].

Fundraising Overview - The company has completed its initial public offering (IPO) of 41 million shares at a price of 47.27 RMB per share, raising a total of 1.93807 billion RMB, with a net amount of 1.7477661 billion RMB after deducting issuance costs [1] Fund Management and Supervision - The company has established a special account for the raised funds at Industrial Bank Co., Ltd., Shenzhen Baoan Branch, and signed a tripartite supervision agreement with the sponsor, CITIC Securities [2][3] - The special account is exclusively for the storage and management of the excess funds raised from the IPO, and cannot be used for any other purposes [3][4] Tripartite Supervision Agreement - The agreement stipulates that the company (Party A), the bank (Party B), and the sponsor (Party C) will adhere to relevant regulations and ensure proper management of the raised funds [4][5] - Party C will conduct ongoing supervision of the fund management and usage, including on-site inspections and inquiries [5][6] - The bank is required to provide monthly account statements to both the company and the sponsor [6][7] Fund Usage and Withdrawal Conditions - Any withdrawal exceeding 20% of the net amount raised must be reported to the sponsor within five working days [6][7] - The agreement allows for the investment of temporarily idle funds in cash management products, provided that it does not affect the planned investment of the raised funds [3][4] Legal and Compliance - The agreement includes provisions for dispute resolution through arbitration in Beijing, and any violations of the agreement will result in liability for the offending party [7][8]

Fundraising Overview - The company has received approval from the China Securities Regulatory Commission for its initial public offering (IPO) of 41 million shares at a price of 47.27 yuan per share, raising a total of 1.938 billion yuan, with a net amount of 1.748 billion yuan after deducting issuance costs [1][2]. Fund Management and Supervision Agreement - The company has established a special fundraising account at Industrial Bank Co., Ltd. Shenzhen Baoan Branch to manage the raised funds, and has signed a tripartite supervision agreement with its sponsor, CITIC Securities, and the bank [1][2]. - The special account is exclusively for the storage and use of the funds raised from the IPO and cannot be used for other purposes [2][3]. Key Provisions of the Tripartite Agreement - The company can invest temporarily idle funds from the special account in cash management products, provided it complies with relevant regulations and informs the sponsor of the details [3][4]. - The sponsor is responsible for ongoing supervision of the company's fund management and usage, with the right to conduct on-site investigations and inquiries [5][6]. - The bank must provide monthly account statements to both the company and the sponsor, ensuring transparency in fund management [6][7]. Termination and Dispute Resolution - The agreement can be terminated unilaterally by the company if the bank fails to provide timely account statements or does not cooperate with the sponsor's inquiries [7][8]. - Any disputes arising from the agreement will be resolved through negotiation, and if unsuccessful, will be submitted to the Beijing Arbitration Commission for final resolution [8].

证券代码：688775 证券简称：影石创新 公告编号：2025-012 影石创新科技股份有限公司 公司于 2025 年 7 月 10 日召开第二届董事会第十四次会议、第二届监事会第 十次会议，审议通过了《关于新增设立募集资金专户及授权签订募集资金专户监 管协议的议案》，同意公司在兴业银行股份有限公司深圳宝安支行（以下简称"兴 业银行深圳宝安支行"）新增开立募集资金专项账户对超募资金进行存储、使用 和管理，同时授权董事长或其指派的相关人员办理募集资金专用账户的开立、募 集资金三方监管协议签署等相关事项。近日，公司与保荐机构中信证券股份有限 公司（以下简称"中信证券"）、兴业银行深圳宝安支行签订募集资金三方监管 协议，具体情况如下： 为规范公司募集资金管理和使用，保护投资者的权益，根据《上市公司募集 资金监管规则》和《上海证券交易所科创板上市公司自律监管指引第 1 号——规 范运作》等相关法规及公司《募集资金管理办法》等规定。公司与中信证券、兴 业银行深圳宝安支行签署了募集资金专户存储三方监管协议。 公司本次发行募集资金专用账户的开立情况如下： 关于开立募集资金专户并签订募集资金专户监管协 议的公告 本公司董事会 ...