（记者 张明双） 每经AI快讯，有投资者在投资者互动平台提问：有报道说春节期间大火的电影《飞驰人生3》中拍摄所 用的全景相机和车载全景摄像头全部都是公司提供的，请问董秘该消息是否属实？贵公司的全景相机和 车载全景摄像头在影片和视频拍摄中有什么独特的优势？ 影石创新（688775.SH）2月25日在投资者互动平台表示，公司致力于在垂类场景创造独特的体验和竞 争力，现已在智能影像设备领域具有卓越的产品设计、研发能力，拥有多项核心技术，已成为公司的核 心竞争力之一。影石Titan VR摄像机和X5全景相机助力电影《飞驰人生3》部分场景拍摄，以专业的影 像技术，拓宽记录的边界。 ...

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 Insights - The company reported a record revenue of 9.858 billion yuan for the fiscal year 2025, marking a year-on-year increase of 76.85% [1] - The net profit attributable to the parent company was 964 million yuan, showing a slight decline of 3.08% year-on-year, while the non-recurring net profit decreased by 6.74% to 882 million yuan [1] - The fourth quarter revenue reached 3.247 billion yuan, a significant year-on-year growth of 100.43%, setting a new record for quarterly revenue [1] - The actual net profit fell short of market expectations, with a consensus forecast of approximately 1.119 billion yuan from 19 institutions, highlighting the first decline in net profit since the company began disclosing financial data [1] Financial Performance - Total assets at the end of 2025 amounted to 11.083 billion yuan, representing a substantial increase of 120.75% compared to the beginning of the reporting period [1] - Equity attributable to the parent company grew by 83.91% year-on-year, reaching 5.85 billion yuan, primarily due to funds raised from the initial public offering (IPO) and operational capital accumulation [1] - The weighted average return on net assets decreased, attributed to the increased financing amount and expanded net asset scale following the IPO [1] Strategic Initiatives - The company is actively expanding its market presence and launching new products, leveraging both online and offline sales channels to steadily increase sales volume [2][3] - Significant investment in research and development (R&D) reached 1.649 billion yuan in 2025, exceeding the total R&D investment from 2022 to 2024, focusing on core areas such as custom chips and strategic projects [3] - The company faces challenges to profitability due to fluctuations in raw material prices and intensified market competition, but it aims to enhance its overall competitiveness [3]

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 Viewpoint - Yingstone Innovation Technology Co., Ltd. reported significant revenue growth for the fiscal year 2025, with a record high in Q4 revenue and increased investment in core R&D areas to strengthen its competitive edge [1][3]. Financial Performance - In 2025, the company achieved total revenue of 9.858 billion yuan, representing a year-on-year increase of 76.85% [1]. - Q4 revenue reached 3.247 billion yuan, marking a year-on-year growth of 100.43% [1]. - The net profit attributable to the parent company was 964 million yuan, showing a slight decline of 3.08% year-on-year [3]. Growth Drivers - The substantial revenue increase was attributed to enhanced market expansion efforts, accelerated new product development and launch schedules, and the synergistic effect of online and offline sales channels [3]. - The company significantly increased R&D investment, totaling 1.649 billion yuan in 2025, which exceeds the combined R&D investment from 2022 to 2024 [3]. Market and Product Strategy - The company is expanding its domestic market presence through e-commerce platforms like JD.com, Tmall, and Taobao, as well as opening offline brand stores in major cities [4]. - It aims to diversify its product offerings beyond sports scenarios to include a broader range of daily life applications, while maintaining a strategy that combines consumer-grade, professional-grade, and accessory products [4]. Technological Innovation - AI technology is central to the company's product upgrades, with developments in key AI technologies for content production and hardware collaboration to enhance product performance [4]. - The company plans to leverage its technological expertise and brand advantages in the smart imaging device sector to meet diverse market demands through high-value products and services [4].

Core Viewpoint - The company, YingShi Innovation, reported a significant revenue increase for the fiscal year 2025, but experienced a decline in net profit, indicating a "growth in revenue without profit" scenario, which fell short of institutional expectations [1][2]. Financial Performance - The company achieved a total revenue of 9.858 billion yuan, marking a year-on-year increase of 76.85% [1]. - The net profit attributable to shareholders was approximately 964 million yuan, reflecting a year-on-year decrease of 3.08% [1]. - The non-recurring net profit was about 882 million yuan, down 6.74% year-on-year [1]. - Total assets grew by 120.75% to approximately 11.083 billion yuan by the end of 2025 [1]. - Shareholder equity increased by 83.91% to around 5.85 billion yuan [1]. - The total share capital rose by 11.39% to 401 million shares [1]. Market Reaction - Following the earnings report, the company's stock price declined from a peak of 377.77 yuan per share in September 2025 to 224.7 yuan per share by February 13, representing a cumulative drop of 35.76% [4]. - The total market capitalization stood at 90.105 billion yuan [4]. R&D Investment - Research and development expenditure reached 1.649 billion yuan, exceeding the total of the previous three years (2022-2024) [1]. Employee Engagement and Incentives - The company held a notable annual meeting where it distributed high-value prizes, including five luxury apartments and a Porsche, to employees, emphasizing the importance of material incentives alongside intrinsic motivation [4][5]. - The total year-end bonus for 2025 increased by 100% compared to the previous year, with additional project bonuses totaling nearly 30 million yuan, benefiting over 70% of employees [4]. Future Outlook - The CEO announced that Q4 2025 was the highest revenue quarter in the company's history and the fastest growth quarter in the past ten quarters [5]. - A new dual-camera gimbal product named "Luna" is set to be launched in the first half of 2026 [5].

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]

【环球网财经报道 记者 李文瑶】2月13日，影石创新（688775.SH）发布2025年度业绩快报。数据显示，公司全年实现营业总收入98.58亿元，同比增长 76.85%，营收规模创下历史新高；归母净利润为9.64亿元，同比微降3.08%。 | 项目 | 本报告期 | 上年同期 | 増減变动幅度(% | | --- | --- | --- | --- | | 营业总收入 | 985,790.48 | 557,412.56 | 70 | | 营业利润 | 88.377.81 | 105.829.06 | -11 | 年会上，创始人刘靖康首次公开手持云台相机新品，正式命名为"Luna"，并强调"这绝不是另一个Pocket"。该产品预计将于2026年上半年上市，或成为首款 具备长焦功能的手持云台相机。刘靖康表示，2026年公司新品数量将超过2025年，产品发布节奏将进一步提速。 对于业绩增长，影石创新表示，主要得益于公司积极加大市场开拓力度，加速新品研发迭代与上市，线上线下渠道协同发力。与此同时，公司持续加码研发 投入，2025年研发投入达16.49亿元，超过2022年至2024年三年总和，重点投向芯片定制及战略项 ...

Group 1 - The core viewpoint of the article highlights that YingShi Innovation (688775) achieved a record high revenue of 9.858 billion yuan in 2025, representing a year-on-year growth of 76.85%, while the net profit attributable to shareholders decreased by 3.08% to 964 million yuan [2] - The revenue growth is attributed to the company's aggressive market expansion, accelerated new product development, and collaboration between online and offline channels [2] - The company increased its R&D investment to 1.649 billion yuan in 2025, surpassing the total R&D investment from 2022 to 2024, focusing on core areas such as customized chips and strategic projects to strengthen its technological moat [2] Group 2 - YingShi Innovation's year-end bonus total increased by 100% compared to the previous year, with the introduction of the "Summer Rain Incentive" program, distributing nearly 30 million yuan in additional project bonuses covering over 70% of employees [5] - The company has a history of innovative employee engagement initiatives, such as a weight loss program rewarding employees with 500 yuan for each kilogram lost, and has consistently celebrated "Programmer's Day" with special rewards for engineers [7] - The chairman, Liu Jingkang, emphasized the company's belief in long-term value over short-term profits and introduced a new handheld gimbal camera named "Luna," which is expected to launch in the first half of the year and may be the first handheld gimbal camera with a telephoto function [7]