Core Viewpoint - YingShi Innovation experienced a significant stock price increase of 18.84% on August 28, with a trading volume of 3.067 billion yuan, indicating strong market interest and activity [1] Financing Summary - On August 28, YingShi Innovation had a financing buy amount of 366 million yuan, with a financing repayment of 368 million yuan, resulting in a net financing outflow of 1.42 million yuan [1] - As of August 28, the total financing and securities lending balance for YingShi Innovation was 993 million yuan, which represents 9.25% of its circulating market value [1] - There were no shares sold or repaid in the securities lending segment on August 28, with a remaining balance of 0 shares and 0 yuan [1] Business Performance Summary - As of June 30, YingShi Innovation had 17,000 shareholders, a decrease of 27.52% from the previous period, while the average circulating shares per person increased by 37.96% to 1,795 shares [2] - For the first half of 2025, YingShi Innovation reported a revenue of 3.671 billion yuan, reflecting a year-on-year growth of 51.17%, and a net profit attributable to shareholders of 520 million yuan, which is a slight increase of 0.25% year-on-year [2] - The company’s main business revenue composition includes 86.06% from consumer-grade smart imaging devices, 12.63% from accessories and other products, 1.01% from supplementary items, and 0.30% from professional-grade smart imaging devices [1][2] Shareholder Composition Summary - As of June 30, 2025, the top ten circulating shareholders of YingShi Innovation included several new institutional investors, with the largest being Bosera Huixing Return Mixed Fund, holding 612,400 shares [2] - Other notable new shareholders include Morgan Emerging Power Mixed Fund and Morgan Vision Two-Year Holding Mixed Fund, holding 606,700 shares and 365,800 shares respectively [2]

Group 1 - The core viewpoint of the articles highlights the strong financial performance of the company, with a significant increase in revenue and stable net profit growth [1][2] - The company's operating revenue for the first half of 2025 reached 3.671 billion yuan, representing a year-on-year growth of 51.17% [1] - The net profit attributable to shareholders was 520 million yuan, showing a slight increase of 0.25% year-on-year, while the net profit after deducting non-recurring gains and losses was 492 million yuan, up by 0.06% [1] - The basic earnings per share stood at 1.43 yuan [1] - The company reported that there were no significant changes in its procurement, production, sales models, major customers, suppliers, management, or tax policies during the reporting period [1] - The increase in operating revenue is attributed to the company's continuous market expansion, new product launches, and the growth of online and offline sales [1] - However, the net cash flow from operating activities decreased year-on-year due to increased procurement of raw materials [1] Group 2 - The company plans to launch two brands of drone products, including its own brand and the Yingling Antigravity panoramic drone brand [2] - The panoramic drone business will be operated in collaboration with third parties under the Yingling Antigravity brand [2] - Currently, the panoramic drone product is in the public testing phase, with production issues still being resolved, and it has not yet generated actual revenue [2] - The anticipated impact of the new drone products on the company's operating performance for 2025 is expected to be minimal [2]

Group 1 - The core viewpoint of the articles highlights the strong financial performance of the company, with a significant increase in revenue and stable net profit growth [1][2] - The company's operating revenue for the first half of 2025 reached 3.671 billion yuan, representing a year-on-year growth of 51.17% [1] - The net profit attributable to shareholders was 520 million yuan, showing a slight increase of 0.25% year-on-year [1] - The net profit after deducting non-recurring gains and losses was 492 million yuan, with a year-on-year growth of 0.06% [1] - The basic earnings per share stood at 1.43 yuan [1] - The company reported a decline in net cash flow from operating activities due to increased procurement of raw materials [1] Group 2 - The company plans to launch two brands of drone products, including its own brand and the Antigravity panoramic drone brand [2] - The panoramic drone business will be operated in collaboration with a third party under the Antigravity brand [2] - Currently, the panoramic drone product is in the public testing phase, with mass production issues still being resolved, and it has not yet generated actual revenue [2] - The anticipated impact of the new drone products on the company's 2025 operating performance is expected to be minimal [2]

Group 1 - The core viewpoint of the article is that YingShi Innovation (688775) reported a slight increase in net profit for the first half of 2025, despite a significant rise in revenue [1] - In the first half of 2025, the company achieved a revenue of approximately 3.671 billion yuan, representing a year-on-year growth of 51.17% [1] - The net profit attributable to shareholders for the same period was about 520 million yuan, showing a modest year-on-year increase of 0.25% [1] Group 2 - YingShi Innovation has been focused on the research, development, production, and sales of smart imaging devices such as panoramic cameras and action cameras since its establishment [1]

Core Viewpoint - The company reported a significant revenue growth of 51.17% year-on-year, reaching 3.671 billion yuan, while net profit saw a slight increase of 0.25% to 520 million yuan, attributed to strategic investments in technology and market development [1] Financial Performance - Revenue for the first half of 2025 was 3.671 billion yuan, marking a 51.17% increase compared to the previous year [1] - The net profit attributable to shareholders was 520 million yuan, showing a marginal increase of 0.25% year-on-year [1] - Research and development expenses doubled year-on-year, accounting for 15.3% of total revenue, significantly above the industry average [1] Innovation and Product Development - The company added 98 new authorized patents in the first half of 2025, bringing the total to nearly 1,000, including 222 invention patents, enhancing its technological reserves [1] - New products launched this year, such as the panoramic camera X5, Ace Pro 2 street photography kit, and GO Ultra, have been well received in the market [1] - The company plans to introduce two brands of drone products, including its own brand and a co-developed panoramic drone brand "影翎Antigravity," currently in public testing [1] Market Strategy - The company is focusing on strategic investments in key areas, particularly in technology research and market expansion, which has led to a temporary slowdown in profit growth [1] - The panoramic drone products are still in the testing phase and have not yet generated actual revenue, with no significant impact expected on the 2025 operating performance [1]

Financial Performance - Company achieved operating revenue of 3.671 billion yuan, a year-on-year increase of 51.17% [1] - Net profit reached 520 million yuan, with a slight year-on-year growth of 0.25% [1] - Cash flow from operating activities was 241 million yuan, down 60.22% from 606 million yuan in the same period last year [1] - R&D expenses amounted to 562 million yuan, a significant increase of 100.35% compared to 280 million yuan last year, with R&D investment accounting for 15.30% of operating revenue, up from 11.55% [1] Patent and Technology Development - As of June 30, 2025, the company held 998 authorized patents, including 222 invention patents, 378 utility model patents, and 398 design patents [1] - During the reporting period, the company applied for 69 invention patents, 32 utility model patents, and 52 design patents, with 101 new patents authorized, enhancing its technology reserves [1] Product and Market Strategy - Company has established a core technology system based on panoramic technology, including image capture, stabilization, AI image processing, and computational photography [2] - Main products include consumer-grade and professional-grade smart imaging devices, such as ONEX series panoramic cameras and Ace series action cameras [2] - The company employs a global sales model combining online and offline channels, with 72.38% of overseas sales concentrated in the US, Japan, and Europe [3] New Business Initiatives - Company is targeting the drone market with plans to launch its own brand and the Yingling Antigravity panoramic drone brand, currently in public testing [3] - The panoramic drone business will be operated in collaboration with third parties to cover more usage scenarios [3] Risk Management - Company is optimizing its overseas supply chain to address international trade friction and tariff risks [3] - In response to the ITC investigation, preliminary rulings indicate that only some products fall under GoPro's design patent, with no substantial impact on production and operations [3]

中信证券股份有限公司 关于影石创新科技股份有限公司 放弃参股公司优先增资权暨关联交易 的核查意见 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）作为影石创 新科技股份有限公司（以下简称"影石创新"或"公司"）首次公开发行股票和 持续督导工作的保荐人，根据《中华人民共和国公司法》《中华人民共和国证券 法》《证券发行上市保荐业务管理办法》《上海证券交易所科创板股票上市规则》 等相关规定，对公司本次放弃参股公司东莞市融光光学有限公司（以下简称"融 光光学"）优先增资权暨关联交易的事项进行了核查，具体情况如下： 一、关联交易概述 公司持有 20%股权的融光光学因自身经营发展需要，拟进行增资扩股引入投 资者和谐超越中小企业发展基金（宜兴）合伙企业（有限合伙）（以下简称"和谐 超越基金"）、深圳市稳正长优创业投资企业（有限合伙）（以下简称"稳正长优基 金"）、陆永杰。本次增资扩股金额合计为人民币 5,870.00 万元，其中拟新增注册 资本 546.5315 万元以及增加资本公积 5,323.4685 万元。其中，和谐超越基金拟 出资人民币 5,000.00 万元认购，其中 465.5294 万元计入注册资本， ...

中信证券股份有限公司 关于影石创新科技股份有限公司 增加2025年度日常关联交易预计额度 的核查意见 中信证券股份有限公司（以下简称"中信证券"或"保荐人"）作为影石创 新科技股份有限公司（以下简称"影石创新"或"公司"）首次公开发行股票和 持续督导工作的保荐人，根据《中华人民共和国公司法》《中华人民共和国证券 法》《证券发行上市保荐业务管理办法》《上海证券交易所科创板股票上市规则》 等相关规定，对公司本次增加 2025 年度日常关联交易预计额度的事项进行了核 查，具体情况如下： 一、日常关联交易的基本情况 （一）日常关联交易履行的审议程序 公司于 2025 年 3 月 31 日召开的第二届董事会第十二次会议、第二届监事会 第八次会议分别审议通过了《关于审核确认 2024 年关联交易及 2025 年度日常关 联交易预计的议案》，公司预计 2025 年度与东莞市融光光学有限公司（以下简称 "融光光学"）日常关联交易额度为人民币 900 万元（不含税），本议案关联董事 已回避表决。 在前述董事会召开前，公司召开第二届董事会独立董事专门会议 2025 年第 一次会议，审议通过了《关于审核确认 2024 年关联交易及 ...

| 买入营业部名称 | 买入金额(万元) | | --- | --- | | 中信证券股份有限公司上海分公司 | 10213.03 | | 国泰海通证券股份有限公司总部 | 9812.02 | | 机构专用 | 5373.60 | | 国信证券股份有限公司公司总部 | 4906.68 | | 中国国际金融股份有限公司上海分公司 | 4903.35 | | 卖出营业部名称 | 卖出金额(万元) | | 中信证券股份有限公司上海分公司 | 15548.83 | | 国泰海通证券股份有限公司总部 | 11877.63 | | 瑞银证券有限责任公司上海花园石桥路证券营业部 | 11598.10 | | 高盛(中国)证券有限责任公司上海浦东新区世纪大道证券营业部 | 7520.33 | | 摩根大通证券(中国)有限公司上海银城中路证券营业部 | 6787.85 | 8月28日影石创新(688775)收盘价352.00元，收盘上涨18.84%，全天换手率30.69%，振幅20.93%，成交 额30.67亿元。科创板交易公开信息显示，当日该股因日换手率达30%、日收盘价涨幅达15%等上榜。 证券时报·数据宝统计显示，上榜的 ...

影石创新科技股份有限公司信息披露管理办法 影石创新科技股份有限公司 （二） 各职能部门、分公司、直接或间接控制的子公司的主要负责人和相关 工作人员； （三） 公司可施加重大影响的参股公司的主要负责人和相关工作人员； （四） 公司的其他关联方； （五） 其他知晓可能对公司股票及其衍生品种交易价格产生较大影响的重大 事件或信息的单位或人员。 信息披露管理办法 第一章 总则 第一条 为加强对影石创新科技股份有限公司（以下简称"公司"）信息披露 工作的管理，规范公司的信息披露行为，保证公司真实、准确、完整地披露信息， 维护公司股东特别是社会公众股东的合法权益，依据《中华人民共和国公司法》（以 下简称"《公司法》"）、《中华人民共和国证券法》（以下简称"《证券法》"）、 《上市公司信息披露管理办法》《上市公司治理准则》《上海证券交易所科创板股 票上市规则》（以下简称"《科创板上市规则》"）等有关法律、法规和规范性文 件及《影石创新科技股份有限公司章程》（以下简称"《公司章程》"）的有关规 定，特制定本办法。 第二条 公司及相关信息披露义务人应当依照相关法律、法规和规范性文件以 及本办法的规定，及时、公平地披露所有对公司 ...