影石创新科技股份有限公司 2025 年第二次临时股东会会议资料 影石创新科技股份有限公司 2025 年第二次临时股东会 会议资料 股票简称：影石创新 股票代码：688775 2025 年 10 月 影石创新科技股份有限公司 2025 年第二次临时股东会会议资料 目 录 | 2025 | 年第二次临时股东会会议须知 | | 2 | | --- | --- | --- | --- | | 2025 | | 年第二次临时股东会会议议程 | 4 | | 2025 | | 年第二次临时股东会会议议案 | 6 | | 议案一 | | 关于公司《2025 年限制性股票激励计划（草案）》及其摘要的议案 | 6 | | 议案二 | | 关于公司《2025 年限制性股票激励计划实施考核管理办法》的议案 | 7 | | 议案三 | | 关于提请股东会授权董事会办理公司2025年限制性股票激励计划相关事宜 | | | 的议案 | | | 8 | | 议案四 | | 关于制定部分公司治理制度的议案 10 | | 1 影石创新科技股份有限公司 2025 年第二次临时股东会会议资料 2025 年第二次临时股东会会议须知 为维护影石创新科技 ...

证券代码：688775 证券简称：影石创新 公告编号：2025-028 影石创新科技股份有限公司 董事会薪酬与考核委员会关于公司 2025 年限制性股票激励计划 首次授予部分激励对象名单的公示情况说明及核查意见 本公司董事会保证本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。 影石创新科技股份有限公司（以下简称"公司"）于 2025 年 9 月 24 日召 开第二届董事会第十六次会议，审议通过了《关于公司<2025 年限制性股票激励 计划（草案）>及其摘要的议案》等相关议案。根据《上市公司股权激励管理办 法》（以下简称"《管理办法》"）的相关规定，公司对 2025 年限制性股票激 励计划（以下简称"本激励计划"）首次授予部分激励对象名单在公司内部进行 了公示。公司董事会薪酬与考核委员会结合公示情况对拟首次授予的激励对象进 行了核查，相关公示情况及核查情况如下： 一、公示情况及核查方式 （一）公司对激励对象的公示情况 公司于 2025 年 9 月 25 日在上海证券交易所网站（www.sse.com.cn）上披露 了《影石创新科技股份有限公司 2025 ...

Summary of Instasize360 Conference Call Company Overview - Instasize360 is a consumer and professional imaging equipment company, leading in the panoramic camera sector with products like Go, Ace, Pro, and X series cameras. Approximately 80% of its revenue comes from overseas markets [2][7]. Financial Performance - Revenue is projected to grow from 2 billion to 5.5 billion from 2022 to 2024, with a compound annual growth rate (CAGR) exceeding 60%. Net profit is expected to rise from 400 million to around 1 billion, with a CAGR over 50%. Gross margin remains above 50%, and net profit fluctuates between 15% and 20% [2][8]. - In the first half of 2025, revenue continued to grow at 50%, but net profit declined due to increased investments in new products and channel expansion [9]. Incentive Plans - A restricted stock incentive plan for 2025 has been introduced, covering over 20% of employees, with performance targets set at 25%, 15%, and 10% year-on-year revenue growth. This plan aims to align the interests of core employees with the company's long-term growth strategy [2][10]. Research and Development - R&D expenses increased by 4 percentage points year-on-year to 14%, placing the company at the forefront of the industry. The focus is on developing a rich product line around "panorama + sports + AI" [2][11]. Market Dynamics - The global action camera shipment increased from 14 million units in 2017 to over 44 million units in 2023, while the panoramic camera market exceeded 2 million units. Domestic brands, led by Instasize, are expected to continue gaining market share [2][12]. New Product Innovations - Instasize360 is set to launch the Yingling A1 panoramic drone in January 2026, featuring 8K panoramic capabilities and combining functions of panoramic, aerial photography, and racing drones. This innovation is anticipated to drive growth in the drone market [4][13]. - The company plans to expand into more smart imaging device segments, including personal content creation, remote conferencing, and security [6][15]. Competitive Landscape - The global consumer drone market is projected to exceed 6 million units in shipments and 4 billion USD in sales by 2024. The market is dominated by aerial photography drones, with DJI holding about 80% of the market share. The introduction of panoramic drones is expected to stimulate growth in this segment [14][15]. Strategic Focus - Instasize360 is focusing on product iteration and market expansion, particularly in the action camera sector, which is undergoing significant innovation. The company aims to leverage cost reduction opportunities through supply chain localization and scale effects to enhance profitability [3][6].

融资方面，影石创新当日融资买入5290.14万元。当前融资余额8.01亿元，占流通市值的9.04%。 资料显示，影石创新科技股份有限公司位于广东省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2栋1101,1102,1103，成立日期2015年7月9日，上市日期2025年6月11日，公司主营业务涉 及全景相机、运动相机等智能影像设备的研发、生产和销售。主营业务收入构成为：消费级智能影像设 备86.06%，配件及其他产品12.63%，其他(补充)1.01%，专业级智能影像设备0.30%。 截至6月30日，影石创新股东户数1.70万，较上期减少27.52%；人均流通股1795股，较上期增加 37.96%。2025年1月-6月，影石创新实现营业收入36.71亿元，同比增长51.17%；归母净利润5.20亿元， 同比增长0.25%。 机构持仓方面，截止2025年6月30日，影石创新十大流通股东中，博时汇兴回报一年持有期混合 （011056）位居第一大流通股东，持股61.24万股，为新进股东。摩根新兴动力混合A类（377240）位居 第二大流通股东，持股60.67万股，为新进股东。摩根远见两年持有期混 ...

Core Viewpoint - The launch of the world's first 8K panoramic drone, Antigravity A1, marks the company's entry into the rapidly growing drone market, leveraging innovative technology and consumer demand for experiential products [1] Group 1: Product Innovation - Antigravity A1 features groundbreaking technology with dual hidden lenses for a "fully invisible" effect and 8K cinema-quality visuals [1] - The drone employs a "fly first, capture later" creative logic, allowing for comprehensive panoramic capture during a single flight, with AI-assisted editing to lower creative barriers [1] - The product includes Vision flight glasses and an integrated remote control system, providing an immersive flying experience [1] Group 2: Market Potential - The experiential consumption sector is thriving post-pandemic, with increased consumer interest in action cameras and drones as essential productivity tools [1] - The global drone market is projected to grow from $35.28 billion in 2024 to $67.64 billion by 2029, with a compound annual growth rate (CAGR) of 13.90% over five years [1] Group 3: AI and Marketing Strategy - The company focuses on integrating AI technology into product development, enhancing features like AI editing, color correction, and tracking through its software app [2] - The hardware includes built-in AI chips, improving performance in smart recognition and low-light conditions [2] - The company is enhancing its marketing efforts and sales channels to strengthen brand power and user loyalty, anticipating sustained sales growth from the new drone [2]

Investment Rating - The report maintains a "Buy" rating for the company [7]. Core Insights - The company's stock incentive plan is expected to benefit long-term development by binding employee interests and attracting talent [2][11]. - The incentive plan covers 695 key employees, accounting for 21.48% of the total workforce, which includes 20 foreign employees [11]. - The performance targets for the incentive plan are relatively moderate, aiming for revenue growth of 30% in 2025, 15% in 2026, and 10% in 2027 [11]. Summary by Sections Event Description - The company announced a draft for its 2025 stock incentive plan, proposing to grant a total of 1.387146 million restricted shares, representing 0.35% of the total share capital of 40.1 million shares [4]. - The initial grant and reserved grant are 1.155955 million and 231,191 shares, respectively, with a grant price of 148.92 yuan per share, which is approximately 50% lower than the closing price on September 24, 2025 [4]. Financial Projections - The company is projected to achieve net profits of 1.161 billion, 1.838 billion, and 2.700 billion yuan for the years 2025, 2026, and 2027, respectively, with corresponding P/E ratios of 102.25, 64.56, and 43.96 [11][16]. - Revenue forecasts for the same years are 8.567 billion, 12.909 billion, and 18.565 billion yuan [16]. Company Performance - The company has established itself as a leader in the global panoramic and action camera market, driven by a youthful and dynamic organizational structure [11]. - The company is actively expanding its international presence and building a comprehensive channel system, enhancing brand recognition [11].

Core Viewpoint - Investors are expressing interest in the timely release of the company's drone products, indicating a competitive pressure from established players like DJI [1] Company Progress - The company, YingShi Innovation, has responded to investor inquiries by stating that the development and launch of its related products are progressing in an orderly manner [1]

Core Viewpoint - The company, Ying Shi Innovation, has launched a stock incentive plan for its employees just three months after its IPO, aiming to motivate key personnel and align their interests with the company's growth [2][3]. Group 1: Stock Incentive Plan Details - The stock incentive plan involves granting a total of 1.3871 million restricted shares, representing approximately 0.35% of the company's total share capital at the time of the announcement [2]. - The initial grant consists of 1.1559 million shares, accounting for 83.33% of the total granted shares, while 231,200 shares are reserved for future grants, making up 16.67% [2]. - The grant price for the restricted shares is set at 148.92 yuan per share, which is a 50% discount compared to the closing price of 300.31 yuan on the announcement date [2]. Group 2: Employee Participation and Performance Metrics - A total of 695 employees will receive the initial grants, which is 21.48% of the total workforce as of June 2025, primarily targeting key employees [3]. - Among the recipients, 20 foreign employees will receive 47,200 shares, representing 3.4% of the total grants, while 675 domestic key employees will receive 1.1087 million shares, or 79.93% of the total [3]. - The performance assessment for the incentive plan is based solely on revenue growth, with targets set at a minimum of 30% and 50% growth for the fiscal years 2025 and 2026, respectively [3]. Group 3: Historical Financial Performance - From 2022 to 2024, the company reported revenues of 2.041 billion yuan, 3.636 billion yuan, and 5.574 billion yuan, with year-on-year growth rates of 53.66%, 78.16%, and 53.29% respectively [4]. - The net profits for the same years were 407 million yuan, 830 million yuan, and 995 million yuan, with growth rates of 53.3%, 103.66%, and 19.91% [4]. - In the first half of 2025, the company achieved a revenue of 3.671 billion yuan, reflecting a year-on-year growth of 51.17%, while net profit growth was significantly lower at 0.25% [4].

Core Viewpoint - The company, Yingstone Innovation Technology Co., Ltd., has announced its first stock incentive plan since going public, aiming to enhance employee motivation and loyalty through the granting of restricted stock to key employees [1][2]. Group 1: Stock Incentive Plan - The incentive plan proposes to grant a total of 1.3871 million restricted shares, accounting for approximately 0.35% of the company's total share capital of 401 million shares at the time of the announcement [1]. - The grant price for the restricted shares is set at 148.92 yuan per share [1]. - The plan targets 695 key employees, representing 21.48% of the total workforce of 3,235 employees as of mid-2025 [1]. Group 2: Performance Assessment - The performance assessment period for the first grant is set for the fiscal years 2025 and 2026, with revenue growth targets of no less than 30% for 2025 and 50% for 2026, based on the 2024 revenue of 5.574 billion yuan [2]. - According to the performance targets, the company needs to achieve revenues of at least 7.246 billion yuan in 2025 and 8.361 billion yuan in 2026 [2]. - The incentive plan is seen as a strategy to drive future growth and align employee interests with company performance [2]. Group 3: Growth Potential - The company aims to stimulate market demand through blockbuster products rather than competing in existing markets, having already achieved cumulative sales of millions of panoramic cameras [3]. - Yingstone Innovation is expanding its product offerings beyond panoramic cameras to include video conferencing cameras and smartphone gimbals, with plans to launch a new line of consumer drones [3]. - The introduction of the "Antigravity" brand for consumer drones is expected to tap into a larger market potential, addressing unmet needs and creating new usage scenarios [3].

Core Viewpoint - The A-share IPO market has demonstrated strong resilience and vitality in 2023, with significant growth in both the number of new listings and the total funds raised, despite a complex global macroeconomic environment [3][4]. Summary by Sections IPO Market Performance - In the first three quarters of 2023, a total of 75 new stocks were issued in the A-share market, an increase from 69 in the same period last year, indicating a steady upward trend [4]. - The total funds raised through IPOs reached 743.72 billion yuan, a year-on-year increase of 265 billion yuan, primarily driven by Huadian New Energy's fundraising of 181.71 billion yuan [3][4]. - The average first-day increase for the 75 new stocks was 244%, nearly doubling from the previous year's average [9]. Financing Structure - The financing structure of new stocks shows a pattern of "one company dominating, with smaller averages," where the average and median financing amounts were 9.92 million yuan and 5.5 million yuan, respectively [4]. - Huadian New Energy's IPO accounted for 24.4% of the total financing amount, highlighting its significant impact on the market [4]. Market Trends and Investor Sentiment - The overall market environment has improved, with increased risk appetite and high-quality new stocks contributing to the notable rise in the "money-making effect" of new listings [12]. - Major stock indices, including the Sci-Tech 50 and ChiNext, have risen by over 50% this year, boosting investor confidence and leading to higher valuation premiums for new stocks [12]. Notable New Listings - Several new stocks have seen exceptional performance, with some offering returns exceeding five times their issue price, such as Haibo Sichuang and Ying Shi Innovation [11]. - The top-performing new stocks are primarily in popular sectors, such as energy storage, which has attracted significant investor interest [11]. Global Comparison - The Hong Kong Stock Exchange led the global IPO financing rankings with over 180 billion HKD raised from 66 new stocks, while the Shanghai Stock Exchange ranked fifth globally with 454 billion yuan raised from 25 new stocks [8][7].