证券日报网讯 1月28日，影石创新在互动平台回答投资者提问时表示，公司新品的终端零售价主要系根 据产品的研发及生产成本、产品市场定位等多方面因素进行综合确定，关于产品数据请以公司公告和披 露信息为准。基于对行业发展趋势的研判与公司中长期战略规划，公司计划推出两个无人机品牌，包括 公司自有无人机品牌和与第三方共同孵化的影翎全景无人机品牌。截至目前，公司前述无人机品牌业务 按既定计划顺利推进，其中影翎A1全景无人机产品已实现部分区域市场的上市售卖。未来，公司会继 续夯实国内市场并加强海外业务拓展，加大全球市场推广与销售渠道建设，深入挖掘亚太、北美、欧洲 等各主要地区用户的影像需求，持续提升品牌在全球范围的渗透率和影响力。 ...

证券日报网讯 1月26日，影石创新在互动平台回答投资者提问时表示，公司严格按照法律法规的相关规 定履行信息披露义务，不存在应披露而未披露的重大信息。公司目前经营状况一切正常，二级市场股价 的短期波动受市场情绪、行业变化、公司情况、宏观因素等多方面因素的影响，公司聚焦自身业务的长 期发展，凭借在影像技术领域的深厚积累和持续创新，已经在市场上取得了显著的竞争优势。 ...

Core Viewpoint - The company is expanding its market presence in mainland China through both online and offline channels, aiming to increase market share and brand awareness [2]. Group 1: Online Sales Strategy - The company utilizes major e-commerce platforms such as JD.com, Tmall, and Taobao, along with its own official online store to broaden its online sales channels [2]. - The focus on online sales is part of a strategy to enhance market penetration and reach a wider consumer base [2]. Group 2: Offline Sales Strategy - The company collaborates with large supermarkets and distributors to promote its products and enhance brand visibility [2]. - It has opened offline brand stores in key business districts of first-tier cities like Shenzhen, Guangzhou, and Shanghai to facilitate direct sales to consumers [2]. Group 3: Future Plans - The company plans to continue strengthening its marketing efforts in mainland China and actively explore domestic online sales channels [2]. - There is an emphasis on expanding partnerships with local quality distributors to enhance cooperation [2].

（文章来源：证券日报） 证券日报网1月26日讯 ，影石创新在接受调研者提问时表示，公司产品并非局限于"运动用户"，而是致 力于构建覆盖更多日常生活场景的智能记录工具，拓展更广泛的用户基础与内容生态。公司将"持续的 产品定义能力与前瞻性的设计理念"特质贯穿于所有产品线之中，在每一个核心产品的背后，公司都尝 试以超越传统的方式去重新理解影像设备的可能性，争取将相机推向更广阔的用户圈层。公司以帮助人 们更好地记录和分享生活为使命，专注于记录和分享领域的用户价值创造。目前公司正在推动"泛人群 化"的市场拓展路径，助力实现用户群体的泛化与破圈。 ...

（文章来源：证券日报） 证券日报网1月26日讯 ，影石创新在接受调研者提问时表示，在当前行业技术迭代提速、赛道竞争加剧 的背景下，公司高度重视研发投入和业务多元化布局，以逐步实现关键环节的自主可控为长期方向，通 过主动前置性加大研发投入，强化市场拓展与品牌投入，使得上游配套投入同步加大，现部分核心技术 研发取得一定进展，对增强运营的稳定性和可持续性形成了一定支撑。公司正处于战略投入期，通过加 大市场拓展和技术创新力度来巩固行业地位。目前在研项目包括新一代运动相机、新一代一体化全景相 机、可穿戴饰品相机、手持便携式Vlog相机等。 ...

（编辑 姚尧） 证券日报网讯 1月26日，影石创新在互动平台回答投资者提问时表示，智能影像设备行业处于消费电子 前沿领域，根据国家统计局《战略性新兴产业分类（2018）》，公司属于新一代信息技术产业中 的"1.5.2智能消费相关设备制造"，不属于"传统落后产业"。二级市场股价的短期波动受市场情绪、行业 变化、公司情况、宏观因素等多方面因素的影响，公司聚焦自身业务的长期发展，凭借在影像技术领域 的深厚积累和持续创新，已经在市场上取得了显著的竞争优势。公司管理层始终高度重视全体股东利 益，聚焦于主营业务与产品创新，努力为股东创造长期价值。未来，公司有信心不断提升自身的研发能 力和品牌知名度，将持续进行研发投入，壮大研发队伍，通过对新标准的制定和新技术的研发，巩固技 术优势，开发出技术水平更高、应用领域更为广泛的新产品/服务，以高附加值的产品/服务不断满足市 场需求，全面提升公司的核心竞争力。 ...

格隆汇1月26日丨影石创新(688775.SH)近日在特定对象调研 时表示，在当前行业技术迭代提速、赛道竞 争加剧的背景下，公司高度重视研发投入和业务多元化布局，以逐步实现关键环节的自主可控为长期方 向，通过主动前置性加大研发投入，强化市场拓展与品牌投入，使得上游配套投入同步加大，现部分核 心技术研发取得一定进展，对增强运营的稳定性和可持续性形成了一定支撑。公司正处于战略投入期， 通过加大市场拓展和技术创新力度来巩固行业地位。目前在研项目包括新一代运动相机、新一代一体化 全景相机、可穿戴饰品相机、手持便携式Vlog相机等。 ...

Summary of Key Points from the Conference Call Industry Overview - **Sector**: China Consumer Sector - **Key Insights**: The sector shows signs of consumption recovery despite a near-term property market downturn. Valuation remains attractive, approximately 1 standard deviation below 10-year averages, indicating that a consumption recovery is not yet priced in [2][21]. Consumer Staples - **Baijiu**: Anticipated demand support for mid-end baijiu due to easing alcohol bans and private consumption growth. Companies are expected to accelerate channel transformations for sustainable EPS growth [3][8]. - **Beer**: Premiumization continues through product diversification and in-home channel expansion, despite on-trade softness. CR Beer expects low-single-digit volume growth in 2025, with Heineken volumes projected to grow by 20% YoY [3][8]. - **Dairy**: Liquid milk sales are expected to recover modestly in 2026, driven by marketing and innovation, despite a weak 2025. Fresh milk shows resilience with double-digit growth [3][8]. - **Freshly-Made Beverages (FMB)**: Guming is expected to maintain steady SSSG in 2026 through category expansion and dine-in growth, despite the phase-out of delivery subsidies [3][8][19]. - **Condiments**: Sequentially improving demand is expected, with Haitian focusing on multi-product categories and Jonjee anticipating a cleaner 2026 after a weak 4Q25 [3][8]. Consumer Discretionary - **Home Appliances**: Companies like Midea and Haier expect higher overseas growth compared to domestic markets in 2026. Strategies include price hikes and operational efficiencies [4][10]. - **Jewelry**: Brands with unique designs may consolidate post-VAT reform. Laopu is expected to achieve strong sales growth due to increased focus on value-added services [4][10]. - **Restaurants**: Intense competition leads to divergent strategies, with some companies lowering prices while others upgrade offerings. DPC Dash is on track for expansion despite market uncertainties [4][10]. Stock Implications - **Most Preferred Stocks**: CR Beer, Guming, MIXUE, China Foods, YUM China, among others, are highlighted as preferred investments due to their growth potential [5]. - **Least Preferred Stocks**: Companies like Swellfun, Nongfu, and Gree are noted as less favorable due to various challenges [5]. Key Risks - Risks include demand recovery uncertainties, cost inflation or deflation, and changes in the competitive landscape. These factors could significantly impact the consumer sector's performance [21]. Additional Insights - **Pet Food**: The industry is shifting towards online sales, with over 85% of sales occurring digitally. Competition is intensifying, pushing brands towards innovation and product differentiation [13]. - **Snack Sector**: Rapid category diversification and channel restructuring are creating growth opportunities, particularly through snack discounters [9][12]. This summary encapsulates the essential insights and projections from the conference call, providing a comprehensive overview of the current state and future outlook of the China consumer sector.

Core Viewpoint - The company,影石创新, is currently not involved in brain-computer interface technology but has developed a customized solution for a patient with ALS using their product, Link 2, in conjunction with third-party technology [1] Group 1: Company Technology and Products - The company provides a customized computer client called "Link Controller" that allows users to control the Link 2 camera through third-party brain-computer interfaces like Neuralink [1] - The Link 2 camera serves as a second pair of eyes for users, enabling them to see their surroundings through a camera feed displayed on a computer [1] - The company aims to leverage technology to help individuals experience life more fully and plans to continue focusing on the development, production, and sales of panoramic and action cameras [1]

Group 1 - The core viewpoint of the news is that YingShi Innovation has experienced fluctuations in its stock performance and financing activities, with a notable increase in shareholder numbers and a slight decrease in net profit year-on-year [1][2]. Group 2 - On January 21, YingShi Innovation's stock rose by 3.01%, with a trading volume of 631 million yuan. The financing buy-in amount for the day was 46.59 million yuan, while the financing repayment was 68.27 million yuan, resulting in a net financing outflow of 21.68 million yuan. The total financing and securities balance reached 727 million yuan, accounting for 9.01% of the circulating market value [1]. - As of September 30, the number of shareholders for YingShi Innovation increased to 23,100, a rise of 36.16% compared to the previous period. The average circulating shares per person decreased by 26.56% to 1,318 shares [2]. - For the period from January to September 2025, YingShi Innovation reported a revenue of 6.611 billion yuan and a net profit attributable to shareholders of 792 million yuan, reflecting a year-on-year decrease of 5.95% [2]. - Among the top ten circulating shareholders as of September 30, 2025, several new institutional investors entered, including Bosera Science and Technology Innovation Mixed Fund, holding 262,600 shares, and others like Fortune Consumer Theme Mixed Fund and Fortune Value Creation Mixed Fund [2].