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].

Group 1 - The company emphasizes the importance of its board secretary in managing investor relations, ensuring compliance and effective communication [2] - The board secretary and securities affairs representative possess the necessary professional knowledge and experience to fulfill their responsibilities [2] - The company expresses confidence in the overall performance capabilities of its investor relations team [2]

Core Viewpoint - The company, Ying Shi Innovation, experienced a decline in stock price by 1.95% on January 19, with a trading volume of 356 million yuan, indicating market volatility and investor sentiment towards the stock [1]. Financing Summary - On January 19, Ying Shi Innovation had a financing buy-in amount of 56.24 million yuan, with a net financing purchase of 17.27 million yuan after repayments of 38.97 million yuan [1]. - The total financing and margin trading balance for Ying Shi Innovation reached 759 million yuan, accounting for 9.55% of its market capitalization [1]. - There were no shares sold or repaid in the margin trading segment on the same day, indicating a lack of short-selling activity [1]. Company Profile - Ying Shi Innovation Technology Co., Ltd. is located in Bao'an District, Shenzhen, Guangdong Province, and was established on July 9, 2015, with its listing date set for June 11, 2025 [1]. - The company's main business involves the research, production, and sales of smart imaging devices, including panoramic cameras and action cameras [1]. - The revenue composition of the company is as follows: 86.06% from consumer-grade smart imaging devices, 12.63% from accessories and other products, 1.01% from other sources, and 0.30% from professional-grade smart imaging devices [1]. Shareholder Information - As of September 30, the number of shareholders for Ying Shi Innovation increased to 23,100, a rise of 36.16% compared to the previous period [2]. - The average number of circulating shares per shareholder decreased by 26.56% to 1,318 shares [2]. - The company reported a revenue of 6.611 billion yuan and a net profit attributable to shareholders of 792 million yuan for the period from January to September 2025, reflecting a year-on-year decrease of 5.95% in net profit [2]. Institutional Holdings - As of September 30, among the top ten circulating shareholders, several new institutional investors emerged, 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]. - Notably, several funds exited the top ten circulating shareholders list, indicating shifts in institutional investment strategies [2].

Summary of Insta360 Conference Call Company Overview - **Company**: Insta360 (688775.SS) - **Industry**: Action and 360 Cameras - **Competitors**: GoPro, DJI - **Founded**: 2015 - **Listed**: June 2025 - **Global Presence**: Offices in China, Los Angeles, Tokyo, and Berlin; partnerships with Apple Store, Best Buy, Costco [2][2] Key Insights 1. Product Development Driven by User Insights - Insta360's product development is focused on user needs, particularly in making 360 drones more accessible for beginners [3][3] - Unique features include: - Night optimization for action cameras, addressing user demand for night shooting [3][3] - AI-driven auto-editing that creates vlogs with music and highlights from raw footage [3][3] - Management believes understanding user behavior is a key strength [3][3] 2. Balancing Profitability and Market Share - Management aims to balance gross margin and market share, avoiding participation in pricing wars despite some price cuts due to new market entrants [4][4] - Concerns about customer dissatisfaction from significant price reductions were noted [4][4] - Positive outlook on growth trajectory in the Action/360 camera market, with significant global market potential [4][7] 3. Managing Memory Pricing Risk - Insta360 uses DDR5 memory and has taken steps to mitigate rising memory costs: - Signed supply agreements with existing suppliers [8][8] - Qualified domestic suppliers for future products while maintaining current supply from existing suppliers [8][8] Market Outlook - Global shipments of Action/360 cameras are projected to reach 270 million units by 2035, with a compound annual growth rate (CAGR) of 19% from 2026 to 2035 [1][1] - Key beneficiaries of this growth include: - Omnivision (CMOS image sensor) - Lingyi (Structural parts) - AAC (Camera and acoustics) [1][1]

Group 1 - The company completed the election of its third board of directors on January 15, 2026, during the first extraordinary shareholders' meeting and the first employee representative meeting of 2026 [1][26] - The third board consists of nine directors, including three independent directors and one employee representative director [1][26] - The term of the third board of directors is three years, starting from the date of approval at the shareholders' meeting [1][26] Group 2 - Liu Jingkang was elected as the chairman of the third board of directors, and various specialized committees were established, including the Strategy Committee, Audit Committee, Nomination Committee, and Compensation and Assessment Committee [2][3] - The specialized committees will have a term aligned with the third board of directors [2][3] Group 3 - Liu Liang was appointed as the general manager, Li Yang as the board secretary, and Huang Wei as the financial officer, with their terms matching that of the third board [4] - All appointed senior management personnel meet the qualifications required by relevant laws and regulations [4] Group 4 - Qiu Kanghua was appointed as the internal audit head, and Zheng Rui and Wu Weiqiong were appointed as securities representatives, with their terms also aligned with the third board [5][6] - The appointments were approved during the first meeting of the third board of directors [5][6] Group 5 - Three non-independent directors and three independent directors completed their terms and will no longer serve on the board [7] - The company expressed gratitude for the contributions made by the departing directors during their tenure [7]

Group 1 - The company announced the convening of its third board meeting on January 15, 2026, to discuss the appointment of securities representatives [1] - The board approved the appointment of Ms. Zheng Rui and Ms. Wu Wei Qiong as the company's securities representatives [1]

Core Viewpoint - The company announced the appointment of a new internal audit head, which reflects its commitment to governance and oversight [2] Group 1 - On January 15, the company held its third board meeting to discuss the appointment of the internal audit head [2] - The board approved the proposal to appoint Mr. Qiu Kanghua as the internal audit head [2]

Group 1 - The company, Yingstone Innovation, announced the appointment of Ms. Li Yang as the secretary of the board [2]

Group 1 - The core point of the article is the appointment of Ms. Huang Wei as the financial head of Ying Shi Innovation [2] Group 2 - The announcement was made on January 15 [2] - The source of the information is Securities Daily [2]