Xin Lang Cai Jing·2025-11-04 10:21Core Viewpoint - The entry of DJI into the panoramic camera market has initiated price competition, which is seen as a way to expand the market and enhance industry growth collectively [1] Company Response to Price Competition - DJI launched its first panoramic camera, Osmo 360, on July 31, priced from 2999 yuan, featuring native 8K video and 1.2 million pixel panoramic photos [1] - DJI's promotional activities for Double 11 included significant price reductions on various products, with discounts ranging from hundreds to over a thousand yuan [1][2] - In response to DJI's price cuts, the chairman of Yingshi Innovation, Liu Jingkang, indicated that the price drop might be influenced by Yingshi's market entry and offered consumers a 100 yuan voucher for DJI products [2] Yingshi Innovation's Market Strategy - Yingshi Innovation entered the drone market on July 28, planning to launch the world's first panoramic drone, driven by unmet customer needs and market growth potential [2] - The company aims to test market sales of its Antigravity panoramic drone in specific regions by the end of Q4 2023, although actual launch dates may vary due to supply chain and market conditions [2] Financial Performance - Yingshi Innovation reported revenues of 20.41 billion yuan, 36.36 billion yuan, and 55.74 billion yuan for 2022, 2023, and 2024 respectively, with a compound annual growth rate of 65.25% [3] - The latest Q3 report for 2025 showed revenues of 29.40 billion yuan, a year-on-year increase of 92.64%, while net profit attributable to shareholders decreased by 15.90% to 2.72 billion yuan [3] - The decline in net profit is attributed to increased investments in strategic projects like custom chips, although profit metrics would have been better without these impacts [3]