Core Viewpoint - The company YingShi Innovation (688775.SH) reported significant revenue growth in the first three quarters of the year, but faced a decline in net profit due to increased R&D expenses and competition from DJI's aggressive pricing strategy in the panoramic camera market [2][3]. Financial Performance - YingShi Innovation achieved revenue of 6.611 billion yuan, a year-on-year increase of 67.18% [2]. - The net profit attributable to shareholders was 792 million yuan, a year-on-year decrease of 5.95% [2]. - The increase in revenue was attributed to market expansion, new product launches, and enhanced online and offline sales [2]. Market Competition - DJI launched the Osmo 360 panoramic camera at a price 800 yuan lower than YingShi's X5 model, and the Osmo Nano at a price 900 yuan lower than YingShi's GO Ultra [2]. - The price competition has led to significant market share shifts, with reports indicating YingShi's market share dropping from 85%-92% to 49%, while DJI captured 43% of the market [3][4]. Market Share Reports - Two conflicting market share reports were released: one from Jiuqian Zhongtai showing YingShi's market share at 49% and DJI at 43%, and another from Sullivan indicating YingShi still holds a 75% market share globally, with DJI at 37.1% in China [3][4]. - YingShi expressed skepticism about the accuracy and authority of some third-party data sources [4]. Future Developments - YingShi is set to launch its own brand of panoramic drones and a collaborative brand called YingLing Antigravity, with public testing nearing completion and a potential release in Q4 2025 [6]. - The company is also working on new products, including a next-generation action camera and a wearable camera [6].
影石回应市场份额骤降传闻