34岁上市，利润10亿，刘靖康给这届年轻人打了个样

Core Viewpoint - The article highlights the success story of YingShi Innovation (Insta360) and its founder Liu Jingkang, emphasizing the company's rapid growth and significant market position in the panoramic camera industry, marking a notable achievement for a post-90s entrepreneur in the Chinese tech landscape [2][6][30]. Company Overview - YingShi Innovation was established in 2015 and specializes in products such as action cameras, VR cameras, and panoramic cameras, holding the largest market share in the global panoramic camera sector and the second-largest in action cameras, following GoPro [5][23]. - The company reported a revenue of 5.574 billion yuan in the previous year, with 80% of its sales coming from overseas markets, and a net profit of 999.5 million yuan [6][23]. IPO and Market Performance - On June 11, 2025, YingShi Innovation went public on the STAR Market, with an initial offering price of 47.27 yuan, which surged by 285% on the first day, reaching a market capitalization of over 70 billion yuan [6][25]. - The company has seen consistent revenue growth over the past three years, with revenues of 2.041 billion yuan, 3.636 billion yuan, and 5.574 billion yuan, and net profits of 407 million yuan, 830 million yuan, and 999.5 million yuan respectively [23]. Product Development and Innovation - The company began with a camera accessory and transitioned to hardware, facing challenges in talent acquisition and material sourcing, which led to relocating to Shenzhen [18][19]. - YingShi's first major product, Nano, gained significant attention at CES 2016, leading to a rapid increase in revenue from zero to 20 million yuan within a month [19]. - The launch of the X series in 2018 established a stable revenue model, and the company has since expanded its product line to include various camera types and accessories [19][22]. Market Strategy and Future Outlook - Liu Jingkang emphasizes the importance of innovation and understanding user needs, aiming to maintain a competitive edge despite increasing competition in the market [30][36]. - The company is exploring AI technology to enhance user experience and streamline video editing processes, indicating a focus on future growth and adaptation to market demands [28][29]. - YingShi's market share in the panoramic camera segment has reached 67.2% in 2023, with expectations to grow to 81.7% by 2024, indicating strong market dominance [25].