Core Viewpoint - The competition between YingShi Innovation and DJI has intensified as both companies enter each other's markets, leading to accusations of supply chain exclusivity and monopolistic behavior [1][2][3]. Group 1: Supply Chain Exclusivity Accusations - Liu Jingkang, the CEO of YingShi, accused DJI of implementing "supply chain exclusivity" to suppress competition, which sparked significant online debate [2][3]. - Industry insiders suggest that supply chain exclusivity is a common practice in the consumer electronics sector, often arising from competitive pressures rather than outright monopolistic behavior [2][12]. - The exclusivity claims are seen as a result of technological binding and resource allocation rather than a unilateral bullying tactic by DJI [4][12]. Group 2: Market Dynamics and Competition - YingShi's new drone, "YingLing," faced significant pressure from DJI, which has a dominant market position in the drone sector [4][17]. - The global market for panoramic cameras is projected to grow from 3.2 billion yuan in 2020 to 5.85 billion yuan by 2024, but growth rates are slowing, raising concerns for YingShi's future performance [17][21]. - DJI's entry into the panoramic camera market has led to a dramatic drop in YingShi's market share from over 90% to 49% [21]. Group 3: Financial Performance and Market Response - YingShi's third-quarter net profit decreased by 15.9% year-on-year, indicating financial pressure as competition intensifies [22][23]. - The company's stock price reflects high expectations, with a price-to-earnings ratio of 101.66, necessitating a successful expansion into the drone market to justify its valuation [18][19]. - Initial sales figures for the "YingLing" drone indicate a slow market response, with only 1,400 units sold in the first three days, raising concerns about its ability to drive revenue growth [20].
大疆影石“供应链排他”，是舆论争议还是产业逻辑？