Group 1 - The core viewpoint of the news is that Insta360, a company specializing in panoramic imaging technology, has successfully launched its IPO process and is positioned to leverage its strong market presence and technological advancements to continue leading in the global smart imaging sector [1][4]. Group 2 - Insta360 was founded in 2015 and has rapidly become a leading smart imaging brand globally, holding the largest market share in panoramic cameras for six consecutive years, with an expected market share of 81.7% in 2024 [2]. - The company has successfully launched several popular products in the action camera segment, including the Ace Pro2 and GO 3S, which are well-received by outdoor enthusiasts [2]. - Insta360's products are sold in over 200 countries and regions, with millions of hardware users and nearly 8 million followers on major social media platforms, showcasing its strong brand presence [2]. - The company has significantly increased its R&D investment from 256 million yuan in 2022 to 776 million yuan in 2024, totaling 1.48 billion yuan over three years, with R&D expenses accounting for 13.16% of revenue [3]. - As of the end of 2024, Insta360 holds 900 authorized patents, including 189 invention patents, and has a R&D team comprising over 1,000 members, representing 57.68% of its workforce [3]. - The company's revenue surged from 2.041 billion yuan in 2022 to 5.574 billion yuan in 2024, with a compound annual growth rate of 65.25%, and a net profit increase from 407 million yuan to 995 million yuan during the same period [4]. - The global market for handheld smart imaging devices is projected to grow from 16.43 billion yuan in 2017 to 36.47 billion yuan in 2023, and is expected to exceed 59.2 billion yuan by 2027, indicating a favorable market environment for Insta360 [4].