首款产品预计在今年第四季度上市。 光子跃迁瞄准这一市场机遇，致力于将 AI技术与传统影像深度融合，用创新的产品形态，打破拍摄 场景的局限；通过智能算法降低操作门槛，同时针对不同场景提供定制化解决方案，满足不同用户的 拍摄差异化需求。 光子跃迁的核心差异化优势在于其 "场景融合创新+前沿技术集成+深度用户洞察"的三极驱动模式， 这使其显著区别于市场上聚焦单一功能或通用方案的传统影像厂商。 场景方面， "产品作为突破性的全新形态相机，其核心在于深度整合Vlog创作与运动记录两大垂直 场景需求。"袁谦谈道，光子跃迁通过融合性设计精准解决不同创作者的核心诉求，能有效突破传统 产品的场景局限，为更广泛的内容创作者提供前所未有的创作自由度与适用性。 技术层面，光子跃迁的首款产品将率先集成多项行业首创技术，实现影像能力与操作体验的跨越式提 升。例如 AI技术和智能跟拍技术等，这种协同创新直接带来专业级复杂动态环境画质，以及革命性 的"所想即所得"拍摄流畅度，极大简化创作流程。基于"用户痛点驱动"的核心方法论，光子跃迁还 构建了超1000人的深度用户反馈池，规模达行业普通公司的5-10倍。这一体系能精准捕捉创作全 流程中的关 ...

影石创新 One X 系列迭代加速，占公司收入约 50%，表明其技术更新 优势。G 系列和 S 系列产品在 2023-2024 年间显著增长，公司积极拓 展产品线。 影石创新线上线下渠道均衡，各占约 50%，主要市场集中在美、欧、日、 韩等发达国家。公司财务状况良好，现金流充沛，截至 2025 年一季度 现金及交易性金融资产接近 9 亿元。 全景相机市场 2023 年全球规模约 50 亿元，增速 21.8%，预计 2027 年达 80 亿左右。影石已连续六年保持全球第一，占有率超 60%。运动 相机市场影石位居第二，或已超越 GoPro。 新恒汇是智能卡芯片封装材料柔性引线框架的核心供应商，市占率约为 32%。IPO 募集资金约 5.8 亿元，用于键合引线框架封装材料项目和研 发中心扩建。 新恒汇积极拓展蚀刻引线框架及物联网 eSIM 芯片封测业务，收入占比 从 2022 年不到 10%提升至 2024 年接近 30%。公司 2022-2024 年收 入稳步增长，今年上半年预计收入增速为 4%-12%。 新股探寻-（影石创新、新恒汇、华之杰）20250606 摘要 Q&A 影石创新公司的主要产品和市场表现如何 ...

《商道创投网》创业家会员·单位简介 追创创投合伙人李明表示，光子跃迁在AI影像算法和智能硬件领域展现出强大的技术实力和创新能力，其团队成员拥有丰富的行业经验，能够快速将前沿 技术转化为实际产品。此外，运动相机市场持续增长，光子跃迁的产品定位精准，具有广阔的市场前景。追创创投看好光子跃迁的发展潜力，相信其能够为 投资者带来可观的回报。 光子跃迁成立于2024年，是一家专注于AI影像算法研发及智能硬件产品开发的高科技企业。公司核心团队成员来自国内知名智能影像企业、头部手机厂商 以及快消品行业龙头公司，拥有丰富的行业经验和强大的技术研发实力。光子跃迁致力于通过创新的影像技术，为用户提供全新的视觉体验，其首款运动相 机产品预计于2025年下半年发布，将满足Vlog人群和运动人群的多样化需求。 《商道创投网》创业家会员·本轮融资用途是什么？ 光子跃迁总裁袁谦表示，本轮融资将主要用于深化AI影像算法的研发，加速全球化市场布局，以及智能硬件产品的量产准备。公司将通过定制镜头零部 件，从硬件层面提升产品的防抖效果，并结合自研防抖算法，充分释放硬件能力，为用户提供更优质的影像体验。此外，资金还将用于拓展市场份额，提升 品牌影响 ...

Core Viewpoint - The company, YingShi Innovation, has successfully completed its initial public offering (IPO) on the Sci-Tech Innovation Board, raising significant interest from the capital market with a subscription multiple of approximately 4220.7 times, indicating strong investor confidence in its growth potential [1][2]. Group 1: IPO and Market Interest - YingShi Innovation issued 41 million new shares at a price of 47.27 yuan per share, with strategic investors including notable firms like CITIC Securities and Temasek [1]. - The company is set to be the first enterprise registered on the Sci-Tech Innovation Board by 2025, with plans to list in mid-June [1]. - The high subscription rate reflects the capital market's enthusiasm for the company's innovative capabilities and market position [1]. Group 2: Business and Market Position - YingShi Innovation has maintained a leading position in the global panoramic camera market, achieving a market share of 67.2% in 2023, significantly surpassing GoPro's 9.2% [4]. - The company has a diverse product matrix, including consumer and professional-grade cameras, and has successfully disrupted the market previously dominated by established brands [3][4]. - The company’s overseas revenue accounted for over 75% of total revenue last year, showcasing its strong global presence [1][2]. Group 3: Financial Performance and Growth - YingShi Innovation's revenue has shown a compound annual growth rate (CAGR) of 65.25% over the past three years, with revenues of 20.41 billion yuan in 2022, 36.36 billion yuan in 2023, and projected 55.74 billion yuan in 2024 [8]. - The net profit for the same period has also increased, from 4.07 billion yuan in 2022 to 9.95 billion yuan in 2024, indicating robust financial health [8]. - The company has maintained a high gross margin, with figures of 51.49%, 55.95%, and 52.20% over the last three years [8]. Group 4: Research and Development - YingShi Innovation has invested 1.48 billion yuan in R&D from 2022 to 2024, with a focus on enhancing its technological capabilities in panoramic imaging and stabilization technologies [4][5]. - The company plans to use the funds raised from the IPO to further develop its R&D center and production facilities, aiming to strengthen its technological barriers [5][6]. - The R&D expense ratio has increased by 3.21 percentage points year-on-year in the first quarter of this year, reflecting the company's commitment to innovation [5]. Group 5: Future Prospects and Market Expansion - The global market for handheld smart imaging devices is projected to grow from 36.47 billion yuan in 2023 to nearly 60 billion yuan by 2027, providing a favorable environment for YingShi Innovation's expansion [9]. - The company plans to enhance its market presence in various regions, including the U.S., Japan, and Europe, while also targeting new markets in Spain, France, and Italy [9]. - The integration of AI technologies into its product offerings is expected to drive further innovation and market growth, with a significant portion of its products already utilizing AI capabilities [10][11].

| 指数 | 收盘 | | 涨跌（％） | | | --- | --- | --- | --- | --- | | 名称 | （点） | 1 日 | 5 日 | 1 月 | | 上证指数 | 3384 | 0.23 | 3.2 | 0.61 | | 深证综指 | 2010 | 0.53 | 4.93 | 0.86 | | 风格指数 | 昨日表现 | 1 个月表现 | 6 个月表现 | | --- | --- | --- | --- | | | （％） | （％） | （％） | | 大盘指数 | 0.24 | 2.76 | -0.78 | | 中盘指数 | 0.55 | 2.36 | -5.15 | | 小盘指数 | 0.72 | 3.16 | -0.9 | | 行业涨幅 | 昨日涨 | 1 个月涨 | 6 个月涨 | | 元件Ⅱ | 5.15 | 12.29 | 8.78 | | 消费电子 | 3.22 | 5.32 | -7.21 | | 通信设备 | 3.14 | 12.07 | -0.98 | | 电视广播Ⅱ | 2.69 | 5.28 | -4.08 | | 摩托车及其 | 2.59 | 4.65 ...

Core Viewpoint - The company is undergoing a comprehensive strategic transformation from traditional imaging services to "smart imaging + data ecology + internationalization" driven by the surge in global health demand and advancements in AI and big data technologies [1] Group 1: Business Model and Services - The company has established a complete medical imaging ecosystem through three main business segments: "imaging center services + imaging solution services + Yimai Cloud services," aiding hospitals in achieving precise medical upgrades [1] - By the end of 2024, the company will operate 106 imaging centers across 16 provinces in China, forming a robust business system [1] Group 2: Collaborations and Partnerships - The company is advancing digital transformation and intelligent upgrades in the medical imaging field through deep collaborations with major firms like Huawei, signing comprehensive cooperation agreements to focus on medical imaging [2][3] - Strategic partnerships have been formed with various entities, including a collaboration with iFlytek Medical to explore joint market development and AI diagnostic model research [2][3] Group 3: Market Position and Opportunities - The Chinese medical imaging market has surpassed 100 billion, with uneven distribution of imaging resources in public hospitals, creating opportunities for the company to empower county hospitals and optimize resource utilization [4] - The company is expanding into specialized markets such as neurodegenerative diseases and early cancer screening, which are experiencing rapid growth in demand for high-precision imaging [4] Group 4: International Expansion - The company has established a solid foundation for internationalization through years of experience and brand influence in the domestic market [5] - A strategic partnership was formed with Hong Kong Medical Health to create a "central procurement + global distribution" supply chain platform, marking a significant step towards global expansion [5][6] - The company has set up an overseas division in 2024, targeting regions such as Hong Kong, Macau, Southeast Asia, the Middle East, and Africa, aiming to build a global business network [6]

Group 1: Industry Overview - The medical imaging industry is undergoing a profound transformation driven by advanced technologies such as high-field MRI, compressed sensing, photon CT, artificial intelligence, big data, and cloud computing, leading to increased precision and intelligence in medical imaging [1][4] - The demand for efficient, precise, and intelligent imaging solutions is growing among hospitals, prompting companies to increase R&D investments to break through key core technologies [1][4] - The Chinese medical device industry is expanding, with the market size projected to reach 1,356.8 billion yuan in 2024, indicating strong growth potential [2] Group 2: Company Profile - Feiyu Imaging has been recognized as the "Pioneer of Precision Imaging Health Check in China" by iiMedia Research, highlighting its leadership in the independent medical imaging sector [5][6] - The company focuses on early detection of cardiovascular diseases and tumors, utilizing advanced 3.0T MRI technology and developing comprehensive imaging health check solutions [6][7] - Feiyu Imaging has established partnerships with top medical institutions, enhancing its technical capabilities and providing imaging services to over 200,000 patients [7][8] Group 3: Technological Advancements - The application of artificial intelligence in imaging diagnostics has significantly improved speed and accuracy, enhancing medical efficiency and reducing misdiagnosis [4] - Technologies such as 3D reconstruction and cloud computing facilitate better data storage, sharing, and optimization of medical resources, leading to a new era of intelligent and precise medical imaging [4] Group 4: Future Outlook - Feiyu Imaging aims to expand its network across major cities in China and establish a grid system of "central hubs + health stations," breaking regional barriers in medical resources [7] - The company is committed to creating a world-class medical imaging diagnostic center and becoming an internationally leading healthcare service platform [8]

以下文章来源于36氪财经 ，作者丁卯 范亮 郑怀舟 36氪财经 . 36氪旗下官方账号。洞见市场，比99%的投资者更聪明。 亮眼的现在，隐忧的未来。 文 ｜ 丁卯 范亮 编辑 ｜ 郑怀舟 来源｜ 36氪财经(ID： krfinance) 封面来源 ｜ 企业官方 风靡互联网的Insta相机距离上市仅一步之遥。 6月3日，"Insta 360影石"品牌母公司影石创新公布中签结果，发行价定为47.27元/股，拟发行股份4100万股，粗略计算，募集资金金额达到19亿元，对应 发行估值约190亿元。 根据招股书披露，其募集资金主要用于以下两个方面：智能影像设备生产基地建设和影石创新深圳研发中心建设项目。 作为科创板今年以来的第7家上市公司，影石创新基本面表现如何？上市后究竟会有怎样的表现？ 渠道多元，销往全球 影石创新成立于2015年，是一家以全景技术为基点的全球知名智能影像设备龙头，目前，公司围绕"Insta360影石"核心品牌，形成了消费级智能影像设 备、专业级智能影像设以及配件和其他产品三大产品矩阵，全面覆盖消费及商用场景，并且提供了广泛的创意性配件以扩充使用场景。 具体来看，公司消费级产品主要聚焦在以ONE R ...

Financing and Investment - Shenzhen Photon Leap Technology Co., Ltd. has completed several hundred million yuan in angel round financing, with funds primarily allocated for AI imaging algorithm development, global expansion, and smart hardware product mass production preparation [1][3] - Shanghai Lin Qingxuan Biotechnology Co., Ltd. has submitted a listing application to the Hong Kong Stock Exchange, with a revenue growth from 691 million yuan in 2022 to 1.21 billion yuan in 2024, representing a compound annual growth rate of 32.3% [5] Mergers and Acquisitions - Anta Group has announced the completion of the acquisition of German outdoor brand Jack Wolfskin, enhancing its competitiveness in the professional outdoor sports sector [8] - Neo Investment Partners is exploring potential investors for the luxury leather brand Valextra, considering an exit from its investment since holding approximately 60% of the brand since 2013 [11] Product Launches and Brand Strategies - Luckin Coffee has launched a new product, the Feather Light Fruit and Vegetable Tea, priced at 9.9 yuan per large cup, aiming to align with the growing health-conscious consumer demand [13] - Antonia has opened two new flagship stores in China, marking a significant milestone in its Asian market strategy [16] Data Security and Brand Reputation - Cartier has confirmed a data breach affecting customer information globally, highlighting the need for luxury brands to enhance their data protection mechanisms [18] Executive Appointments - Nike has appointed former McDonald's executive Michael Gonda as the new Chief Communications Officer, effective July 7, as part of a significant executive committee overhaul [20] - Kizik has appointed Gareth Hosford, a former Nike executive, as its new CEO, aiming to lead the brand into a new phase of omnichannel expansion [23] - Dr. Martens has appointed Paul Zadoff as President of the Americas market, bringing over 30 years of leadership experience to drive growth and profitability [25][26]

2025 年 06 月 04 日 影石创新 (688775) ——极客影像，敢于想象，从极限运动走向日常 投资要点： 发行上市资料： 发行价格（元） 47.27 发行股数（万股） 4,100 发行日期 2025-05-30 发行方式 上网定价, 法人配售, 法 人定向配售 主承销商 中信证券股份有限公司 上市日期 - *首日上市股数-万股 | 基础数据(发行前): | 2025 年 03 月 31 日 | | --- | --- | | 每股净资产（元） | 9.33 | | 总股本/流通 A 股(百万) | 401/- | | 流通 B 股/H 股（百万） | -/- | 相关研究 《智能影像设备：从户外运动向日常创作渗透 ——运动相机行业深度》 2025/04/18 证券分析师 杨海晏 A0230518070003 yanghy@swsresearch.com 刘正 A0230518100001 liuzheng@swsresearch.com 屠亦婷 A0230512080003 tuyt@swsresearch.com 张海涛 A0230524080003 zhanght@swsresearch.co ...