Investment Rating - The report does not provide a specific investment rating for the company due to the volatility of the stock price following its IPO [2]. Core Viewpoints - The company, Insta360, is a global leader in the smart imaging device market, particularly in the panoramic camera segment, holding a 67% market share in 2023 [1][11]. - The company has demonstrated strong revenue growth, with a compound annual growth rate (CAGR) of 66% from 2017 to 2024, reaching revenues of 5.57 billion yuan in 2024 [1][73]. - The company is expected to benefit from high demand in the panoramic camera segment, with projected revenues of 8.5 billion yuan in 2025, 12.4 billion yuan in 2026, and 17.5 billion yuan in 2027, reflecting growth rates of 52%, 45%, and 42% respectively [2][3]. Summary by Sections 1. Company Overview - Insta360 was established in 2015 and focuses on the research, production, and sales of smart imaging devices, contributing approximately 87% of its revenue from consumer-grade products in 2024 [1][11]. - The company's main products include panoramic action cameras (ONE X series, ONE R series) and non-panoramic action cameras (Ace series, GO series) [1][11]. 2. Market Position - The company has successfully broken the monopoly of Western and Japanese brands in the action camera market, achieving the second-largest market share globally [1][11]. - The company's panoramic action cameras generated approximately 3 billion yuan in revenue in 2024, accounting for about 54% of its main business [1][11]. 3. Financial Performance - The company’s net profit is projected to grow from 1.2 billion yuan in 2025 to 2.6 billion yuan in 2027, with growth rates of 21%, 50%, and 43% respectively [2][3]. - The net profit margin for 2024 is estimated at 17.8% [1][73]. 4. Product Development and Innovation - The company emphasizes continuous product iteration and upgrades, focusing on both hardware and software improvements [1][66]. - The company has developed proprietary technologies in panoramic image capture, stabilization, AI image processing, and modular waterproof camera design, holding around 900 patents as of December 2024 [41][57]. 5. Competitive Analysis - Insta360's products are noted for their strong performance in terms of price, resolution, battery life, and smoothness compared to competitors [53][56]. - The company’s flagship products, such as the ONE X series, have advanced specifications, including video capabilities of up to 8K at 30fps [53][56]. 6. Future Prospects - The company is actively working on new projects, including cloud-based video management and editing technologies, which are expected to enhance its product offerings and market position [72][73].

Company Overview - YingShi Innovation, a leading company in the panoramic camera industry, went public with an initial offering price of 47.27 CNY per share and closed at 177.00 CNY, marking a first-day increase of 271.48% [1] - The company has maintained the largest market share in the global panoramic camera market for six consecutive years, achieving a market share of 67.2% in 2023 [1][2] - YingShi Innovation's revenue surged from 2.041 billion CNY in 2022 to 5.574 billion CNY in 2024, with a compound annual growth rate (CAGR) of 65.25% over the past three years [2] Industry Insights - The global retail market for panoramic cameras is projected to grow from 2.51 billion CNY in 2017 to 7.85 billion CNY by 2027, with a CAGR exceeding 10% [1] - The innovative 360-degree shooting capability of panoramic cameras has sparked a travel trend on social media platforms, particularly highlighted by the launch of the Insta360 X5 camera, which saw significant consumer demand [2] - In 2023, 47 new stocks were listed, with an average first-day increase of nearly 300%, indicating a strong market for new public offerings [3]

6 月 11 日 ， 影 石 创 新 正 式 登 陆 科 创 板 ， 首 日 开 盘 即 暴 涨 285%，总市值突破700亿元，19.38亿元募资额登顶2025年 科创板，以技术硬实力叩开资本市场新大门。 作者： 王海言 封图：图片资料室 6月11日，A股正式迎来"智能影像第一股"。影石创新科技股份有限公司(下称"影石创新"股票代码688775.SH)正式登陆上海证券交易所科创板。 上 市首日开盘价为 182 元 /股，较发行价上涨 285 %，总市值突破 700 亿元，成为科创板又一家备受瞩目的明星企业。值得一提的是，此次影石创新 科创板上市募资 19.38亿元，为2025年以来上交所（主板+科创板）整体募资额排名第三，在科创板 名列前茅 。 上市敲锣仪式 在上市仪式现场， 公司创始人、 90后创业者刘靖康 一改传统，身穿简约文化衫，手持 Insta360全景相机敲响上市锣声， 以科技产品替代传统棒槌 完成 上市 敲 锣仪式。这场别开生面的仪式凸显了影石创新 "Think Bold始于敢想"的企业基因，更生动 诠释了其产品 "航天级"标准的品质标杆。 影石创始人刘靖康手持全景相机敲响上市锣声 技术驱动业绩 ...

风靡互联网的全景相机，上市了。 6月11日，影石创新（688775.SH，下文简称"影石"）在上交所科创板成功上市。公司上市首日较开盘价47.27元高开285.02%报182元/股，总市值约730亿 元。 这头独角兽自2020年启动IPO起，历时5年，终于得偿所愿。 正如刘靖康过去曾表示，影石Insta360的发展离不开政府的政策扶持，也和深圳的人才优势、产业集聚、开放文化等大环境息息相关，"非常感谢深圳市政 府一直以来给我们的鼓励和支持。未来我们将继续以'帮助人们更好地记录和分享生活'为使命，以新影像行业为基石，矢志创新、不断突破，围绕'成为世 界一流的智能影像品牌'的愿景而奋发努力。" 90后技术大咖，收获一个百亿IPO 执掌这个百亿IPO的90后刘靖康，也顺理成章拿下人生第一个IPO。 这是一位极具传奇色彩的"90后"创业者。出生于广东中山的刘靖康，自小便对电脑技术充满兴趣。高中时期，他凭借出色的技术能力在全国中小学生电脑 制作大赛中获奖，后来高考也顺利进入南京大学软件学院就读软件工程专业。 大学期间，刘靖康便以一系列大胆而富有创意的技术"整活"成为校园风云人物，是早期"校园极客"一员，同时也是小有名气 ...

市场全天震荡反弹，创业板指领涨，沪指再度站上3400点。 截至收盘，沪指涨0.52%，深成指涨0.83%，创业板指涨1.21%。 个股涨多跌少，全市场超3400只个股上涨。沪深两市全天成交额1.26万亿，较上个交易日缩量1599亿。 板块方面，稀土永磁、游戏、汽车零部件、证券等板块涨幅居前，可控核聚变、生物疫苗、通信服务等板块跌幅居前。 值得一提的是，影石Insta360今日历时4年，今日终于上市，暴涨近300% 01 影石创新今日登陆A股科创板，暴涨274.44% 上市当天，N影石盘中最高涨幅达187.99元/股，涨幅达297.69%。截至收盘，报177元/股，涨幅为274.44%，总市值709.77亿元。个人投资者 中一签新股最多可以赚到7万元。 | N影石 | | | --- | --- | | 688775 盘后交易 06-11 15:22:08 北京 | | | 177.00 +129.73 +274.44% | 6133人加自选 (4) > | | 科 L1 | | | 高 187.99 开 182.00 量 2129.04万股 | 总市值 709.77亿 。 | | 低 165.11 换 69. ...

新华财经北京6月11日电 科创50指数6月11日低开后冲高回落，午后下行翻绿。至收盘时，科创50指数 报980.93点，跌幅0.20%，指数振幅为1.00%，总成交额约213.3亿元。 经新华财经统计，6月11日，剔除新上市的N影石，科创板587只个股平均跌幅0.28%，平均换手率 2.01%，合计成交额794.7亿元，平均振幅为3.03%。 个股表现方面，剔除新上市的N影石，久日新材涨15.05%，领涨成分股；信宇人跌9.68%，跌幅居首。 成交额方面，剔除新上市的N影石，海光信息成交额43.7亿元，位居首位；秦川物联成交额682万元，位 居末位。 换手率方面，剔除新上市的N影石，信宇人换手率为27.55%，位居首位；龙腾光电换手率为0.13%，位 居末位。 （文章来源：新华财经） 从盘面上看，科创板个股多数上涨，上涨个股326只。高价股多数下跌，低价股则表现较好。 细分领域中，家用电器、汽车配件、化工原料类个股表现活跃，部分半导体、软件服务、生物制药类个 股下跌。 6月11日，影石创新（股票简称"N影石"）正式登陆科创板．公开资料显示，影石创新主营业务为自有 品牌的消费级智能影像设备、专业级智能影像设备、 ...

Group 1 - The core viewpoint of the article highlights the successful IPO of YingShi Innovation Technology Co., Ltd., which became the first "smart imaging" stock on the Shanghai Stock Exchange's Sci-Tech Innovation Board, raising 1.938 billion yuan [1] - On its first trading day, the stock opened with a surge of over 285%, reaching a price of 178.00 yuan per share, which is a 276.56% increase from the issue price, resulting in a market capitalization of 71.378 billion yuan [1] - YingShi Innovation is recognized globally as a leading smart imaging equipment manufacturer, focusing on the development of panoramic and action cameras, with its brand "Insta360" achieving a 67.2% global market share in panoramic cameras in 2023, expected to rise to 81.7% in 2024 [1] Group 2 - The company has made significant investments in research and development, with a total of 1.48 billion yuan allocated from 2022 to 2024, and a workforce where 57.68% are R&D personnel, holding 900 authorized patents [1] - Financially, the company has demonstrated strong growth, with a compound annual growth rate (CAGR) of 65.25% in revenue from 2022 to 2024, and a revenue of 1.355 billion yuan in the first quarter of this year, reflecting a year-on-year increase of 40.7% [1] - YingShi Innovation has a robust global presence, with products available in over 200 countries and regions, and a social media following exceeding 5 million internationally [1] Group 3 - The company has attracted investments from notable firms such as IDG Capital and Qiming Venture Partners, with strategic investors including Temasek participating in the IPO [1] - IDG Capital has supported the company for over 10 years, while Qiming and cornerstone investors are optimistic about the future development of Liu Jingkang and the company [1] - Qiming Venture Partners believes that YingShi Innovation's success is attributed to its user-centric approach, differentiated competition, and global expansion, with significant potential in the integration of imaging and AI technologies [1]

中国经济网北京6月11日讯 今日，影石创新科技股份有限公司(股票简称：影石创新，股票代码： 688775.SH)在上交所科创板上市。该股开盘报182.00元，截至收盘报177.00元，涨幅274.44%，成交额 37.39亿元，振幅48.40%，换手率69.80%，总市值709.77亿元。 影石创新专注于全景相机、运动相机等智能影像设备的研发、生产和销售，是以全景技术为基点的 全球知名智能影像设备提供商，发展形成了由全景技术、防抖技术、AI影像处理技术、计算摄影技术 等为核心的技术体系。 本次发行前，北京岚锋创视网络科技有限公司直接持有公司29.9376%的股份，系公司控股股东。 岚沣管理咨询(深圳)合伙企业(有限合伙)直接持有公司4.0667%的股份，其与北京岚锋同为刘靖康控制的 企业，系公司控股股东一致行动人。 本次发行前，刘靖康通过持有北京岚锋、岚沣管理间接控制公司29.9376%、4.0667%的股份，合计 可支配公司34.0043%的表决权，通过北京岚锋、岚沣管理、澜烽管理、岚烽管理、厦门富凯、汇智同 裕、深圳麦高间接持有公司29.8891%的股份，系公司实际控制人。本次发行前，刘靖康配偶、一致行 ...

作 者丨申俊涵 杨坪 编 辑丨林坤 张伟贤 金珊 今天，科创板迎来首位90后创始人！ 6月11日上午，当上市钟声在大厅回响，影石创新迎来历史性时刻。 公开资料显示，影石创新创立于2015年 ，是以全景技术为基点的全球知名智能影像品牌，最早以VR及全景相机起家，2017年切入运动相机市 场，目前旗下设有消费级和专业级两条产品线，覆盖360度全景相机、运动相机、手机稳定器、视频会议相机。 影石创新的创始人刘靖康， 1991年出生于广东中山，2010年进入南京大学软件学院就读，在校期间已是校园里的风云人物。 他曾因多个技术 创新的操作，被大家称为"技术帝"。其最知名的一项事迹是，曾通过电视台主持人拨打时按键声音的细微差异，破译了360公司创始人周鸿祎 的手机号码 。 刘靖康，图源：公司官微 2014年，刘靖康大学毕业，拿到来自IDG资本的几百万人民币天使投资后，他正式组建公司创业。在做"V直播"业务期间，刘靖康敏锐判断 360°内容将是影像的发展方向，但当时市面上缺少过硬的产品。 上市首日，影石创新开盘价182元，一度涨超290%， 最高价达187.99元，个人投资者中一签新股最多可以赚到7万元。 截至收盘，股价报 ...

经过长达四年多的上市努力，6月11日，影石创新（688775.SH）正式登陆上海证券交易所科创板。上市首日开盘价为182元/股，较发行价上涨285%，总 市值突破700亿元。此次影石创新科创板上市募资19.38亿元，为2025年以来上交所整体募资额第三，科创板排名第一。 公开资料显示，影石创新创始人刘靖康籍贯是广东省梅州市，1991年出生于广东中山，他毕业于南京大学软件学院，大学期间因多次尝试技术创新被称 为"技术帝"。现年34岁的他也被称为"科创板第一位'90后'创始人"。 截至今日14:35，影石创新最新股价。 切入小众赛道练就"全球第一" 据悉，影石创新主打的全景运动相机领域并不是一个热门的消费品类。在2015年影石创新成立时，运动相机GoPro已呈现增速放缓的"疲态"，当时刘靖康 的思路也不在蓝海市场，而是凭借科技研发，做好产品本身，而形态独特的 X 系列全景运动相机和GO系列拇指相机的诞生，撬动了消费者的好奇心，并 在一些独特的"视角"上引发关注，比如影石的全景相机 X 系列曾随老鹰俯瞰过壮丽山河，也曾跟随长城二号进入太空拍下了地球美景。 在这背后，是影石创新研发投入的不断加码，近三年，影石创新累计 ...