Core Viewpoint - Liu Jingkang, a 90s entrepreneur, demonstrates courage by challenging global market giants and launching innovative projects like drones despite facing significant pressure [4][6]. Group 1: Company Overview - Liu Jingkang founded Insta360, which has become the global market leader in panoramic cameras, achieving a gross margin exceeding 50% from 2022 to Q1 2025, nearly double the average for similar companies [6]. - The company has shown consistent revenue growth, with quarterly revenues increasing by over 40% [6]. Group 2: Product Development and Market Strategy - Insta360's first product, Nano, launched in 2016, addressed transmission speed issues that competitors like Samsung and Ricoh had not solved [11]. - The company has expanded its product line to include action cameras, video conferencing cameras, and automatic editing software, with the ONE R model recognized in TIME magazine's "Invention of the Year" list in 2020 [11]. - The AcePro product line, launched in 2021, has grown from contributing 3% to 10.44% of the company's revenue by the end of 2023, showcasing the company's ability to identify and meet deeper user needs [14]. Group 3: Competitive Landscape - Insta360 competes against major players like GoPro and DJI in the action camera market, with a focus on innovative solutions that address specific user demands [11][14]. - Liu Jingkang emphasizes learning from both successful and unsuccessful strategies of competitors to avoid pitfalls in product development [12][13]. Group 4: Leadership and Company Culture - Liu Jingkang is known for his hands-on approach to leadership, often making significant decisions about product development, even at the cost of previous investments [13]. - The company culture encourages creativity and innovation, with Liu Jingkang actively involved in brainstorming product ideas during the early stages of the company [15].