8 February 2026 | 8:36PM HKT Equity Research Insta360 (688775.SS) Global 360 camera leader with Action cameras, accessories and drones in expansion; Initiate at Buy with TP at Rmb311 688775.SS 12m Price Target: Rmb311.00 Price: Rmb223.37 Upside: 39.2% We identify Insta360 as the key beneficiary of growing adoption of Action and 360 cameras thanks to its strong branding, stylish design, easy-to-use functions and portability, as well as longer battery life over traditional cameras. In addition, innovative acc ...

Product Comparison & Market Entry - DJI enters the 360 camera market, challenging Insta360's dominance [1][17] - DJI Osmo 360's form factor is shorter and wider than Insta360 X5, with a weight difference of 20 grams, favoring helmet mounting [3][4] - DJI is not officially selling the Osmo 360 in the US via official DJI channels, details pending clarification [3] Technical Specifications & Performance - Osmo 360 features two one-inch square sensors for better power consumption and sensor utilization [6][7] - Osmo 360 can shoot 8K video at up to 50 frames per second, surpassing X5's 8K/30fps, but X5 excels in slow motion with 4K/120fps [7][8] - Osmo 360 offers 10-bit color, while X5 shoots in 8-bit, both support HDR and log settings [9] - DJI quotes 100 minutes of continuous recording at 8K/30fps, with a 1950mAh battery, while X5 has a 2400mAh battery [12] Software & Ecosystem - DJI introduces a new desktop app called DJI Studio and the mobile app is similar to Insta360 X5 [13][14] - The industry anticipates DJI to offer a cloud subscription service for easier video editing and storage [15]