Shadow Stone Innovation (688775.SH), an intelligent imaging equipment research and development company, plans to publicly issue 41 million shares

According to Zhitong Finance App News, Shadow Stone Innovation (688775.SH) disclosed a prospectus. The company plans to publicly issue 41 million shares, accounting for 10.22% of the total share capital after issuance. The total number of shares involved in the strategic placement of Kageyishi's employee asset management program is no more than 10% of the current public offering, or 4.1 million shares; at the same time, the total subscription amount participating is no more than 137 million yuan. In addition, China Securities Investment participated in the strategic placement of this offering. The initial follow-up ratio is expected to be 5% of the current public offering, or 2.05 million shares. The initial inquiry date for this offering is May 27, 2025, and the subscription date is May 30, 2025. The company will apply for listing on the Shanghai Stock Exchange Science and Technology Innovation Board as soon as the issuance is completed.

Since its establishment, the company has focused on the R&D, production and sales of smart imaging devices such as panoramic cameras and action cameras. It is a world-renowned smart imaging equipment provider based on panoramic technology, and has developed a technical system centered on panoramic technology, anti-shake technology, AI image processing technology, and computational photography technology. The company's brand “Insta360 Shadow Stone” products are sold all over the world through a combination of online and offline channels. Online sales are mainly carried out through the company's official store, Amazon, Tmall, JD, etc.; offline sales networks spread across more than 60 countries and regions around the world.

The company's net profit attributable to shareholders of the parent company from 2022 to 2024 was: 407 million yuan, 830 million yuan, and 995 million yuan, respectively. In addition, from January to June 2025, the company is expected to achieve operating income of 3,214 billion yuan - 38.15 billion yuan, a change of about 32.38% to 57.10% over the same period last year; net profit of 494 million yuan - 583 million yuan, a change of about -4.65% - 12.49% over the same period last year.

After deducting the distribution costs, the company plans to invest in the smart imaging equipment production base construction project and the Cingshi Innovation Shenzhen R&D center construction project. The total amount of capital raised is about 464 million yuan. As of December 31, 2024, the smart imaging equipment production base construction project has completed the infrastructure project and is still in the decoration, equipment procurement and commissioning stage. It is expected that construction will be completed and put into use in 2025; the construction project for the Shenzhen R&D Center of Shadow Stone Innovation has not yet begun.