研報掘金丨華福證券:C影石積極迭代產品,硬件軟件雙端持續升級
華福證券研報指出,全景相機系C影石(688775)核心品類,貢獻半成以上營收。2024年公司全景運動相機(ONE系列)營收約30 億元,佔主營比重約54%,非全景運動相機(Ace 系列+GO 系列)營收約15億元,佔主營比重約27%。公司積極迭代產品,硬件軟件雙端持續升級。目前公司產品尤其是全景相機產品與同行業可比公司同類產品相機在價格、分辨率、續航、流暢性方面的性能比較中具有較強的綜合競爭力。認爲公司在全景領域絕對領先地位突出,且有望更受益於品類需求的高景氣,但考慮新股上市股價波動較大,首次覆蓋,暫不給予評級。
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