研報掘金丨天風證券:予C影石“增持”評級,技術卡位佔據優勢
天風證券研報指出,C影石是全球全景影像領域的龍頭企業,公司營業收入和利潤保持快速增長,2022-2024年研發費用率維持在12%-14%,體現其對技術投入的重視。消費級設備2023年銷售額佔比達86%;公司銷售模式以線上(第三方電商平臺、自營商城)和線下(經銷、直營)結合爲主,海外市場(尤其是北美、歐洲)貢獻主要收入。未來,公司計劃通過產能擴張、研發中心建設及市場拓展進一步鞏固競爭優勢。看好終端消費者攝像需求逐步增長,公司因技術卡位優勢,預計將持續維持市佔率,給予公司“增持”評級。
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