Can DJI's "Turf" be breached by SH688775, an innovative company?

By Wang Jing, EveryNews

Recently, a video of SH688775's founder Liu Jingkang giving employees a surprise went viral online. Some people thought it was "capitalist show-off," while others questioned the company culture.

On August 15th, insiders from SH688775 told EveryNews that after the R&D department worked overtime, they released the A1 drone on August 14th. The company organized team-building activities to express gratitude and a video clip was circulated online, causing some misunderstandings, for which the company apologized. In the future, the company will use better ways to motivate teams and give back to users through more innovative means.

Behind the "cash giveaway" video is a more significant reality: SH688775 is attacking DJI's long-standing dominance in the consumer-level drone market with its A1 drone. It's worth noting that DJI recently officially announced the release of their first panorama camera.

Notably, after the release of the A1 drone, SH688775's stock price rose sharply on August 15th and 18th, with a total gain of "20CM."

The two Shenzhen giants are facing off.

SH688775, which has been a pioneer in the field of panorama cameras and sports cameras, is now expanding into the drone market. DJI, on the other hand, has long dominated the global consumer-level drone market with over 70% market share.

According to publicly available data, SH688775 was founded in 2015 and initially focused on developing panorama cameras and sports cameras. In 2016, they released their first consumer-level panorama camera, Nano, which became a hit due to its instant sharing features. Today, the company's product matrix includes ONE X series (panorama action cameras), ACE series (sports cameras), GO series (wearable sports cameras), and more, once becoming an Amazon bestseller.

However, as the main battlefield approaches its "ceiling," cross-border expansion seems to be the only way to increase growth. On July 28th, SH688775 officially announced its entry into the drone market and released the Antigravity drone brand. On August 14th at 9pm, the product went on public testing.

According to insiders, the Antigravity drone has a weight of less than 249 grams, making it a small consumer-level drone. It comes equipped with two fisheye cameras and can capture panoramic images through stitching algorithms. In addition to capturing aerial photos, users can also experience "first-person flying" using the FPV goggles.

Unlike traditional drones that require setup before taking off, the panorama drone takes pictures first and then composes them. This means that users don't have to worry about missing scenes or repeated takeoffs; instead, they can freely choose their viewing angle in the 360-degree image.

As SH688775 announced its entry into the drone market, DJI also announced its first panorama camera, Osmo360. The camera's square HDR sensor can increase effective area utilization by 25% and supports 8K/50fps ultra-high-definition recording.

Cross-border expansion is driven by growth challenges.

Why did SH688775 choose to enter the drone market? Liu Jingkang, the founder of SH688775, responded publicly that it was driven by the company's mission and vision, as well as recognizing unmet customer demand and opportunities for market growth. He also mentioned that 5 years ago, he had anticipated this move would stimulate DJI to enter the panorama camera market, but even so, the company chose to take the leap.

"The leader of a marathon is always the top runner. You will run faster too." Liu Jingkang said. "Are you choosing to stay in the novice village or are you choosing a devil coach? Of course, the most important thing is that there are so many different types of consumer drones in the world that need cars."

It's worth noting that after announcing its entry into the drone market, SH688775's stock price rose sharply on August 15th and 18th, with a total gain of "20CM."

However, SH688775's financial data for the first quarter of this year reveals that the company's growth is slowing down. The data shows that from 2022 to 2024, SH688775's revenue grew by 65.25% per year, while its net profit grew by around 56.27%. In the first quarter of 2025, the company achieved revenue of 13.55 billion yuan, up 40.70% year-on-year; and net profit was 1.76 billion yuan, down 2.50% year-on-year.

On the other hand, DJI, which has long dominated the consumer-level drone market, also faces growth challenges.

As early as 2016, DJI's founder Wang Tao publicly stated that the drone market would soon reach saturation. For consumers, drones are a non-essential product with high uncertainty and low repeat purchases. Therefore, in recent years, DJI has been trying to expand its business boundaries by announcing its entry into the panorama camera market before releasing ROMO, a sweeping robot, and even venturing into agricultural drones, image systems, and education programming robots that seem unrelated to its main business.

This seemingly sudden crossover is actually a necessary breakthrough for both companies in the face of growth bottlenecks.