Insta360 Innovation Announcement in Response to Media Reports: All patents involved in the dispute with DJI are independent innovation achievements created by Insta360 Innovation employees during their tenure.

Everyday Reporter | Wen Duo Everyday Editor | Yang Jun

On March 23, 2026, Ying Shi Innovation (SH688775, stock price 181.15 yuan, market value 72.641 billion yuan) issued a “Notice Regarding Media Reports,” responding to reports from multiple media outlets on that day about “DJI suing Ying Shi Innovation over six patent ownership disputes.”

The announcement stated that the company has not yet received relevant litigation materials. After careful internal investigation, it was found that the involved employees joined within one year after leaving DJI. “The patent applications filed by these employees as inventors during this period are, based on current evidence, all autonomous innovations created during their tenure at the company,” and the patents involved in the dispute are not core patents of the company.

Ying Shi Innovation expects this matter will not significantly impact the company’s production and operations.

On March 23, Ying Shi Innovation’s stock price closed down 6.98%, consistent with the overall market decline.

Ying Shi Innovation states “Research and Development Are Legal and Compliant”

In the announcement, Ying Shi Innovation said that it has noted recent media reports that Shenzhen DJI Innovation Technology Co., Ltd. filed a lawsuit against the company in the Intermediate People’s Court of Shenzhen, Guangdong Province, involving six patent ownership disputes. The company’s preliminary verification indicates that, so far, it has not received any court-served litigation documents.

Ying Shi Innovation mentioned that the employees involved, as reported by the media, joined Ying Shi Innovation within one year after leaving DJI. The company states that the patent applications filed by these employees as inventors during this period are, according to current evidence, all autonomous innovations created during their employment at Ying Shi Innovation, and the R&D process is legal and compliant.

Liu Jingkang, founder of Ying Shi Innovation, said on social media, “DJI’s demand is that all patents created by employees within one year of leaving should belong to DJI. We have carefully checked the patents filed by involved employees during that period, and current evidence shows they are all ideas and independent innovations developed within Ying Shi Innovation.” He also added, “DJI suing Ying Shi Innovation is just a normal part of the competition between tech companies. We should wait for the court’s proper evidence collection and investigation procedures.”

Regarding why the involved patents do not disclose the inventors’ names, Ying Shi Innovation explained that this is strictly in accordance with the inventors’ wishes and relevant laws, regulations, and normative documents, with no intention of evading legal obligations or concealing true information.

Ying Shi Innovation also stated that, after internal verification, the patents involved in this dispute are not core or significant patents of the company. This matter does not meet the disclosure standards for major lawsuits and is not expected to significantly affect the company’s production, operations, financial condition, or future development.

From Product Battles to Court Clashes

Behind this lawsuit is the increasingly fierce market competition between the two companies in the field of intelligent imaging devices. Since 2025, Ying Shi Innovation and DJI have engaged in direct competition in the panoramic camera and drone markets.

In 2025, Ying Shi Innovation entered the drone market dominated by DJI with its Ying Ling A1 panoramic drone. DJI, which has long focused on drones and action cameras, suddenly announced two new products—Osmo Nano and Osmo 360—marking its entry into the panoramic camera market.

Market data shows that DJI has long held over 70% of the global consumer drone market share. Ying Shi Innovation, on the other hand, once monopolized the panoramic camera market, with a global market share exceeding 85%.

The competition between the two quickly extended from product level to a full-scale confrontation. DJI’s lawsuit against Ying Shi Innovation is seen by the market as a counterattack by DJI, and after both companies have penetrated into each other’s territory and the competition has become intense, this has evolved from market rivalry into a direct legal confrontation.

According to Ying Shi Innovation’s 2025 annual performance report, the company achieved a total operating revenue of 9.858 billion yuan, a year-on-year increase of 76.85%, setting a new record. However, net profit attributable to shareholders was 964 million yuan, down 3.08% year-on-year, showing a pattern of “increased revenue but not increased profit.”

Ying Shi Innovation recently concluded the GoPro-triggered “337 Investigation” with a decisive victory in February 2026, becoming a benchmark for Chinese high-tech companies’ overseas patent rights protection.

Cover image source: Kong Zesi