(Yicai) Aug. 15 -- Shares in Arashi Vision surged by the exchange-imposed limit today after the leading Chinese panoramic imaging company, best known for its Insta360 panoramic camera, unveiled the specifications of its first drone, directly challenging industry giants such as DJI Technology with its advanced imaging technology.

Arashi Vision’s share price [SHA:688775] surged 20 percent to CNY224.42 (USD31.25). Since the firm debuted on Shanghai’s Nasdaq-style Star Market in June, the stock has almost quintupled in value.

Arashi Vision revealed the design of its first drone, the Antigravity A1, yesterday. The unmanned aerial vehicle will feature a stacked dual panoramic lens design with 360-degree image stitching technology and will be capable of shooting panoramic video in 8k resolution.

The drone is being co-developed with a third-party partner and is expected to hit the market in January next year, the Shenzhen-based company said. Open testing will start soon, it added.

On July 23, the firm said it plans to enter the consumer-grade drone market, aiming to tackle issues with existing drones, such as limited shooting angles and operational difficulties. This move puts Arashi Vision in direct competition with Shenzhen-based DJI, the world’s largest drone maker.

“If the marathon is led by a top runner, you’ll run faster too,” Liu Jingkang, who founded the company in 2015, posted on social media on July 29.

Arashi Vision focuses on developing cameras with a wide horizontal view for outdoor sports and photography enthusiasts. The Insta360 dominated the global panoramic camera market in 2023 with 67 percent market share, the firm said in its listing prospectus.

Last year, the company’s net profit soared 20 percent to CNY995 million (USD138.5 million) while revenue jumped 53 percent to CNY5.6 billion (USD779.6 million).

Editors: Dou Shicong, Kim Taylor