Insta360 goes public on Shanghai stock market

On June 11, 2025, Chinese camera maker Insta360 made a splashy debut on Shanghai’s STAR Market, with its stock surging 285% on opening day and its market capitalization briefly topping ¥70 billion (over $10 billion). Founder JK Liu rang the opening bell while wielding an Insta360 X5 panoramic camera, marking him as the first 1990s-born founder to lead a company to China’s Nasdaq-style board. The blockbuster IPO is the culmination of a decade-long journey of entrepreneurial grit and continuous innovation.

According to Forbes, trading as Arashi Vision, the Shenzhen-headquartered camera maker raised 1.94 billion yuan ($270 million) in its debut on the Shanghai bourse’s Science and Technology Innovation Board (STAR Market) on Wednesday. It opened at 182 yuan, 285% above its IPO price of 47.27 yuan, reaching a peak of almost 188 yuan before closing at 177 yuan. This was the largest listing on the STAR Market this year, and proceeds will mainly be used to back future research and development.