Companies in the GBA｜A Decade to Crown: The True Story of DJI

南方财经全媒体记者 杨雨莱 广州报道

For drone-lovers, there are only two types of drones in the world, DJI drones, and others. The drone market is no stranger to change, yet DJI remains at a decisive standing among global drone manufacturers.

As an indispensable aid in aerial photography and a "magic wand" of sorts in industrial application, DJI became the first stop in Ma Ying-jeou's mainland tour with Taiwanese youth in Shenzhen, Guangdong.

How did DJI drones reach such lofty heights? DJI is encoded with the innovation gene present throughout the Greater Bay Area. Wang Tao, DJI's founder, went to HKUST due to his interest in remote control helicopters, where he met his mentor, professor Li Zexiang.

Li has long been dedicated to the coordination of scientific innovation and industrial development in the Greater Bay Area, incubating many tech firms there, and led the early development of DJI. But Wang is the one who fully mobilized the rise of DJI, a "notorious" perfectionist, known for his relentless pursuit of technological advancement.

DJI employees attest that, even when it comes to tightening a single screw, wang would personally instruct them on the precise degree of perfection required. By the end of December 2022, DJI had over 20,000 patent applications. It can proudly state that "every single drone component is produced by DJI itself".

According to market estimate, DJI's market cap has reached nearly 160 billion yuan. But why hasn't it go public? The typical reasons for listing include attracting investment and increasing brand awareness, which are no longer necessary for DJI.

In 2021, DJI had already accounted for 76% of the market share among global drone manufacturers. A monopolistic advantage yields DJI consecutive growth in revenue, along with a heightened level of brand awareness both at home and abroad.

As for DJI, the ultimate goal is to continue to develop better products. Trying to define DJI from a single perspective of aerial photography, is much too limiting. From surveying and mapping to electric power, petroleum, and natural gas exploration… DJI has dabbled in various industries and established itself as an all-rounder. Soaring over the farmlands of Japan, surveying the fire of Notre Dame de Paris…DJI's drones are ubiquitous. 

Despite the flourishing drone market, DJI cannot afford to rest on its laurels. The consumer drone market, which is DJI's primary sector, has a relatively low ceiling in terms of growth potential.  Even with complete dominance of the domestic market share, DJI’s overall size and corporate scale would remain limited. 

Moreover, DJI heavily relies on offline distribution channels and overseas markets. Faced with challenges such as trade tensions and decoupling risks, the company inevitably encounters a growing array of risks to its growth prospects. How does the company navigate these uncertain terrains? To do so, DJI is pursuing “the second growth curve”. This involves maintaining its position in the consumer market while exploring new industry markets.

Another strategy is to venture into uncharted territories, stepping out of its "comfort zone". DJI has already made moves in areas such as electric bicycles and photography. Even in an era where Apple has abandoned vehicle manufacturing, DJI has reportedly made significant strides in this field. Thanks to its pursuit of perfection, DJI has altered the entire industry. It has become the benchmark model that binds together thousands of drone-related industries across Shenzhen and even throughout the entire Greater Bay Area.

Nevertheless, the outcome of these new explorations remains uncertain. Just as no one could have predicted DJI's journey from a village in Shenzhen to global prominence, the future heights it may reach as a shining example of "Made in China" are worth anticipating.

出品：南财国际传播中心 21新媒体中心 创意互动中心

策划统筹：于晓娜 丁青云

内容统筹：谭婷 刘巷

责任编辑：李香香

执行统筹：黄欣然 

设计统筹：林军明

视频统筹：白宇航

监制：施诗

英文翻译&配音：李莹亮

海外运营监制: 黄燕淑

海外运营内容统筹: 黄子豪

运营支持：曾静娇

审校：孙静芳 黄志明