GLONGHUI July 10丨Pacific Securities Research Report on the 9th pointed out that today's high boom on the racetrack where International (300532.SZ) is located supports rapid revenue growth. The sharp increase in net profit from 2023H1 is mainly due to strong demand for digital automation in enterprises. The scale of the company's completed implementation and confirmed revenue projects increased significantly compared to the same period last year. In the first half of 2023, the company strengthened cost control, optimized procurement costs, and increased the company's overall gross margin level. Recently, the company stated on the investor interactive platform that robot subsidiary products will definitely be sold separately to third parties, which is expected to accelerate the company's growth. The bank believes that the application of AI is expected to help the company reduce costs and increase efficiency, enhance the competitiveness of the company's product solutions in the field of intelligent warehousing and logistics, and at the same time improve operational efficiency and human efficiency. The company is deeply involved in intelligent warehousing and logistics, seizes the booming downstream opportunities of new energy and petrochemicals, and has achieved high performance growth. At the same time, profitability has improved and the quality and efficiency of operations have increased under the scale effect. The application of AI technology is expected to empower the company's business development, and the prospects for being deeply involved in the field of robotics for many years can be expected. The company's EPS is expected to be 1.22/1.79/2.58 yuan in 2023-2025 respectively, maintaining the “buy” rating.