Soochow Securities research report pointed out that Hangzhou Hikvision Digital Technology (002415.SZ) had a net income of 5.06 billion yuan in the first half of the year, a 5% year-on-year decrease; Q2 net income of 3.15 billion yuan, a 11% year-on-year decrease. Non-net income of 3.48 billion yuan, a slight increase of 0.02% year-on-year, under the external environment of stable domestic economic fluctuations and gradual recovery of overseas markets, the company's overall performance is stable and good. In the first half of the year, under the influence of factors such as tightening local fiscal funds and overall investment slowdown in downstream industries, the company's traditional business revenue was under pressure. Under the trend of promoting government-owned enterprises to improve quality, increase efficiency, reduce costs, and promote high-quality economic development through technological innovation, the company continues to promote AI big models to empower enterprise digital transformation, which is expected to bring long-term growth momentum to the company's three business groups. Automotive electronics, robots, and thermal imaging lead the innovation business, creating new growth engines. The company is a leader in the intelligent security industry, currently promoting the layout of new fields, continuously increasing the proportion of innovative business revenue and revenue, and maintaining a "buy" rating.