On September 14th, Guo Lian Hui pointed out in a research report that in the first half of the year, Dahua Technology's net income attributable to shareholders of the parent company decreased by 8% year-on-year to 1.81 billion yuan, while the non-recurring net income attributable to shareholders of the parent company increased slightly year-on-year. Overseas and innovative businesses have grown rapidly. Among them, the revenue from overseas business increased by 9% to 7.49 billion yuan, accounting for more than 50% for the first time; the revenue from innovative business increased by 9% to 2.46 billion yuan. Huirui's business revolves around machine vision and mobile robots. In the first half of the year, it was affected by cautious investment from corporate customers and its performance was under pressure. In the future, it will strengthen the research and development of new products, fill in the product series, and help Dahua enter the core business system from the peripheral systems of customers. According to the 20 times PE valuation of comparable companies in 2024, a target price of 21.20 yuan is given, and the "buy" rating is maintained.