On October 29th, guolian Securities' research report pointed out that hangzhou hikvision digital technology (002415.SZ) recorded a net income attributable to mother of 8.108 billion yuan in the first three quarters, a year-on-year decrease of 8.40%; Q3 net income attributable to mother was 3.044 billion yuan, a year-on-year decrease of 13.37%. Domestic demand is under pressure, while overseas markets remain stable. In terms of domestic main businesses, the growth rate of PBG in the third quarter is positive, with water conservancy, water affairs, disaster prevention and relief, emergency management, and other businesses continuing to receive support from government bonds, ensuring a stable source of funds, and government business continues to grow; as for overseas main businesses, growth was maintained in the third quarter but at a slower pace, with positive growth in revenue for all four major business centers. Innovative businesses are affected by domestic demand, with growth slowing down compared to the first half of the year, while businesses such as microelectronics, autos electronics, and fire protection are growing rapidly. As the company is a global leader in the security sector, with the support of fiscal policies, the business is expected to gradually improve, maintaining a 'buy' rating.