海康威视：上半年汽车电子业务增速最快，但毛利率较低

Group 1 - Hikvision's eight innovative business segments show inconsistent gross margin levels, influenced by both structural factors and internal comparisons [2] - In the first half of the year, the automotive electronics segment experienced the fastest revenue growth among the eight innovative businesses, but it has a lower gross margin, which is a significant impact factor [2] - The storage segment's gross margin has declined due to cyclical fluctuations, which are typical in the industry [2] - The company has made operational adjustments that led to a year-on-year increase in the gross margin of its main business, which is expected to be sustainable [2] - Changes in product structure have shifted the focus from revenue to profit, resulting in the reduction of lower-margin products, thereby enhancing the main business's gross margin [2] - The company emphasizes delivering value rather than engaging in price competition, which benefits both the company and its partners [2] Group 2 - In recent years, China has seen the emergence of highly competitive industries globally, such as 3C and smart electric vehicles [3] - Leading companies in these industries are open to using new technologies and products, showing a strong willingness to adopt advanced smart manufacturing and digitalization solutions [3] - The overall competitiveness of these industries is expected to strengthen, enhancing the growth prospects for companies providing new technologies and products [3]