HIKVISION(SZ:002415) Ge Long Hui A P P·2025-10-20 08:11Core Viewpoint - Hikvision's innovative business achieved revenue of 11.766 billion yuan in the first half of 2025, representing a year-on-year growth of 13.9%, with revenue contribution reaching 28.1% [1] Group 1: Innovative Business Performance - The growth in innovative business is driven by synergies from Hikvision's robotics, smart home, automotive electronics, and thermal imaging sectors [1] - The robust development of innovative business injects new momentum for the company's long-term sustainable growth [1] Group 2: Market Trends and Future Outlook - The demand for machine vision and mobile robots continues to be strong due to the rapid development of smart manufacturing, industrial automation, and artificial intelligence technologies [1] - Hikvision maintains a solid market position in robotics, with continuous expansion of its business scale [1] - The storage market is expected to see improved supply-demand balance in the second half of the year, with contract prices for various NAND Flash products likely to rise, leading to marginal improvements in Hikvision's storage performance [1] Group 3: Investment Rating - The company is optimistic about the performance growth and valuation reshaping brought by innovative business, maintaining a "buy" rating for the stock [1]