Zhejiang Dahua Technology (SZ:002236) 3 6 Ke·2026-01-20 12:11Core Viewpoint - Zhejiang Huairui Technology Co., Ltd. (referred to as "Huairui Technology") has submitted its prospectus for an IPO on the Hong Kong Stock Exchange, with a focus on AI-enabled machine vision and autonomous mobile robot (AMR) products and solutions [1][2]. Financial Performance - For the nine months ending September 30, 2025, Huairui Technology reported revenue of 824 million RMB, with a gross profit of 294 million RMB and a net loss of 25.97 million RMB, representing a loss margin of 3.2% [7][9]. - The projected revenues for 2023 and 2024 are 1.05 billion RMB and 902 million RMB, respectively, with gross profits of 352.69 million RMB and 257.02 million RMB [7][10]. Business Segments - Huairui Technology operates in two main business lines: machine vision and AMR, focusing on high-end equipment manufacturing for strategic industries such as new energy, semiconductors, automotive, and PCB [2][4]. - In the machine vision segment, the company provides core components and products, including standard vision products, AI vision products, and customized solutions [4][6]. - The AMR business offers standardized solutions for key industries, including lithium battery, automotive, and electronics manufacturing, enabling automated and digital logistics processes [7][9]. Market Position and Strategy - Huairui Technology's products and solutions drive significant value by facilitating the digital transformation of downstream industries, with machine vision products widely used for high-speed and high-precision tasks across various sectors [6][8]. - The company aims to enhance its market presence by leveraging its AI algorithms and comprehensive solutions tailored to specific customer needs [4][6]. Shareholding Structure - Prior to the IPO, Dahua Technology holds a 32.58% voting power in Huairui Technology, with key individuals such as Fu Liqian and Chen Ailing recognized as actual controllers [1][12].