柯力传感：投并购进展顺利下半年有望发力，六维力/力矩传感器已多家送样

Investment Rating - The report maintains a "Buy - A" rating for the company, with a 6-month target price of 31.36 CNY, corresponding to a 28X PE for 2024 [2][6]. Core Views - The company achieved a revenue of 555 million CNY in H1 2024, representing a year-on-year growth of 9.42%. However, the net profit attributable to shareholders decreased by 16.57% to 117 million CNY [1]. - The revenue growth was primarily driven by the consolidation of Huahong Technology, which contributed 41.31 million CNY in revenue and 6.10 million CNY in net profit during H1 2024 [1]. - The company is actively pursuing mergers and acquisitions to enhance its sensor business, focusing on various physical quantity sensors related to robotics and IoT applications [1][2]. Financial Performance Summary - In Q2 2024, the company reported a revenue of 307 million CNY, a 6.76% increase year-on-year, while the net profit attributable to shareholders was 74 million CNY, down 12.21% [1]. - The comprehensive gross margin for H1 2024 was 43.43%, an increase of 0.79 percentage points year-on-year, indicating stable profitability [1]. - The company expects net profits for 2024-2026 to be 317 million CNY, 362 million CNY, and 413 million CNY, reflecting growth rates of 1.5%, 14.1%, and 14.2% respectively [6][8]. Strategic Developments - The company has successfully developed a series of six-dimensional force/moment sensors and has begun sampling to multiple domestic collaborative robot and humanoid robot clients [2]. - The strategic investment tasks of "Three Controls and One Participation" have been largely achieved, with the company strengthening its business layout in smart warehousing and various sensor fields through acquisitions [1][2].