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 investment rating for the company is "Buy - A" with a target price of 31.36 CNY, maintaining the rating [2][5]. Core Views - The company has shown steady revenue growth primarily due to the consolidation of Huahong Technology, which generated revenue of 41.31 million CNY and a net profit of 6.10 million CNY in the first half of 2024. The overall demand for mechanical sensors remains stable [1]. - The company is actively pursuing mergers and acquisitions to enhance its sensor business, focusing on various physical quantity sensors such as robotics, tactile, visual, and inertial sensors. The strategic investment tasks have been largely achieved in the first half of 2024 [1][5]. - The company has developed a series of six-dimensional force/moment sensors and has sent samples to multiple domestic collaborative robot and humanoid robot clients, indicating a strong focus on robotics sensor applications [1][5]. Financial Performance - In the first half of 2024, the company achieved operating revenue of 555 million CNY, a year-on-year increase of 9.42%. However, the net profit attributable to shareholders decreased by 16.57% to 117 million CNY [1]. - The company's gross profit margin for the first half of 2024 was 43.43%, up 0.79 percentage points year-on-year, while the net profit margin was approximately 23.55%, down 5.82 percentage points year-on-year [1][6]. - The company expects net profits for 2024-2026 to be 317 million CNY, 362 million CNY, and 413 million CNY, representing growth rates of 1.5%, 14.1%, and 14.2% respectively [5][6]. Market Position and Strategy - The company is enhancing its business layout in smart warehousing, current sensors, and water quality sensors through acquisitions of several subsidiaries [1]. - The company has also invested in a semiconductor technology company to secure high-quality domestic replacement chips, which is expected to contribute to performance starting in the second half of 2024 [1][5]. - The company is focusing on the development of tactile sensors in collaboration with various enterprises, indicating a commitment to innovation and market expansion [1][4].