Core Viewpoint - Dahua Technology is advancing the independent listing of its subsidiary, Zhejiang Huari Technology Co., Ltd., by shifting its proposed listing location from domestic exchanges to the Hong Kong Stock Exchange, aiming to enhance its financing capabilities and brand effect [1][2]. Group 1: Company Developments - Dahua Technology's board has approved the adjustment of Huari Technology's listing location to the Hong Kong Stock Exchange and authorized management to prepare for the overseas listing [1]. - The company transferred assets related to its robotics business to Huari Technology in December 2020, and initiated the domestic spin-off listing in September 2021 [1]. - Dahua Technology currently holds a 32.58% stake in Huari Technology, which focuses on machine vision and mobile robotics [1]. Group 2: Financial Performance - In 2024, Dahua Technology reported a revenue of 32.181 billion yuan, a slight decrease of 0.12% year-on-year, with a net profit of 2.906 billion yuan, down 60.53% [2]. - The innovative business segment, including Huari Technology, generated a revenue of 5.566 billion yuan, reflecting a year-on-year growth of 13.44%, with a gross margin of 32.35%, down 2.62 percentage points [2]. Group 3: Market Expansion - The decision to list Huari Technology in Hong Kong is part of Dahua Technology's strategy to expand into international markets and enhance global visibility [3]. - In 2024, Dahua Technology achieved overseas revenue of 16.294 billion yuan, a growth of 6.31%, accounting for 50.63% of total revenue, surpassing domestic revenue [3]. - In the first quarter of 2025, the company reported a revenue of 6.256 billion yuan, a year-on-year increase of 1.22%, and a net profit of 0.653 billion yuan, up 16.45% [3].