Core Viewpoint - The report from Zhongyin International indicates that Qiu Tai Technology benefits from the trend of optical image stabilization (OIS) and periscope lens specifications upgrades in Android smartphones, along with a close collaboration with Goodix Technology to enhance market share in ultrasonic fingerprint modules. The company's performance in the first half of the year was strong, with a gross margin reaching a new high of 7.4% since the second half of 2021, and a net profit of 308 million yuan, representing a year-on-year growth of 168%, in line with previous profit warnings [1] Group 1 - Qiu Tai Technology's non-smartphone business, including IoT and automotive modules, has become a key growth engine, contributing 23.9% to the total revenue of camera modules in the first half of the year [1] - The company is expected to continue securing more design orders from leading original equipment manufacturers (OEMs) in sectors such as automotive, drones, XR, lidar, and robotics due to its ongoing investment in components, modules, and complete machines [1] Group 2 - Zhongyin International maintains a "buy" rating for Qiu Tai Technology and raises the target price from 11.6 HKD to 16.4 HKD [1]