Hikvision Financial Fact Book (2010-2024)

Consolidated Income Statement (Key Indicators)

Unit: RMB million

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

Revenue

3,605

5,232

7,214

10,746

17,233

25,271

31,924

41,905

49,837

57,658

63,503

81,420

83,166

89,340

92,496

(YoY)

45.1%

37.9%

49.0%

60.4%

46.6%

26.3%

31.3%

18.9%

15.7%

10.1%

28.2%

2.1%

7.4%

3.5%

Costs of Sales and Service

1,744

2,634

3,665

5,629

9,578

15,137

18,650

23,467

27,483

31,140

33,958

45,329

47,996

49,637

51,954

(%)

48.4%

50.4%

50.8%

52.4%

55.6%

59.9%

58.4%

56.0%

55.1%

54.0%

53.5%

55.7%

57.7%

55.6%

56.2%

Gross Profit

1,862

2,597

3,549

5,117

7,655

10,135

13,274

18,438

22,354

26,518

29,546

36,091

35,170

39,703

40,542

(%)

51.6%

49.6%

49.2%

47.6%

44.4%

40.1%

41.6%

44.0%

44.9%

46.0%

46.5%

44.3%

42.3%

44.4%

43.8%

Selling Expenses

465

626

732

927

1,533

2,179

2,991

4,430

5,893

7,257

7,378

8,586

9,773

10,843

12,051

(%)

12.9%

12.0%

10.1%

8.6%

8.9%

8.6%

9.4%

10.6%

11.8%

12.6%

11.6%

10.5%

11.8%

12.1%

13.0%

Administrative Expenses

129

162

164

174

345

489

673

1,011

1,376

1,822

1,790

2,132

2,642

2,770

3,096

(%)

3.6%

3.1%

2.3%

1.6%

2.0%

1.9%

2.1%

2.4%

2.8%

3.2%

2.8%

2.6%

3.2%

3.1%

3.3%

Research and Development (R&D) Expenses

244

341

606

922

1,301

1,723

2,433

3,194

4,483

5,484

6,379

8,252

9,814

11,393

11,864

(%)

6.8%

6.5%

8.4%

8.6%

7.5%

6.8%

7.6%

7.6%

9.0%

9.5%

10.0%

10.1%

11.8%

12.8%

12.8%

Financial Expenses

-19

-79

-72

-87

-82

-153

-226

265

-424

-640

396

-133

-990

-750

-115

(%)

-0.5%

-1.5%

-1.0%

-0.8%

-0.5%

-0.6%

-0.7%

0.6%

-0.9%

-1.1%

0.6%

-0.2%

-1.2%

-0.8%

-0.1%

Other Operating Expenses (Income)

56

76

129

234

181

403

572

-906

-1,309

-1,113

-1,594

-1,220

-852

-592

-667

(%)

1.6%

1.5%

1.8%

2.2%

1.0%

1.6%

1.8%

-2.2%

-2.6%

-1.9%

-2.5%

-1.5%

-1.0%

-0.7%

-0.7%

Operating Profit

986

1,472

1,989

2,947

4,378

5,494

6,830

10,443

12,336

13,708

15,197

18,474

14,783

16,039

14,312

(%)

27.3%

28.1%

27.6%

27.4%

25.4%

21.7%

21.4%

24.9%

24.8%

23.8%

23.9%

22.7%

17.8%

18.0%

15.5%

Non-operaing Net Income

157

256

324

439

829

1,256

1,480

44

103

48

76

-6

72

60

-31

(%)

4.3%

4.9%

4.5%

4.1%

4.8%

5.0%

4.6%

0.1%

0.2%

0.1%

0.1%

0.0%

0.1%

0.1%

0.1%

Income Tax Expenses

91

245

173

309

526

868

890

1,109

1,057

1,290

1,595

957

1,298

943

1,202

(Income Tax Rate)

7.9%

14.2%

7.5%

9.1%

10.1%

12.9%

10.7%

10.6%

8.5%

9.4%

10.4%

5.2%

8.7%

5.9%

8.4%

Profit or Loss Attributable to Minority Shareholders

1

1

4

10

15

13

-2

-33

29

51

293

710

720

1,048

1,164

(%)

0.0%

0.0%

0.0%

0.1%

0.1%

0.1%

0.0%

-0.1%

0.1%

0.1%

0.5%

0.9%

0.9%

1.2%

1.3%

Net Profit Attributable to Owners of Parent

1,052

1,481

2,137

3,067

4,665

5,869

7,422

9,411

11,353

12,415

13,386

16,800

12,837

14,108

11,977

Company (YoY)

40.8%

44.3%

43.5%

52.1%

25.8%

26.5%

26.8%

20.6%

9.4%

7.8%

25.5%

-23.6%

-16.0%

-15.1%

(%)

29.2%

28.3%

29.6%

28.5%

27.1%

23.2%

23.2%

22.5%

22.8%

21.5%

21.1%

20.6%

15.4%

15.8%

12.9%

Note: 1. "(%)" are percentages with Revenue as the denominator

2. Income Tax Rate = Income Tax Expenses / Net Profit before Tax

Consolidated Balance Sheet (Key Indicators) Consolidated Cash Flow Statement (Key Indicators)

Unit: RMB million

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

Current Assets

5,985

7,401

8,812

12,390

19,108

26,682

36,523

44,653

53,627

64,026

74,763

86,019

97,907

113,151

102,481

Cash and Bank Balances

4,650

5,244

5,535

4,593

7,200

10,107

13,635

16,468

26,552

27,072

35,460

34,722

40,012

49,629

36,271

Notes Receivable & Accounts Receivable

641

1,256

1,915

3,663

6,157

11,170

14,086

18,342

19,189

22,281

23,283

27,698

32,426

38,421

40,633

Inventories

625

769

1,018

1,429

2,292

2,819

3,825

4,940

5,725

11,268

11,478

17,974

18,998

19,211

19,111

Non-current Assets

564

916

1,778

1,682

2,183

3,634

4,816

6,918

9,858

11,332

13,939

17,845

21,327

25,697

29,536

Total Assets

6,549

8,317

10,589

14,072

21,291

30,316

41,339

51,571

63,484

75,358

88,702

103,865

119,233

138,848

132,016

Current Liabilities

895

1,481

1,895

2,823

6,112

10,274

12,116

17,201

24,709

23,521

31,225

33,292

34,356

44,412

37,645

Notes Payable & Accounts Payable

409

698

1,075

1,609

3,592

6,079

7,885

10,885

10,765

13,940

14,631

17,230

17,233

20,327

21,382

Non-current Liabilities

12

21

23

44

299

745

4,736

3,765

811

6,364

2,997

5,178

11,907

12,272

6,871

Total Liabilities

907

1,503

1,918

2,867

6,411

11,019

16,852

20,967

25,520

29,885

34,222

38,470

46,263

56,684

44,516

Total Owners' Equity Attributable to Owners of the Company

5,640

6,810

8,657

11,178

14,842

19,254

24,289

30,358

37,590

44,904

53,794

63,461

68,389

76,354

80,669

Minority Equity

2

4

15

26

37

44

198

246

374

569

685

1,934

4,581

5,809

6,832

Total Owners' Equity

5,642

6,814

8,671

11,204

14,879

19,297

24,487

30,604

37,964

45,473

54,480

65,395

72,970

82,163

87,500

Total Liabilities and Owners' Equity

6,549

8,317

10,589

14,072

21,291

30,316

41,339

51,571

63,484

75,358

88,702

103,865

119,233

138,848

132,016

Unit: RMB million

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

Net Increase (Decrease) in Cash and Cash Equivalents

3,528

595

290

-950

2,527

2,922

3,486

2,507

9,995

485

8,509

-421

5,211

9,604

-13,375

Net Cash Flows from Operating Activities

664

1,170

1,437

1,863

3,706

3,217

6,214

7,373

9,114

7,768

16,088

12,709

10,164

16,632

13,264

Net Cash Flows from Investing Activities

-219

-229

-836

-2,370

-1,041

-75

-3,383

-1,209

1,451

-1,923

-2,555

-3,156

-3,725

-3,987

-4,548

Net Cash Flows from Financing Activities

3,090

-326

-308

-419

-120

-119

443

-3,402

-805

-5,471

-4,560

-9,791

-1,456

-3,145

-22,079

Effect of Exchange Rate Changes on Cash and Cash Equivalents

-7

-21

-2

-24

-19

-101

213

-256

235

111

-464

-182

229

113

-12

Opening Balance of Cash and Cash Equivalents

1,121

4,649

5,244

5,534

4,584

7,111

10,033

13,522

16,029

26,031

26,516

35,025

34,604

39,815

49,428

Closing Balance of Cash and Cash Equivalents

4,649

5,244

5,534

4,584

7,111

10,033

13,519

16,029

26,024

26,516

35,025

34,604

39,815

49,419

36,053

Unit: RMB million

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

Revenue

3,605

5,232

7,214

10,746

17,233

25,271

31,924

41,905

49,837

57,658

63,503

81,420

83,166

89,340

92,496

(YoY)

45.1%

37.9%

49.0%

60.4%

46.6%

26.3%

31.3%

18.9%

15.7%

10.1%

28.2%

2.1%

7.4%

3.5%

Net Profit Attributable to Owners of Parent Company

1,052

1,481

2,137

3,067

4,665

5,869

7,422

9,411

11,353

12,415

13,386

16,800

12,837

14,108

11,977

(YoY)

40.8%

44.3%

43.5%

52.1%

25.8%

26.5%

26.8%

20.6%

9.4%

7.8%

25.5%

-23.6%

9.9%

-15.1%

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

Weighted Average Return on Shareholder's Equity

27.4%

24.0%

27.7%

30.9%

36.3%

35.3%

34.6%

35.0%

34.0%

30.5%

27.7%

29.0%

19.6%

19.6%

15.3%

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

Gross Profit Margin

51.6%

49.6%

49.2%

47.6%

44.4%

40.1%

41.6%

44.0%

44.9%

46.0%

46.5%

44.3%

42.3%

44.4%

43.8%

Selling Expense Ratio

12.9%

12.0%

10.1%

8.6%

8.9%

8.6%

9.4%

10.6%

11.8%

12.6%

11.6%

10.5%

11.8%

12.1%

13.0%

Administrative Expense Ratio

3.6%

3.1%

2.3%

1.6%

2.0%

1.9%

2.1%

2.4%

2.8%

3.2%

2.8%

2.6%

3.2%

3.1%

3.3%

R&D Expense Ratio

6.8%

6.5%

8.4%

8.6%

7.5%

6.8%

7.6%

7.6%

9.0%

9.5%

10.0%

10.1%

11.8%

12.8%

12.8%

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

Account Receivable Turnover Days

66

80

95

104

125

144

141

137

131

131

114

132

145

156

Inventory Turnover Days

97

89

79

71

62

65

68

71

100

122

119

141

140

135

Accout Payable Turnover Days

77

88

87

99

117

137

146

144

145

154

128

131

138

146

Cash Conversion Cycle

86

81

87

76

70

73

63

64

86

100

105

141

147

144

Note: Cash Conversion Cycle = Account Receivable Turnover Days + Inventory Turnover Days - Accout Payable Turnover Days

Unit: RMB million

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

Total Liabilities

907

1,503

1,918

2,867

6,411

11,019

16,852

20,967

25,520

29,885

34,222

38,470

46,263

56,684

44,516

Total Assets

6,549

8,317

10,589

14,072

21,291

30,316

41,339

51,571

63,484

75,358

88,702

103,865

119,233

138,848

132,016

Asset-Liability Ratio

13.8%

18.1%

18.1%

20.4%

30.1%

36.3%

40.8%

40.7%

40.2%

39.7%

38.6%

37.0%

38.8%

40.8%

33.7%

Note: Asset-Liability Ratio = Total Liabilities / Total Assets

Unit: RMB million

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

Current Assets

5,985

7,401

8,812

12,390

19,108

26,682

36,523

44,653

53,627

64,026

74,763

86,019

97,907

113,151

102,481

Current Liabilities

895

1,481

1,895

2,823

6,112

10,274

12,116

17,201

24,709

23,521

31,225

33,292

34,356

44,412

37,645

Working Capital

5,090

5,920

6,917

9,567

12,996

16,408

24,408

27,452

28,917

40,506

43,538

52,728

63,551

68,739

64,836

Current Ratio

668.5%

499.7%

465.0%

438.9%

312.6%

259.7%

301.5%

259.6%

217.0%

272.2%

239.4%

258.4%

285.0%

254.8%

272.2%

Note: 1. Working Capital = Current Assets - Current Liabilities

2. Current Ratio = Current Assets / Current Liabilities

Unit: RMB million

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

Net Cash Flows from Operating Activities

664

1,170

1,437

1,863

3,706

3,217

6,214

7,373

9,114

7,768

16,088

12,709

10,164

16,623

13,264

Net Profit Attributable to Owners of Parent Com

1,052

1,481

2,137

3,067

4,665

5,869

7,422

9,411

11,353

12,415

13,386

16,800

12,837

14,108

11,977

Cash Flow to Net Profit Ratio

63.1%

79.0%

67.2%

60.8%

79.4%

54.8%

83.7%

78.3%

80.3%

62.6%

120.2%

75.6%

79.2%

117.8%

110.7%

Note: Cash Flow to Net Profit Ratio = Net Cash Flows from Operating Activities / Net Profit Attributable to Owners of Parent Company

Unit: RMB million

2009

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

Cash Dividend Payout

250

300

400

603

1,004

1,628

2,848

3,692

4,614

5,609

6,542

7,475

8,490

6,555

8,398

6,435

Net Profit Attributable to Owners

706

1,052

1,481

2,137

3,067

4,665

5,869

7,422

9,411

11,353

12,415

13,386

16,800

12,837

14,108

11,977

Cash Dividend Payout Ratio

35.4%

28.5%

27.0%

28.2%

32.7%

34.9%

48.5%

49.7%

49.0%

49.4%

52.7%

55.8%

50.5%

51.1%

59.5%

53.7%

Note: Cash Dividend Payout Ratio = Cash Dividend Payout / Net Profit Attributable to Owners of Parent Company

Given that the company is still in the share repurchase period, it cannot yet determine the total number of shares on the record date for the 2024 annual rights distribution plan. The cash dividend amount of RMB 6.435 billion for 2024 is a preliminary estimate based on the total number of shares outstanding as of March 31, 2025, excluding shares held in the repurchase account. The specific dividend amount will be announced in the future rights distribution implementation

announcement.

Unit: RMB million

2010

2011

2012

2013

2014

2015

2016

2017

2018

2019

2020

2021

2022

2023

2024

Revenue

3,605

5,232

7,214

10,746

17,233

25,271

31,924

41,905

49,837

57,658

63,503

81,420

83,166

89,340

92,496

Gross Profit

1,862

2,597

3,549

5,117

7,655

10,135

13,274

18,438

22,354

26,518

29,546

36,091

35,170

39,703

40,542

Operating Profit

986

1,472

1,989

2,947

4,378

5,494

6,830

10,443

12,336

13,708

15,197

18,474

14,783

16,039

14,312

Number of Employees Excluding Production Sta

2,429

4,031

5,420

7,056

8,456

11,392

14,309

19,385

25,303

29,227

30,934

37,239

40,884

41,212

41,387

Revenue per Employee

1.48

1.30

1.33

1.52

2.04

2.22

2.23

2.16

1.97

1.97

2.05

2.19

2.03

2.17

2.23

Gross Profit per Employee

0.77

0.64

0.65

0.73

0.91

0.89

0.93

0.95

0.88

0.91

0.96

0.97

0.86

0.96

0.98

Operating Profit per Employee

0.41

0.37

0.37

0.42

0.52

0.48

0.48

0.54

0.49

0.47

0.49

0.50

0.36

0.39

0.35

Note: The denominator of the employee efficiency ratio is the number of employees excluding production staff