[中报]海康威视(002415):2022年半年度报告（英文版）
原标题:海康威视:2022年半年度报告（英文版） th August 13 2022 Section I Important Notes, Contents and Definitions The Board of Directors, Board of Supervisors, directors, supervisors and senior management of Hangzhou Hikvision Digital Technology Co., Ltd. (hereinafter referred to as the “Company”) hereby guarantee that the information presented in this report shall be together be wholly liable for the truthfulness, accuracy and completeness of its contents and free of any false records, misleading statements or material omissions, and will undertake individual and joint legal liabilities. Chen Zongnian, the Company's legal representative, Jin Yan, the person in charge of the accounting work, and Zhan Junhua, the person in charge of accounting department (accounting supervisor) hereby declare and warrant that the financial statements in this half year report are authentic, accurate and complete. All directors of the Company have attended the board meeting to review this report. The half year proposal of profit distribution or share distribution from capital reserve passed upon deliberation at the meeting of the Board of Directors (not applicable): The Company will not distribute cash dividend, distribute bonus shares, or distribute shares from capital reserve during the current reporting period. Note: This document is a translated version of the Chinese version 2022 Half Year Report (“2022年半年度报告”), and the published announcements in the Chinese version shall prevail. The complete published Chinese 2022 Half Year Report may be obtained at www.cninfo.com.cn. Please read the full half year report and pay particular attention to the following risk factors: (1) Global COVID-19 epidemic risk: The global threat of COVID-19 epidemic is difficult to subside, and epidemic prevention has a direct impact on the economic development. The Company will pay close attention to the changes in the epidemic and respond in a timely manner. If the epidemic causes the domestic and foreign economic or business environment to deteriorate, the adverse impact on the Company's business will increase accordingly. (2) Economic downside risk: The current domestic and foreign economic environment is complex and volatile. The domestic macroeconomic growth has entered a new stage of medium-low growth. If demand recovers slowly and investment growth is sluggish, it will bring adverse impacts on the Company's business development. (3) Geopolitical environment risk: The current global geopolitical uncertainty has greatly increased, and the economic and social impact caused by local wars and confrontations is huge. The Company's operations in the countries and regions where the conflict is located may be adversely affected. (4) Global business risks: The Company operates in more than 150 countries and regions around the world. The potential risks such as the trend of deglobalization, economic fluctuation and debt default around the world are difficult to eliminate, so the Company’s overseas business operations may be adversely affected. (5) Supply chain risks: The global supply system is suffering from a variety of adverse impacts, such as volatile commodity prices, restrictions on global production and logistic, and intensifying competition. The Company has been making efforts to enhance management for our supply chain and optimize inventory adjustment and control. However, if systemic risks arise in the global supply chain, the stability of the Company's supply chain may be adversely affected (6) Legal and compliance risk: The world's multilateral trading system is facing adverse impacts. The laws and regulations of various regions that need to be complied with for business activities are very complicated. China and overseas countries have stricter data supervision and business compliance requirements. If the Company's legal compliance capabilities cannot keep up with the situation, it will bring adverse impacts on the Company's operations. (7) Risk of exchange rate fluctuation: The Company carries out operations in various countries and regions with different currencies, mainly settled in non-RMB currency. Exchange rate fluctuations could have impact on foreign exchange exposures arising out of sales, procurement and financing, which could likely affect the profitability level of the Company. (8) Risk of technology upgrade: Technologies such as IoT perception, artificial intelligence (AI) and big data are developing rapidly. If the Company is unable to closely track and adapt to the changes in cutting- edge technologies, or fails to quickly realize business innovation, the risk of uncertainty in the Company's future development will increase. (9) Receivable risk caused by the decline in customers’ ability to pay: The enterprises’ financial liquidity is negatively impacted by the macroeconomic downturn. The Company has accumulated a certain amount of cash reserves due to the stable operation in history, and the financing cost is low. If the liquidity risk increases, it will adversely affect the Company’s account receivables. (10) Risk of internal management: The continual expansion of business scale, the continuous increase of new products and new businesses, and the continuous growth in total number of employees lead to a significant rise of internal management complexity, which brings challenges to the Company’s management and higher requirements on the Company management system. The Company’s sustainable development will face certain risks if the management level fails to proportionally address the Company’s business expansion. (11) Risk of cybersecurity: The Company has always attached great importance and taken active measures to enhance cybersecurity performance of our products and systems. However, in the context of internet applications, there is still a possibility of deliberate attempts, including computer viruses, malicious software, hacker and others to intentionally attack our systems or products, causing cybersecurity issues. (12) Risk of intellectual property (IP) rights: The Company continues to maintain a relatively large scale of R&D investment, and produces considerable technical milestones. At the same time, the Company implements well-organized intellectual property right (IPR) protection measures. However, the risk of intellectual property disputes and the risk of intellectual property rights violations still exist. The above notices might not be all-inclusive of all other potential risks. Please pay attention to potential investment risks. CONTENTS Section I Important Notes, Contents and Definitions ...................................................................................... 1 Section II Corporate Profile & Key Financial Data ......................................................................................... 7 Section III Management Discussion and Analysis ......................................................................................... 11 Section IV Corporate Governance .................................................................................................................. 29 Section V Environmental and Social Responsibility ...................................................................................... 32 Section VI Significant Events ........................................................................................................................... 33 Section VII Changes in Shares and Information about Shareholders ......................................................... 49 Section VIII Information of Preferred Shares ............................................................................................... 61 Section IX Bonds ............................................................................................................................................... 62 Section X Financial Report .............................................................................................................................. 63 Section XI Documents Available for Reference ........................................................................................... 195
1. Company’s contact information Whether there is any change in the Company’s registered address, office address, zip code, company website or company email address during the reporting period. □Applicable √ Inapplicable There is no change in the Company’s registered address, office address, zip code, company website or company email address during the reporting period. Please refer to 2021 Annual Report for details. 2. Information disclosure and place of the report Whether there is alteration in information disclosure and place of the report during the current reporting period. √ Applicable □ Inapplicable
Whether other relevant information has changed during the current reporting period □ Applicable √ Not applicable IV. Key accounting data and financial indicators Whether the Company performed a retrospective adjustment or restatement of previous accounting data □Yes √ No Unit: RMB
The total share capital of the Company as of the previous trading day of the report disclosure:
aforementioned note as a recurrent gain/loss item. □ Applicable √ Inapplicable In the reporting period, the Company did not classify an item as a non-recurring gain/loss according to the definition in the I. The principal business of the Company during the reporting period There was no significant change for the principal business of the Company during the current reporting period. Please refer to 2021 Annual Report for details. II. Core competitiveness analysis There was no significant change in the Company's core competitiveness during the current reporting period. For details, Please refer to 2021 Annual Report. III. Core business analysis Whether consistent with the Company’s core business disclosure during the current reporting period √Yes □ No In the first half year of 2022, the severe situation of epidemic prevention and control brought continuous challenges to the domestic economy. Meanwhile, the trend of de-globalization has intensified and conflicts broke out in some countries and regions. The changes in the political and economic situation between countries and/or regions have brought greater uncertainty to business operations. In the context of uncertain business environment, the Company has firmed its confidence and has always focused on the growth of its own capabilities. We endeavored to promote robust development by harnessing the comparative advantages in R&D innovation, industry understanding, marketing network, manufacturing, warehousing and logistics, etc. During the reporting period, the Company achieved revenue of RMB 37.26 billion, with year over year growth of 9.90%; the net profits attributable to shareholders of the Company was RMB 5.76 billion, a decrease of 11.14% over the same period of the previous year. (1) Increase inputs in R&D and focus on technological innovation During the reporting period, the Company continued to focus on technological innovation, enriched product lines, built system capabilities, and consolidated the foundation for long-term sustainable development. In the first half year of 2022, the Company invested RMB 4.68 billion in R&D, with year over year growth of 20.56%. The Company will continue to maintain investment in R&D, continue to consolidate the foundation of intelligent technology, continue to enrich the types of intelligent devices, and devote great attention to exploring the effect of intelligent applications, so as to promote the Company's steady development in the field of AIoT. (2) Adhere to stable operation and cope with external challenges During the reporting period, the domestic market was challenged by the epidemic and the overseas market encountered negative public opinion, which impacted the Company's stable operation. In the face of the epidemic, the Company was diligent and pragmatic, overcame difficulties, quickly followed up with market demand, and strived to ensure the steady development of its businesses. In the face of uncertainties brought about by changes in the external political and economic situation, the Company maintained smooth communication with all parties in order to eliminate misunderstandings, maintained the high inventory strategy, and ensured the steady progress of the businesses. (3) Continuously improve operational capabilities and optimize internal management During the reporting period, the Company continued to promote business process reform, promote the integration and mutual improvement of organizational systems, improve operational capabilities and operational efficiency, and give full play to the advantages of economies of scale. The Company continuously strengthens compliance construction, keeps pace with the times, promotes the optimization and improvement of the business system, and enhances organizational effectiveness. (4) Rapidly develop innovative businesses and open up new market patterns During the reporting period, the revenue of innovative businesses reached RMB 7.01 billion, with year over year growth of 25.62%, accounting for 18.81% of the total revenue. The innovative businesses have good momentum of development, constantly injecting new impetus into the Company's long-term sustainable development. EZVIZ’s initial public offering of shares and its application for listing on the Shanghai Stock Exchange STAR Market (SSE STAR Market) was reviewed and approved by the SSE STAR Market's Listing Committee, HikRobot's spin-off and listing plan was reviewed and approved by the Company’s Board of Directors, and the spin-off of innovative
□ Applicable √ Inapplicable There is no such case during the reporting period.
Revenue structure Unit: RMB 100mn
Main business refers to the business parts other than innovative businesses 2 Other innovative businesses include the products and services of the innovative business subsidiaries, such as HikFire, Rayin and HikImaging. Same below. 3 The revenue from domestic main business and overseas main business only include Hikvision's main business's products and
√ Applicable □ Inapplicable Unit: RMB
Company's major business data would be adjusted according to the end of the reporting period in the most recent period. □Applicable √ Inapplicable
Classified by product/business Unit: RMB
IV. Non-core business analysis □Applicable √ Inapplicable V. Analysis of assets and liabilities 1. Material changes of asset items
 |