Hikvision 2026 Q1 Report
Stock Exchange Code：002415 Abbreviation of Securities：Hikvision
No：2026-012
Hangzhou Hikvision Digital Technology Co., Ltd.
The Company and all members of the Board of Directors guarantee that the information disclosed is
true, accurate and complete without false records, misleading statements or material omissions.
Important Content Notes:
presented in this report is true, accurate and complete without false records, misleading
statements or material omissions, and will undertake individual and joint legal liabilities.
accounting work, and Zhan Junhua, the person in charge of accounting institution (accounting
supervisor) hereby declare and warrant that the financial information in this report is true,
accurate and complete.
□Yes√ No
Hikvision 2026 Q1 Report
I. Key Financial Data
Whether the Company performed a retroactive adjustment or restatement of the previous accounting data
□Yes √ No
YoY Change (%) between
Revenue (RMB) 20,715,444,490.55 18,531,863,690.67 11.78%
Net profits attributable to shareholders of the
Company (RMB)
Net profits attributable to shareholders of the
Company excluding non-recurring gains and 2,647,647,238.10 1,926,435,015.10 37.44%
losses (RMB)
Net cash flows from operating activities (RMB) -2,220,444,411.11 -1,737,373,005.70 -27.80%
Basic earnings per share (RMB/share) 0.303 0.221 37.10%
Diluted earnings per share (RMB/share) 0.303 0.221 37.10%
Weighted average Return on Equity (ROE) 3.28% 2.51% 0.77%
Change (%) between
On March 31, 2026 On December 31, 2025 December 31, 2025 and
March 31, 2026
Total assets (RMB) 135,311,587,226.93 138,049,655,334.62 -1.98%
Owner’s equity attributable to shareholders of
the Company (RMB)
The total share capital of the Company as of the previous trading day of the financial report disclosure:
The total share capital of the Company as of the previous trading day of the financial report disclosure (share) 9,164,871,550
Fully diluted earnings per share calculated using the latest share capital:
Fully diluted earnings per share (RMB/share) calculated with the latest share capital 0.303
√ Applicable □ Inapplicable
Unit：RMB
Hikvision 2026 Q1 Report
Item January 1, 2026–March 31, 2026
Gains or losses from the disposal of non-current assets (including the write-off for the
-1,360,869.86
impairment provision of assets)
Government subsidies included in the current gain and loss (except for government
subsidies that are closely related to the Company's regular business operations, comply
with national policies, are enjoyed in accordance with determined standards, and have a
continuous impact on the Company's profit and loss)
Gains and losses attributed to change in fair value for the holding of financial assets and
financial liabilities by non-financial enterprises, and gains and losses arising from the
disposal of financial assets and financial liabilities, excluding the effective hedging
business related to the regular business operation of the Company.
Gains or losses on debt restructuring 18,324,400.00
Other non-operating income and expenditures except the items mentioned above 17,297,321.27
Less: Impact of income tax 24,893,297.23
Impact of the minority interests (after tax) 24,538,525.19
Total 133,523,935.15
Details of other profit and loss items that meet the definition of non-recurring profit and loss:
□ Applicable √ Inapplicable
The Company does not have other specific conditions of profit and loss items that meet the definition of
non-recurring profit and loss.
Explanations on classifying any non-recurring gain/loss item mentioned in the
on Information Disclosure for Companies Offering Their Securities to the Public—Non-recurring Gains and
Losses> as recurring gain/loss item.
□ Applicable √ Inapplicable
The Company does not classify any non-recurring gain/loss item mentioned in the
No. 1 on Information Disclosure for Companies Offering Their Securities to the Public—Non-recurring Gains and
Losses> as recurring gain/loss item.
√Applicable □Inapplicable
YoY change
Item 2026 Q1 2025 Q1 Note of changes
(%)
Net profits attributable to Mainly due to year-over-year revenue
shareholders of the Company 2,781,171,173.25 2,038,683,389.01 36.42% growth and an increase in gross margin
(RMB) compared to the same period last year.
Net profits attributable to
shareholders of the Company
Hikvision 2026 Q1 Report
YoY change
Item 2026 Q1 2025 Q1 Note of changes
(%)
excluding non-recurring gains and
losses (RMB)
Basic earnings per share Mainly due to the increase in net profit
(RMB/share) attributable to the shareholders of the
Diluted earnings per share Company compared to the same period
(RMB/share) last year.
II. The Use of Raised Funds
□ Applicable √ Inapplicable
The Company did not use any raised funds during the reporting period.
III. Shareholder Information
rights and information about top 10 shareholders
Unit: Share
Total number of preferred shareholders (if
Total number of common shareholders at the end of
the reporting period
at the end of the reporting period (if any)
Shareholding details of the top 10 shareholders (excluding shares lent out through securities lending arrangements)
The Pledged, marked
number
or frozen
of
Share-
Total shares common
Nature of holding
Name of shareholder held at the shares
shareholder percentage
period-end held with
(%) Status Amount
trading
restriction
s
Domestic 3,416,996,5 Pledge 50,000,00
China Electronics Technology HIK Group Co., Ltd. state-owned 37.28% -
corporation
Overseas Pledge 270,368,2
Gong Hongjia 10.50% 962,504,814 -
individual d 00
Domestic Pledge
Hangzhou Weixun Equity Investment Partnership
non-state-owned 4.92% 450,795,176 - 6,000,000
(Limited Partnership) d
corporation
Domestic
CETC Investment Holdings Co., Ltd. state-owned 2.71% 248,366,268 - - -
corporation
Shanghai Perseverance Asset Management Partnership
(Limited Partnership) - Perseverance Adjacent Other 2.18% 200,000,000 - - -
Mountain 1 Yuanwang Fund
Hikvision 2026 Q1 Report
Domestic Pledge 54,760,00
Hangzhou Pukang Equity Investment Partnership
non-state-owned 1.99% 182,510,174 -
(Limited Partnership) d 0
corporation
Domestic
The 52nd Research Institute at China Electronics
state-owned 1.97% 180,775,044 - - -
Technology Group Corporation
corporation
China Life Insurance Co., Ltd. - Traditional - Ordinary
Other 1.85% 169,373,176 - - -
Insurance Product - 005L - CT001 Shanghai
Domestic 116,997,3
Hu Yangzhong 1.70% 155,996,477 - -
individual 58
Domestic
Central Huijin Investment Co., Ltd state-owned 0.71% 64,700,691 - - -
corporation
Shareholding details of the top 10 unrestricted shareholders (excluding shares lent out through securities lending arrangements and
management locked-in shares)
Number of common Type of shares
shares without trading
Name of shareholder
restrictions held at the Type Amount
period-end
China Electronics Technology HIK Group Co., Ltd. 3,416,996,509 RMB ordinary shares 3,416,996,509
Gong Hongjia 962,504,814 RMB ordinary shares 962,504,814
Hangzhou Weixun Equity Investment Partnership
(Limited Partnership)
CETC Investment Holdings Co., Ltd. 248,366,268 RMB ordinary shares 248,366,268
Shanghai Perseverance Asset Management Partnership
(Limited Partnership) - Perseverance Adjacent 200,000,000 RMB ordinary shares 200,000,000
Mountain 1 Yuanwang Fund
Hangzhou Pukang Equity Investment Partnership
(Limited Partnership)
The 52nd Research Institute at China Electronics
Technology Group Corporation.
China Life Insurance Co., Ltd. - Traditional - Ordinary
Insurance Product - 005L - CT001 Shanghai
Central Huijin Investment Co., Ltd. 64,700,691 RMB ordinary shares 64,700,691
Shanghai Chongyang Strategic Investment Co., Ltd. -
Chongyang Strategic Intelligence Fund
Among the above shareholders, China Electronics Technology HIK Group
Corporation, CETC Investment Holdings Co., Ltd., and the 52nd Research
Institute at China Electronics Technology Group Co., Ltd. are
Explanation on associated relationship and concerted
acting-in-concert parties. Mr. Gong Hongjia and Hangzhou Pukang Equity
actions among above shareholders
Investment Partnership (Limited Partnership) are acting-in-concert parties.
Mr. Hu Yangzhong and Hangzhou Weixun Equity Investment Partnership
(Limited Partnership) are acting-in-concert parties. Except for these, the
Hikvision 2026 Q1 Report
Company does not know whether the other shareholders are related parties or
whether they are acting-in-concert parties in accordance with the
Administrative Measures for Acquisitions of Listed Companies.
The shareholder Shanghai Chongyang Strategic Investment Co., Ltd. -
Explanation of the top 10 shareholders' participation in
Chongyang Strategic Intelligence Fund holds 11,828,896 shares of the
margin trading and securities lending business
Company through a credit account.
Shareholders holding more than 5% of the shares, the top 10 shareholders, and the top 10 shareholders of unrestricted tradable
shares participate in the lending of shares in the refinancing business
□ Applicable √ Inapplicable
The top 10 shareholders and the top 10 shareholders of unrestricted tradable shares have changed compared with the previous
period due to the refinancing, lending/repayment
□ Applicable √ Inapplicable
□ Applicable √ Inapplicable
IV. Significant Events
□Applicable √Inapplicable
Hikvision 2026 Q1 Report
V. Quarterly Financial Reports
Unit: RMB
Item March 31, 2026 January 1, 2026
Current Assets:
Cash and bank balances 41,806,159,375.54 46,508,328,658.44
Derivative financial assets 34,992,938.50 4,792,243.40
Notes receivable 2,814,194,324.18 3,051,356,562.64
Accounts receivable 27,395,097,012.71 29,812,378,945.77
Receivables for financing 2,720,569,137.39 2,430,030,662.65
Prepayments 1,001,215,438.20 856,749,328.34
Other receivables 663,795,084.19 442,502,788.34
Inventories 24,382,355,766.50 20,472,193,858.80
Contract assets 927,951,273.88 974,450,159.71
Non-current assets due within one year 510,059,454.61 603,989,194.29
Other current assets 1,481,292,632.59 1,251,688,100.54
Total Current Assets 103,737,682,438.29 106,408,460,502.92
Non-current Assets:
Long-term receivables 190,294,347.98 225,857,779.77
Long-term equity investment 1,832,190,284.26 1,669,074,600.75
Other non-current financial assets 627,623,870.52 589,955,315.74
Fixed assets 19,950,093,380.99 20,176,914,451.95
Construction in progress 2,033,273,243.65 1,914,110,895.67
Right-of-use assets 415,001,959.03 442,495,841.87
Intangible assets 1,813,036,128.60 1,830,074,205.02
Goodwill 309,565,980.13 311,187,727.01
Long-term deferred expenses 139,152,073.31 148,029,527.26
Deferred tax assets 2,406,707,282.69 2,435,622,521.84
Other non-current assets 1,856,966,237.48 1,897,871,964.82
Total Non-current Assets 31,573,904,788.64 31,641,194,831.70
Total Assets 135,311,587,226.93 138,049,655,334.62
Current Liabilities:
Short-term borrowings 2,119,406,538.57 2,685,866,236.94
Derivative financial liabilities 2,901,547.24 11,299,401.25
Notes payable 884,727,858.98 783,778,534.95
Accounts payable 17,067,243,492.68 19,843,949,575.87
Hikvision 2026 Q1 Report
Item March 31, 2026 January 1, 2026
Contract liabilities 4,670,888,035.30 4,200,490,873.07
Payroll payable 4,692,318,333.63 6,937,517,142.35
Taxes payable 1,878,710,498.79 1,794,091,503.07
Other payables 3,373,112,704.39 3,384,020,094.93
Including: Dividends payable 28,976,872.36 27,964,450.23
Non-current liabilities due within one year 3,071,428,946.89 3,939,271,129.61
Other current liabilities 359,058,201.11 415,430,882.40
Total Current Liabilities 38,119,796,157.58 43,995,715,374.44
Non-current Liabilities:
Long-term borrowings 1,205,600,073.96 1,210,564,814.39
Lease liabilities 256,119,058.26 299,390,966.16
Long-term payables 9,749,569.60 9,749,569.60
Provisions 102,294,310.11 118,435,375.21
Deferred income 890,448,592.26 863,263,662.53
Deferred tax liabilities 112,251,972.79 114,583,208.90
Other non-current liabilities 245,232,718.93 221,089,008.80
Total Non-current Liabilities 2,821,696,295.91 2,837,076,605.59
Total Liabilities 40,941,492,453.49 46,832,791,980.03
Owners’ Equity
Share capital 9,164,871,550.00 9,164,871,550.00
Capital reserves 4,375,067,360.52 4,385,374,479.22
Other comprehensive income (30,668,088.50) 23,384,816.83
Surplus reserves 4,715,460,312.00 4,715,460,312.00
Retained earnings 67,840,265,900.82 65,059,094,727.57
Total Owners' Equity Attributable to Owner of the
Company
Minority equity 8,305,097,738.60 7,868,677,468.97
Total Owners' Equity 94,370,094,773.44 91,216,863,354.59
Total Liabilities and Owners' Equity 135,311,587,226.93 138,049,655,334.62
Legal Representative: Hu Yangzhong Person in Charge of the Accounting work: Jin Yan
Person in Charge of Accounting Institution: Zhan Junhua
Hikvision 2026 Q1 Report
Unit: RMB
Item 2026 Q1 2025 Q1
I. Total Revenue 20,715,444,490.55 18,531,863,690.67
Including: Revenue 20,715,444,490.55 18,531,863,690.67
II. Total Operating Costs 17,261,853,608.20 16,039,816,987.94
Including: Cost of sales and services 10,547,170,974.23 10,206,702,190.22
Business taxes and surcharges 192,752,743.99 180,626,489.02
Selling expenses 2,662,060,109.32 2,601,129,809.18
Administrative expenses 692,328,185.15 652,194,624.94
Research and Development (R&D) expenses 2,859,323,903.65 2,672,128,721.98
Financial expenses 308,217,691.86 (272,964,847.40)
Including：Interest expenses 41,228,657.10 53,770,927.85
Interest income 83,083,636.98 147,780,931.33
Add: Other Income 562,416,030.14 528,905,294.73
Investment income (loss"-") 184,497,216.23 (4,451,590.77)
Including: Investment gains in associated
enterprise and joint-venture enterprise
Gains (loss "-") from changes in fair values 46,219,491.63 (47,681,892.50)
Credit impairment losses ("-") (226,083,881.94) (177,943,981.02)
Impairment losses ("-") of assets (158,018,493.86) (149,789,122.81)
Asset disposal income (loss"-") (1,317,026.20) 1,020,430.22
III. Operating Profit (loss"-") 3,861,304,218.35 2,642,105,840.58
Add: Non-operating income 25,613,821.42 15,388,224.61
Less: Non-operating expenses 9,675,973.61 3,945,966.14
IV. Total Profit (loss"-") 3,877,242,066.16 2,653,548,099.05
Less: Income tax expenses 615,697,800.42 422,637,400.18
V. Net Profit (loss"-") 3,261,544,265.74 2,230,910,698.87
(a) Net profit (loss) on continuous operation 3,261,544,265.74 2,230,910,698.87
(b) Net profit (loss) on terminated operation
(a) Net profit attributable to owners of parent 2,781,171,173.25 2,038,683,389.01
company
(b) Profit or loss attributable to minority 480,373,092.49 192,227,309.86
shareholders
VI. Other Comprehensive Income, Net of Income Tax (79,990,004.38) 50,008,936.80
Hikvision 2026 Q1 Report
Item 2026 Q1 2025 Q1
Other comprehensive income attributable to owners of the
(54,052,905.33) 43,673,362.00
Company, net of tax
(I) Items that will not be reclassified subsequently to profit or
loss
(II) Other comprehensive income to be reclassified to profit
(54,052,905.33) 43,673,362.00
or loss in subsequent periods
(54,052,905.33) 43,673,362.00
financial statements denominated in foreign
currencies
Other comprehensive income attributable to minority
(25,937,099.05) 6,335,574.80
interests, net of tax
VII. Total Comprehensive Income 3,181,554,261.36 2,280,919,635.67
Total comprehensive income attributable to owners of the
parent company
Total comprehensive income attributable to minority
shareholders
VIII. Earnings per Share
(I) Basic earnings per share 0.303 0.221
(II) Diluted earnings per share 0.303 0.221
Legal Representative: Hu Yangzhong Person in Charge of the Accounting work: Jin Yan
Person in Charge of Accounting Institution: Zhan Junhua
Unit: RMB
Item 2026 Q1 2025 Q1
I. Cash Flows from Operating Activities:
Cash received from sale of goods or rendering of services 25,440,592,698.67 24,149,423,217.69
Receipts of tax refunds 876,220,423.64 861,173,833.37
Other cash receipts relating to operating activities 358,300,746.76 442,289,248.01
Sub-total of cash inflows from operating activities 26,675,113,869.07 25,452,886,299.07
Cash payments for goods purchased and services received 18,530,396,228.36 17,851,083,497.95
Cash paid to and on behalf of employees 7,168,362,160.29 6,461,282,265.23
Payments of various types of taxes 1,644,821,191.84 1,240,080,114.48
Other cash payments relating to operating activities 1,551,978,699.69 1,637,813,427.11
Sub-total of cash outflows from operating activities 28,895,558,280.18 27,190,259,304.77
Net Cash Flows from Operating Activities (2,220,444,411.11) (1,737,373,005.70)
II. Cash Flows from Investing Activities:
Cash receipts from recovery of investments 6,511,173,206.45 993,325,090.14
Cash received from investment income 4,738,821.41 19,245,907.70
Net cash receipts from disposals of fixed assets, intangible
assets and other long-term assets
Cash received from other activities related to investing - 52,011,400.17
Hikvision 2026 Q1 Report
Item 2026 Q1 2025 Q1
Sub-total of cash inflows from investing activities 6,519,391,986.74 1,072,112,822.51
Cash payments to acquire or construct fixed assets,
intangible assets and other long-term assets
Cash paid to acquire investments 6,545,618,193.36 976,110,494.00
Sub-total of cash outflows from investing activities 7,303,453,033.56 1,914,042,587.66
Net Cash Flows from Investing Activities (784,061,046.82) (841,929,765.15)
III. Cash Flows from Financing Activities:
Cash receipts from borrowings 300,283,543.63 1,528,386,931.72
Sub-total of cash inflows from financing activities 300,283,543.63 1,528,386,931.72
Cash repayments of borrowings 1,765,216,934.05 1,368,376,992.04
Cash payments for distribution of dividends or profits or
settlement of interest expenses
Other cash payments relating to financing activities 66,547,975.49 973,190,611.66
Sub-total of cash outflows from financing activities 1,868,595,098.70 2,392,964,103.84
Net Cash Flows from Financing Activities (1,568,311,555.07) (864,577,172.12)
IV. Effect of Foreign Exchange Rate Changes on Cash and
(104,499,119.68) 23,889,834.25
Cash Equivalents
V. Net Increase (Decrease) in Cash and Cash Equivalents (4,677,316,132.68) (3,419,990,108.72)
Add: Opening balance of Cash and Cash Equivalents 46,204,338,694.43 36,053,042,380.29
VI. Closing Balance of Cash and Cash Equivalents 41,527,022,561.75 32,633,052,271.57
Legal Representative: Hu Yangzhong Person in Charge of the Accounting work: Jin Yan
Person in Charge of Accounting Institution: Zhan Junhua
Hikvision 2026 Q1 Report
adjust the relevant items in the financial statements at the beginning of the period since
□ Applicable √ Inapplicable
Whether audit has been performed on this 2026 1st quarter financial accounting report
□ Yes √ No
The Company’s 2026 1st quarter financial accounting report has not been audited
HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD.
Board of Directors
April 18, 2026
Note:
This document is a translated version of the Chinese version 2026 1st Quarter Report (“2026 年第一季度报告”),
and the published announcements in the Chinese version shall prevail. The complete published Chinese 2026 1st
Quarter Report may be obtained at www.cninfo.com.cn.
