Hikvision 2024 Q1 ReportStock Exchange Code：002415 Abbreviation of Securities：HikvisionNo：2024-012
Hangzhou Hikvision Digital Technology Co., Ltd.
2024 1
stQuarter Report
The Company and all members of the Board of Directors guarantee that the information disclosed istrue, accurate and complete without false records, misleading statements or material omissions.Important Content Notes:
1. The Board of Directors, Board of Supervisors, directors, supervisors and senior managementguarantee that the information presented in this report is true, accurate and complete without falserecords, misleading statements or material omissions, and will undertake individual and joint legalliabilities.
2. Chen Zongnian, the Company's legal representative, Jin Yan, the person in charge of theaccounting work, and Zhan Junhua, the person in charge of accounting institution (accountingsupervisor) hereby declare and warrant that the financial information in this report is true, accurateand complete.
3. Whether the 1
st
quarter report has been audited
□Yes√ No
I. Key Financial Data
1. Key Accounting Data and Financial Indicators
Whether the Company performed a retroactive adjustment or restatement of the previous accounting data
□Yes √ No
| 2024 Q1 | 2023 Q1 | YoY Change(%) between 2023 Q1 and 2024 Q1 | |
| Revenue (RMB) | 17,817,550,424.43 | 16,201,189,412.53 | 9.98% |
| Net profits attributable to shareholders of the Company (RMB) | 1,915,903,199.88 | 1,811,255,388.03 | 5.78% |
| Net profits attributable to shareholders of the Company excluding non-recurring gains and losses (RMB) | 1,760,276,683.16 | 1,554,094,332.67 | 13.27% |
| Net cash flows from operating activities (RMB) | -3,966,935,241.66 | -3,285,523,507.64 | -20.74% |
| Basic earnings per share (RMB/share) | 0.208 | 0.196 | 6.12% |
| Diluted earnings per share (RMB/share) | 0.208 | 0.196 | 6.12% |
| Weighted average Return on Equity (ROE) | 2.47% | 2.61% | -0.14% |
| On March 31, 2024 | On December 31, 2023 | Change(%) between December 31, 2023 and March 31, 2024 | |
| Total assets (RMB) | 132,259,649,297.62 | 138,848,007,548.55 | -4.75% |
| Owner’s equity attributable to shareholders of the Company (RMB) | 78,484,066,664.96 | 76,354,265,540.14 | 2.79% |
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) | 9,330,600,931 |
Fully diluted earnings per share calculated using the latest share capital:
| Fully diluted earnings per share (RMB/share) calculated with the latest share capital | 0.205 |
2. Items and Amounts of Non-recurring Gains and Losses
√ Applicable □ Inapplicable
Unit：RMB
| Item | January 1, 2024–March 31, 2024 |
| Gains or losses from the disposal of non-current assets (including the write-off for the impairment provision of assets) | -7,339,105.75 |
| 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) | 151,531,740.78 |
| 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. | 44,298,430.11 |
| Other non-operating income and expenditures except the items mentioned above | 11,887,291.72 |
| Less: Impact of income tax | 22,470,316.40 |
| Impact of the minority interests (after tax) | 22,281,523.74 |
| Total | 155,626,516.72 |
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 <Explanatory Announcement No. 1on 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 <Explanatory Announcement No.1 on Information Disclosure for Companies Offering Their Securities to the Public—Non-recurring Gains andLosses> as recurring gain/loss item.
3. Information and explanation about variations in key accounting data and financial indicators
√Applicable □Inapplicable
3.1 Explanation for variations in balance sheet items
| Item | Balance on March 31, 2024 (RMB) | Balance on December 31, 2023 (RMB) | Change (%) | Note of Changes |
| Held-for-trading financial assets | - | 37,380.00 | -85.03% | Due to exchange rate fluctuations |
| Held-for-trading financial liabilities | 5,705,696.80 | 38,079,755.04 | ||
| Other receivables | 940,598,188.79 | 571,905,648.93 | 64.47% | Increase in tax receivables |
| Notes payable | 1,631,631,344.50 | 1,163,687,279.58 | -29.20% | Increase in supplier settlement payments |
| Accounts payable | 12,760,934,417.50 | 19,163,485,888.09 | ||
| Payroll payable | 3,630,914,215.18 | 6,120,254,492.28 | -40.67% | 2023 year-end bonus were paid in this quarter |
| Long-term borrowings | 5,968,656,279.30 | 8,940,122,961.01 | 1.45% | No significant changes |
| Non-current liabilities due within one year | 8,999,923,030.70 | 5,814,660,214.96 | ||
| Other comprehensive income | 59,655,440.54 | 44,667,516.16 | 33.55% | Increase in the translation difference of foreign currency statements due to exchange rate fluctuations |
3.2 Explanation for variations in income statement items
| Items | 2024 Q1 (RMB) | 2023 Q1 (RMB) | YoY Change (%) | Note of changes |
| Investment income (losses are listed with a "-" symbol) | -90,237,693.78 | 53,024,459.67 | -270.18% | In the same period of last year, the income from the business combination not under the same control was realized step by step through multiple transactions, and there was no similar event in the current period |
| Asset impairment losses (losses are listed with a "-" symbol) | -69,525,214.28 | -141,629,819.18 | 50.91% | Decrease in provision for inventory depreciation |
| Minority Shareholders' | 306,169,982.25 | 136,968,421.67 | 123.53% | Increase in the profit of the holding |
| Gains and Losses | subdisidaries |
3.3 Explanation for variations in cash flow statement items
| Item | 2024 Q1 (RMB) | 2023 Q1 (RMB) | YoY Change (%) | Note of changes |
| Net cash flows from investing activities | -1,004,036,851.08 | -758,788,857.48 | -32.32% | Increase in the investment in the construction of industrial parks |
| Net cash flows from financing activities | -482,442,232.44 | 2,031,442,402.22 | -123.75% | Decrease in net borrowing inflows |
II. Shareholder Information
1. Total number of common shareholders and number of preferred shareholders with resumed voting rights and information about top 10 shareholders
Unit: Share
| Total number of common shareholders at the end of the reporting period | 356,222 | Total number of preferred shareholders (if any) whose voting rights have been recovered at the end of the reporting period (if any) | 0 | |||
| Particulars about Top 10 shareholders (excludes shares lent through refinancing) | ||||||
| Name of shareholder | Nature of shareholder | Share- holding percentage (%) | Total shares held at the period-end | The number of common shares held with trading restrictions | Pledged, marked or frozen | |
| Status | Amount | |||||
| China Electronics Technology HIK Group Co., Ltd. | Domestic state-owned corporation | 36.55% | 3,410,150,909 | - | Pledged | 50,000,000 |
| Gong Hongjia | Overseas individual | 10.32% | 962,504,814 | - | Pledged | 196,598,700 |
| Hangzhou Weixun Equity Investment Partnership (Limited Partnership) | Domestic non-state-owned corporation | 4.83% | 450,795,176 | - | Pledged | 17,700,000 |
| Shanghai Perseverance Asset Management Partnership (Limited Partnership) - Perseverance Adjacent Mountain 1 Yuanwang Fund | Other | 4.40% | 411,000,000 | - | - | - |
| CETC Investment Holdings Co., Ltd. | Domestic state-owned corporation | 2.63% | 245,161,568 | - | - | - |
| Hangzhou Pukang Equity Investment Partnership (Limited Partnership) | Domestic non-state-owned corporation | 1.96% | 182,510,174 | - | Pledged | 50,000,000 |
| The 52nd Research Institute at China Electronics Technology Group Corporation | Domestic state-owned corporation | 1.94% | 180,775,044 | - | - | - |
| Hu Yangzhong | Domestic individual | 1.67% | 155,636,477 | 116,727,358 | - | - |
| Hong Kong Securities Clearing Company Ltd.(HKSCC) | Overseas corporation | 0.78% | 73,196,717 | - | - | - |
| Central Huijin Investment Co., Ltd. | Domestic state-owned corporation | 0.69% | 64,700,691 | - | - | - |
| Particulars about shares held by the Top 10 common shareholders holding shares that are not subject to trading restriction(s) | |||
| Name of shareholder | Number of common shares without trading restrictions held at the period-end | Type of shares | |
| Type | Amount | ||
| China Electronics Technology HIK Group Co., Ltd. | 3,410,150,909 | RMB ordinary shares | 3,410,150,909 |
| Gong Hongjia | 962,504,814 | RMB ordinary shares | 962,504,814 |
| Hangzhou Weixun Equity Investment Partnership (Limited Partnership) | 450,795,176 | RMB ordinary shares | 450,795,176 |
| Shanghai Perseverance Asset Management Partnership (Limited Partnership) - Perseverance Adjacent Mountain 1 Yuanwang Fund | 411,000,000 | RMB ordinary shares | 411,000,000 |
| CETC Investment Holdings Co., Ltd. | 245,161,568 | RMB ordinary shares | 245,161,568 |
| Hangzhou Pukang Equity Investment Partnership (Limited Partnership) | 182,510,174 | RMB ordinary shares | 182,510,174 |
| The 52nd Research Institute at China Electronics Technology Group Co., Ltd. | 180,775,044 | RMB ordinary shares | 180,775,044 |
| Hong Kong Securities Clearing Company Ltd.(HKSCC) | 73,196,717 | RMB ordinary shares | 73,196,717 |
| Central Huijin Investment Co., Ltd. | 64,700,691 | RMB ordinary shares | 64,700,691 |
| Industrial and Commercial Bank of China Co., Ltd. - Huatai Pinebridge CSI 300 ETF Securities Investment Fund | 40,378,956 | RMB ordinary shares | 40,378,956 |
| Explanation on associated relationship and concerted actions among above shareholders | China Electronics Technology HIK Group Co., Ltd., CETC Investment Holdings Co., Ltd., and the 52nd Research Institute at China Electronics Technology Group Co., Ltd.are all subject to control of China Electronics Technology Group Corporation. Ms. Chen Chunmei, limited partner of Hangzhou Pukang Equity Investment Partnership (Limited Partnership), is the spouse of Mr. Gong Hongjia, overseas individual shareholder of the Company. Hu Yangzhong, domestic individual, is holding shares in both Hangzhou Weixun Equity Investment Partnership (Limited Partnership) and Hangzhou Pukang Equity Investment Partnership (Limited Partnership). Except for these, the 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. | ||
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
Unit: Share
| Particulars about 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 | ||||||||
| Name of shareholder (Full name) | Share holdings of ordinary account and credit account at the beginning of the period | The shares lent by the refinancing have not yet been returned at the beginning of the period | Share holdings of ordinary account and credit account at the end of the period | The shares lent by the refinancing have not yet been returned at the end of the period | ||||
| Total amount | Proportion of total share capital | Total amount | Proportion of total share capital | Total amount | Proportion of total share capital | Total amount | Proportion of total share capital | |
| Industrial and Commercial Bank of China Co., Ltd. - Huatai Pinebridge CSI 300 ETF Securities Investment Fund | 27,920,756 | 0.30% | 15,900 | 0.00% | 40,378,956 | 0.43% | 0 | 0.00% |
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
2. Total number of preferred shareholders and information about Top 10 preferred shareholders
□ Applicable √ Inapplicable
III. Significant Events
√Applicable □Inapplicable
1. The Company's controlling shareholder disclosed and implemented the plan to increase the Company'ssharesThe Company received a notice from China Electronics Technology HIK Group Co., Ltd. (hereinafter referred toas "CETHIK"), the Company's controlling shareholder, on October 16, 2023 that CETHIK intended to increase itsshareholdings of the Company's shares through the trading system of the Shenzhen Stock Exchange throughcentralized bidding, block trading or other trading methods permitted by laws and regulations within 6 months fromOctober 17, 2023. The total amount of the increased shareholdings would not be less than RMB200 million and notmore than RMB300 million, and the proposed price of increased shareholdings should not be higher than RMB40per share (inclusive). The plan of increase shareholding would be implemented at the opportunity with theconsideration of the fluctuation of Hikvision's stock price and the overall trend of the capital market. From January4, 2024 to January 9, 2024, CETHIK increased its holdings of 6,271,400 shares of the Company through the tradingsystem of the Shenzhen Stock Exchange through centralized bidding, accounting for 0.0672% of the Company'scurrent total share capital, and the amount of additional shares is 200,160,059.77 yuan (excluding transaction fees).The shareholding increase plan of CETHIK has been implemented. For details, please refer to the Announcementon the Plan for the Company's Controlling Shareholders to Increase Their Shareholdings in the Company(Announcement No.: 2023-033) and Announcement on the Completion of the Implementation of the Company'sControlling Shareholders' Plan to Increase Their Shareholdings in the Company (Announcement No.: 2024-001)published by the Company on cninfo website (www.cninfo.com.cn) on October 17, 2023 and January 10, 2024
2. The person acting in concert of the controlling shareholder of the Company disclosed and implemented theplan to increase the Company's sharesAfter the close of trading on January 16, 2024, the Company received a notice from CETC Investment HoldingsCo., Ltd. (hereinafter referred to as "CETC Investment"), a person acting in concert of the CETHIK, the controllingshareholder of the Company, that on January 16, 2024, CETC Investment increased its holdings of 1,319,906 sharesof the Company through centralized bidding through the trading system of the Shenzhen Stock Exchange, with theamount of RMB40,363,848.49. CETC Investment intends to continue to increase its holdings of the Company'sshares within 6 months from January 16, 2024, with an increase of not less than RMB300 million and no more thanRMB600 million (including the amount of increase on January 16, 2024). There is no fixed price range for this
increase plan, and CETC Investment will implement the shareholding increase plan at the opportunity with thereasonable judgment of the Company's stock value. From January 16, 2024 to February 6, 2024, CETC Investmenthas increased its holdings of 12,853,665 shares of the Company through centralized bidding through the ShenzhenStock Exchange trading system, accounting for 0.1378% of the Company's current total share capital, and theamount of additional shares is 400,027,006.81 yuan (excluding transaction FEEs). For details, please refer to theAnnouncement on the Increase of the Company's Shares and the Subsequent Shareholding Increase Plan by theperson acting in concert of the controlling shareholder of the Company ( Announcement No.: 2024-002) and theAnnouncement on the Completion of the Company's Shareholding Increase Plan by the person acting in concert ofthe controlling shareholder of the Company (Announcement No.: 2024-005) published by the Company on cninfowebsite (www.cninfo.com.cn) on January 17, 2024 and February 7, 2024.
IV. Quarterly Financial Reports
1. Financial Statements
1.1 Consolidated Balance Sheet
Unit: RMB
| Item | March 31, 2024 | January 1, 2024 |
| Current Assets: | ||
| Cash and bank balances | 44,109,663,357.77 | 49,629,469,654.46 |
| Held-for-trading financial assets | 37,380.00 | |
| Notes receivable | 2,553,178,503.57 | 2,606,071,375.74 |
| Accounts receivable | 33,396,304,550.58 | 35,815,173,511.44 |
| Receivables for financing | 1,631,097,806.80 | 1,594,219,832.62 |
| Prepayments | 510,728,764.79 | 508,151,405.92 |
| Other receivables | 940,598,188.79 | 571,905,648.93 |
| Inventories | 19,730,687,004.42 | 19,211,434,385.32 |
| Contract assets | 1,175,454,914.97 | 1,173,312,415.20 |
| Non-current assets due within one year | 1,092,079,219.85 | 1,079,721,006.23 |
| Other current assets | 1,112,287,983.01 | 961,593,616.75 |
| Total Current Assets | 106,252,080,294.55 | 113,151,090,232.61 |
| Non-current Assets: | ||
| Long-term receivables | 500,325,871.38 | 538,698,618.76 |
| Long-term equity investment | 1,087,719,673.77 | 1,151,104,887.85 |
| Other non-current financial assets | 510,580,003.55 | 472,184,937.66 |
| Fixed assets | 11,443,619,072.64 | 11,508,302,317.75 |
| Construction in progress | 4,666,248,201.13 | 4,307,651,074.46 |
| Right-of-use assets | 501,582,712.87 | 521,061,396.66 |
| Intangible assets | 1,807,450,044.07 | 1,810,476,551.45 |
| Goodwill | 311,275,117.56 | 311,353,640.88 |
| Long-term deferred expenses | 165,697,272.82 | 177,361,533.93 |
| Deferred tax assets | 1,987,850,827.53 | 1,978,373,012.15 |
| Other non-current assets | 3,025,220,205.75 | 2,920,349,344.39 |
| Total Non-current Assets | 26,007,569,003.07 | 25,696,917,315.94 |
| Total Assets | 132,259,649,297.62 | 138,848,007,548.55 |
| Current Liabilities: | ||
| Short-term borrowings | 1,572,084,418.78 | 2,118,952,026.06 |
| Held-for-trading financial liabilities | 5,705,696.80 | 38,079,755.04 |
| Notes payable | 1,631,631,344.50 | 1,163,687,279.58 |
| Accounts payable | 12,760,934,417.50 | 19,163,485,888.09 |
| Item | March 31, 2024 | January 1, 2024 |
| Contract Liabilities | 3,136,124,458.04 | 2,977,990,775.40 |
| Payroll payable | 3,630,914,215.18 | 6,120,254,492.28 |
| Taxes payable | 1,500,385,870.30 | 1,622,401,214.96 |
| Other payables | 3,732,729,937.93 | 3,911,612,841.06 |
| Including: Dividends payable | 205,077,532.72 | 253,957,413.29 |
| Non-current liabilities due within one year | 8,999,923,030.70 | 5,814,660,214.96 |
| Other current liabilities | 1,395,072,241.37 | 1,481,222,044.19 |
| Total Current Liabilities | 38,365,505,631.10 | 44,412,346,531.62 |
| Non-current Liabilities: | ||
| Long-term borrowings | 5,968,656,279.30 | 8,940,122,961.01 |
| Lease liabilities | 342,396,286.81 | 344,005,866.13 |
| Long-term payables | 4,452,473.19 | 5,776,599.85 |
| Provisions | 211,369,064.57 | 213,084,038.31 |
| Deferred income | 911,177,514.92 | 966,259,592.34 |
| Deferred tax liabilities | 127,665,446.02 | 129,866,978.18 |
| Other non-current liabilities | 1,673,981,834.74 | 1,672,933,103.20 |
| Total Non-current Liabilities | 9,239,698,899.55 | 12,272,049,139.02 |
| Total Liabilities | 47,605,204,530.65 | 56,684,395,670.64 |
| Owners’ Equity | ||
| Share capital | 9,330,600,931.00 | 9,330,600,931.00 |
| Capital reserves | 8,063,813,764.08 | 7,864,903,763.52 |
| Less: Treasury shares | 2,737,987,226.55 | 2,737,987,226.55 |
| Other comprehensive income | 59,655,440.54 | 44,667,516.16 |
| Surplus reserves | 4,715,460,312.00 | 4,715,460,312.00 |
| Retained earnings | 59,052,523,443.89 | 57,136,620,244.01 |
| Total Owners' Equity Attributable to Owner of the Company | 78,484,066,664.96 | 76,354,265,540.14 |
| Minority equity | 6,170,378,102.01 | 5,809,346,337.77 |
| Total Owners' Equity | 84,654,444,766.97 | 82,163,611,877.91 |
| Total Liabilities and Owners' Equity | 132,259,649,297.62 | 138,848,007,548.55 |
Legal Representative: Chen Zongnian Person in Charge of the Accounting work: Jin YanPerson in Charge of Accounting Institution: Zhan Junhua
1.2 Consolidated Income Statement
Unit: RMB
| Item | 2024 Q1 | 2023 Q1 |
| I. Total Revenue | 17,817,550,424.43 | 16,201,189,412.53 |
| Including: Revenue | 17,817,550,424.43 | 16,201,189,412.53 |
| II. Total Operating Costs | 15,618,779,641.18 | 14,248,163,903.28 |
| Including: Cost of sales and services | 9,664,818,848.68 | 8,883,871,635.31 |
| Business taxes and surcharges | 178,185,758.74 | 162,501,664.68 |
| Selling expenses | 2,461,582,859.03 | 2,185,218,373.11 |
| Administrative expenses | 680,114,466.85 | 602,999,255.69 |
| Research and Development (R&D) expenses | 2,671,475,230.52 | 2,464,108,463.39 |
| Financial expenses | (37,397,522.64) | (50,535,488.90) |
| Including：Interest expenses | 136,117,640.40 | 90,784,879.24 |
| Interest income | 300,008,788.25 | 230,994,108.15 |
| Add: Other Income | 559,337,897.73 | 431,143,072.40 |
| Investment income (loss"-") | (90,237,693.78) | 53,024,459.67 |
| Including: Investment gains in associated enterprise and joint-venture enterprise | (63,804,379.76) | 8,539,228.50 |
| Gains (loss "-") from changes in fair values | 70,731,744.13 | 76,962,398.56 |
| Credit impairment losses ("-") | (95,251,432.28) | (110,068,759.04) |
| Impairment losses ("-") of assets | (69,525,214.28) | (141,629,819.18) |
| Asset disposal income (loss"-") | (7,338,187.59) | (2,263,571.88) |
| III. Operating Profit (loss"-") | 2,566,487,897.18 | 2,260,193,289.78 |
| Add: Non-operating income | 17,311,883.58 | 32,861,901.41 |
| Less: Non-operating expenses | 6,301,591.43 | 3,222,199.80 |
| IV. Total Profit (loss"-") | 2,577,498,189.33 | 2,289,832,991.39 |
| Less: Income tax expenses | 355,425,007.20 | 341,609,181.69 |
| V. Net Profit (loss"-") | 2,222,073,182.13 | 1,948,223,809.70 |
| 5.1 Classification by operation continuity | ||
| (a) Net profit (loss) on continuous operation | 2,222,073,182.13 | 1,948,223,809.70 |
| (b) Net profit (loss) on terminated operation | ||
| 5.2 Classification by attribution of ownership | ||
| (a) Net profit attributable to owners of parent company | 1,915,903,199.88 | 1,811,255,388.03 |
| (b) Profit or loss attributable to minority shareholders | 306,169,982.25 | 136,968,421.67 |
| VI. Other Comprehensive Income, Net of Income Tax | 33,548,490.10 | 54,430,037.77 |
| Item | 2024 Q1 | 2023 Q1 |
| Other comprehensive income attributable to owners of the Company, net of tax | 14,987,924.38 | 21,506,594.75 |
| (I) Items that will not be reclassified subsequently to profit or loss | ||
| (II) Other comprehensive income to be reclassified to profit or loss in subsequent periods | 14,987,924.38 | 21,506,594.75 |
| 1. Exchange differences arising on conversion of financial statements denominated in foreign currencies | 14,987,924.38 | 21,506,594.75 |
| Other comprehensive income attributable to minority interests, net of tax | 18,560,565.72 | 32,923,443.02 |
| VII. Total Comprehensive Income | 2,255,621,672.23 | 2,002,653,847.47 |
| Total comprehensive income attributable to owners of the parent company | 1,930,891,124.26 | 1,832,761,982.78 |
| Total comprehensive income attributable to minority shareholders | 324,730,547.97 | 169,891,864.69 |
| VIII. Earnings per Share | ||
| (I) Basic earnings per share | 0.208 | 0.196 |
| (II) Diluted earnings per share | 0.208 | 0.196 |
Legal Representative: Chen Zongnian Person in Charge of the Accounting work: Jin YanPerson in Charge of Accounting Institution: Zhan Junhua
1.3 Consolidated Cash Flow Statement
Unit: RMB
| Item | 2024 Q1 | 2023 Q1 |
| I. Cash Flows from Operating Activities: | ||
| Cash received from sale of goods or rendering of services | 22,155,532,069.57 | 18,869,426,242.58 |
| Receipts of tax refunds | 796,835,677.83 | 845,422,057.10 |
| Other cash receipts relating to operating activities | 524,398,997.07 | 549,990,821.05 |
| Sub-total of cash inflows from operating activities | 23,476,766,744.47 | 20,264,839,120.73 |
| Cash payments for goods purchased and services received | 17,304,388,368.80 | 14,493,826,723.21 |
| Cash paid to and on behalf of employees | 6,809,449,666.27 | 6,122,808,771.33 |
| Payments of various types of taxes | 1,506,954,661.21 | 1,425,619,771.90 |
| Other cash payments relating to operating activities | 1,822,909,289.85 | 1,508,107,361.93 |
| Sub-total of cash outflows from operating activities | 27,443,701,986.13 | 23,550,362,628.37 |
| Net Cash Flows from Operating Activities | (3,966,935,241.66) | (3,285,523,507.64) |
| II. Cash Flows from Investing Activities: | ||
| Cash receipts from recovery of investments | 1,398,514,960.79 | 1,758,917,961.77 |
| Net cash receipts from disposals of fixed assets, intangible assets and other long-term assets | 10,402,987.98 | 2,023,878.10 |
| Other cash receipts relating to investing activities | 19,566,585.71 | 12,429,300.57 |
| Sub-total of cash inflows from investing activities | 1,428,484,534.48 | 1,773,371,140.44 |
| Item | 2024 Q1 | 2023 Q1 |
| Cash payments to acquire or construct fixed assets, intangible assets and other long-term assets | 1,007,573,110.75 | 657,301,005.09 |
| Cash paid to acquire investments | 1,424,948,274.81 | 1,830,866,341.05 |
| Net Cash paid for obtaining subsidiaries and other business units | 43,992,651.78 | |
| Sub-total of cash outflows from investing activities | 2,432,521,385.56 | 2,532,159,997.92 |
| Net Cash Flows from Investing Activities | (1,004,036,851.08) | (758,788,857.48) |
| III. Cash Flows from financing Activities: | ||
| Cash receipts from capital contributions | 1,020,000.00 | |
| Including: cash receipts from capital contributions from minority owners of subsidiaries | 1,020,000.00 | |
| Cash receipts from borrowings | 1,401,340,085.25 | 3,677,681,322.07 |
| Sub-total of cash inflows from financing activities | 1,401,340,085.25 | 3,678,701,322.07 |
| Cash repayments of borrowings | 1,659,853,889.39 | 1,509,838,609.44 |
| Cash payments for distribution of dividends or profits or settlement of interest expenses | 173,748,772.63 | 77,014,997.47 |
| Other cash payments relating to financing activities | 50,179,655.67 | 60,405,312.94 |
| Sub-total of cash outflows from financing activities | 1,883,782,317.69 | 1,647,258,919.85 |
| Net Cash Flows from Financing Activities | (482,442,232.44) | 2,031,442,402.22 |
| IV. Effect of Foreign Exchange rate changes on Cash and Cash Equivalents | (14,005,477.86) | (27,970,602.35) |
| V. Net increase in Cash and Cash Equivalents | (5,467,419,803.04) | (2,040,840,565.25) |
| Add: Opening balance of Cash and Cash Equivalents | 49,419,278,347.70 | 39,815,390,514.57 |
| VI. Closing Balance of Cash and Cash Equivalents | 43,951,858,544.66 | 37,774,549,949.32 |
Legal Representative: Chen Zongnian Person in Charge of the Accounting work: Jin YanPerson in Charge of Accounting Institution: Zhan Junhua
2. Information about the implementation of new accounting standards for the first time toadjust the relevant items in the financial statements at the beginning of the period since2024
□ Applicable √ Inapplicable
3. Audit Report
Whether audit has been performed on this 2024 1
st
Quarter Report
□ Yes √ No
The Company’s 2024 1
stQuarter report has not been audited
HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD.Board of DirectorsApril 20, 2024
Note:
This document is a translated version of the Chinese version 2024 1
stQuarter Report (“2024年第一季度报告”),and the published announcements in the Chinese version shall prevail. The complete published Chinese 2024 1
st
Quarter Report may be obtained at www.cninfo.com.cn.