Hikvision 2025 Q1 ReportStock Exchange Code：002415 Abbreviation of Securities：HikvisionNo：2025-012
Hangzhou Hikvision Digital Technology Co., Ltd.
2025 1
stQuarter ReportThe 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. Hu Yangzhong, 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
Reasons for retrospective adjustment or restatement
√ Business combination under common control
| 2025 Q1 | 2024 Q1 | YoY Change(%) between 2024 Q1 and 2025 Q1 | ||
| Before the adjustment | After the adjustment | After the adjustment | ||
| Revenue (RMB) | 18,531,863,690.67 | 17,817,550,424.43 | 17,817,550,424.43 | 4.01% |
| Net profits attributable to shareholders of the Company (RMB) | 2,038,683,389.01 | 1,915,903,199.88 | 1,915,795,733.79 | 6.41% |
| Net profits attributable to shareholders of the Company excluding non-recurring gains and losses (RMB) | 1,926,435,015.10 | 1,760,276,683.16 | 1,760,276,683.16 | 9.44% |
| Net cash flows from operating activities (RMB) | -1,737,373,005.70 | -3,966,935,241.66 | -3,965,909,130.83 | 56.19% |
| Basic earnings per share (RMB/share) | 0.221 | 0.208 | 0.207 | 6.76% |
| Diluted earnings per share (RMB/share) | 0.221 | 0.208 | 0.207 | 6.76% |
| Weighted average Return on Equity (ROE) | 2.51% | 2.47% | 2.47% | 0.04% |
| On March 31, 2025 | On December 31, 2024 | Change(%) between December 31, 2024 and March 31, 2025 | ||
| Before the adjustment | After the adjustment | After the adjustment | ||
| Total assets (RMB) | 125,735,528,054.54 | 132,016,200,156.14 | 132,016,200,156.14 | -4.76% |
| Owner’s equity attributable to shareholders of the Company (RMB) | 81,856,617,915.58 | 80,668,661,062.88 | 80,668,661,062.88 | 1.47% |
Note: The Company carried out a business combination under common control in the previous fiscal year. In this period, the comparable data for the same period inthe previous year has been retrospectively adjusted in accordance with the Accounting Standards for Business Enterprises.
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) | 9,233,198,326 |
Fully diluted earnings per share calculated using the latest share capital:
| Fully diluted earnings per share (RMB/share) calculated with the latest share capital | 0.221 |
2. Items and Amounts of Non-recurring Gains and Losses
√ Applicable □ Inapplicable
Unit：RMB
| Item | January 1, 2025–March 31, 2025 |
| Gains or losses from the disposal of non-current assets (including the write-off for the impairment provision of assets) | 993,633.24 |
| 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) | 152,280,513.36 |
| 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. | -27,942,231.11 |
| Investment income generated from the disposal of long-term equity investments. | 224,079.88 |
| Item | January 1, 2025–March 31, 2025 |
| Other non-operating income and expenditures except the items mentioned above | 13,183,355.32 |
| Less: Impact of income tax | 13,729,586.77 |
| Impact of the minority interests (after tax) | 12,761,390.01 |
| Total | 112,248,373.91 |
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. 1 on Information Disclosure for Companies OfferingTheir 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 CompaniesOffering Their Securities to the Public—Non-recurring Gains and Losses> as recurring gain/loss item.
3. Information and explanation about variations in key accounting data and financial indicators
√Applicable □Inapplicable
| Item | Amount from the beginning of the year to the end of the period. | Amount for the same period of the previous year (Restated) | YoY change (%) | Note of changes |
| Net cash flows from operating activities | -1,737,373,005.70 | -3,965,909,130.83 | 56.19% | Increase in cash received from sales |
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 | 340,254 | Total number of preferred shareholders (if any) whose voting rights have been recovered at the end of the reporting period (if any) | 0 | |||
| Shareholding details of the top 10 shareholders (excluding shares lent out through securities lending arrangements) | ||||||
| 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 | 37.01% | 3,416,994,909 | - | Pledged | 50,000,000 |
| Gong Hongjia | Overseas individual | 10.42% | 962,504,814 | - | Pledged | 249,668,200 |
| Hangzhou Weixun Equity Investment Partnership (Limited Partnership) | Domestic non-state-owned corporation | 4.88% | 450,795,176 | - | Pledged | 14,000,000 |
| Shanghai Perseverance Asset Management Partnership (Limited Partnership) - Perseverance Adjacent Mountain 1 Yuanwang Fund | Other | 3.79% | 350,000,000 | - | - | - |
| CETC Investment Holdings Co., Ltd. | Domestic state-owned corporation | 2.69% | 248,366,168 | - | - | - |
| Hangzhou Pukang Equity Investment Partnership (Limited Partnership) | Domestic non-state-owned corporation | 1.98% | 182,510,174 | - | Pledged | 81,370,000 |
| The 52nd Research Institute at China Electronics Technology Group Corporation | Domestic state-owned corporation | 1.96% | 180,775,044 | - | - | - |
| Hu Yangzhong | Domestic individual | 1.69% | 155,996,477 | 116,997,358 | - | - |
| Central Huijin Investment Co., Ltd | Domestic state-owned corporation | 0.70% | 64,700,691 | - | - | - |
| Industrial and Commercial Bank of China Co., Ltd. - Huatai Pinebridge CSI 300 ETF Securities Investment Fund | Other | 0.65% | 60,460,156 | - | - | - |
| Shareholding details of the top 10 unrestricted shareholders (excluding shares lent out through securities lending arrangements and management locked-in shares) | |||
| 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. | 3,416,994,909 | RMB ordinary shares | 3,416,994,909 |
| 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 | 350,000,000 | RMB ordinary shares | 350,000,000 |
| CETC Investment Holdings Co., Ltd. | 248,366,168 | RMB ordinary shares | 248,366,168 |
| 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 Corporation. | 180,775,044 | RMB ordinary shares | 180,775,044 |
| 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 | 60,460,156 | RMB ordinary shares | 60,460,156 |
| Hong Kong Securities Clearing Company Ltd.(HKSCC) | 57,440,470 | RMB ordinary shares | 57,440,470 |
| Explanation on associated relationship and concerted actions among above shareholders | 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 acting-in-concert parties. Mr. Gong Hongjia and Hangzhou Pukang Equity 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 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 refinancingbusiness
□ 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
2. Total number of preferred shareholders and information about Top 10 preferred shareholders
□ Applicable √ Inapplicable
III. Significant Events
√Applicable □Inapplicable
1. The Shareholding Increase Plan by the Company’s Controlling Shareholder and its Concerted Party HasBeen Completed
On October 18, 2024, the Company received a notice from its controlling shareholder, China ElectronicsTechnology HIK Group Co., Ltd. (hereinafter referred to as "CETHIK"), and its concerted party, CETC InvestmentHoldings Co., Ltd. (hereinafter referred to as "CETC Investment"), stating that CETHIK and CETC investment planto increase their shareholdings in the Company through the trading system of the Shenzhen Stock Exchange viacentralized bidding starting from October 19, 2024, for a period of six months. CETHIK intends to increase itsshareholding with an amount ranging from RMB200 million to RMB 300 million, while CETC investment plans toincrease its shareholding with an amount ranging from RMB100 million to RMB200 million. The funds forCETHIK’s shareholding increase consist of its own funds and special-purpose loans for shareholding increase,whereas the funds for CETC Investment’s shareholding increase are entirely from its own funds.As of the market close on April 8, 2025, CETHIK has, through the Shenzhen Stock Exchange's trading systemvia centralized bidding, cumulatively increased its shareholdings in the Company by 6,845,600 shares, representing
0.0741% of the Company’s current total issued share capital. The total amount of shares purchased wasRMB200,182,737.28 (excluding transaction fees). CETC Investment has, through the same method, cumulativelyincreased its shareholdings by 3,204,700 shares, representing 0.0347% of the Company’s current total issued sharecapital, with a total amount of RMB100,016,373.80 (excluding transaction fees).
The Company timely fulfilled the disclosure obligations in accordance with relevant regulations after theaforementioned increase plan reached halfway through its implementation period and upon its completion. Forfurther details, please refer to the Announcement on the Shareholding Increase Plan of the Company’s ControllingShareholder and its Concerted Party, Announcement on the Controlling Shareholder’s Commitment Letter forSpecial-Purpose Shareholding Increase Loans, Progress Announcement on the Shareholding Increase Plan of theCompany’s Controlling Shareholder and its Concerted Party Upon Reaching the Midpoint, and Announcement onthe Completion of the Shareholding Increase Plan of the Company’s Controlling Shareholder and its ConcertedParty published on cninfo website (www.cninfo.com.cn) on October 19, 2024, December 14, 2024, January 18,2025, and April 9, 2025.
2. Company's Implementation Progress on the Share Repurchase Program
Based on the firm confidence in the Company's future development and its high recognition of the Company'slong-term value, the Company held the 4
th
Meeting of the 6
thBoard of Directors on December 9, 2024, and the 2024
ndExtraordinary General Meeting on December 25, 2024. Both meetings approved the Proposal on the ShareRepurchase Program, agreeing for the Company to repurchase a portion of its issued RMB ordinary shares (A-shares) through the trading system of the Shenzhen Stock Exchange via centralized bidding. The total repurchaseamount will not exceed RMB2.5 billion (inclusive) and will not be less than RMB2 billion (inclusive). Therepurchase price will not exceed RMB40 per share (inclusive). The funds for the repurchase will come from theCompany's own capital and a dedicated share repurchase loan. The repurchase period will be up to 12 months fromthe date of approval by the Shareholders' Meeting. The repurchased shares will be used for cancellation to reduceregistered capital. As of the market close on March 31, 2025, the Company has implemented the share repurchasethrough the dedicated securities account for share repurchases via centralized bidding, cumulatively repurchasing40,504,219 shares, which represents 0.4387% of the Company’s current total issued share capital. The highesttransaction price was RMB32.70 per share, and the lowest transaction price was RMB27.53 per share. The totaltransaction amount was RMB1,235,479,288.81 (excluding transaction fees). The Company will continue to strictlycomply with laws and regulations, as well as the predetermined repurchase plan, to implement the share repurchaseand fulfill its corresponding disclosure obligations.
IV. Quarterly Financial Reports
1. Financial Statements
1.1 Consolidated Balance Sheet
Unit: RMB
| Item | March 31, 2025 | January 1, 2025 |
| Current Assets: | ||
| Cash and bank balances | 32,824,665,743.13 | 36,271,488,337.03 |
| Derivative financial assets | 841,737.09 | 26,775,923.93 |
| Notes receivable | 2,625,275,987.10 | 2,722,596,142.46 |
| Accounts receivable | 35,064,107,761.13 | 37,910,128,735.42 |
| Receivables for financing | 1,815,960,310.69 | 2,291,648,244.05 |
| Prepayments | 632,009,515.64 | 664,602,593.01 |
| Other receivables | 659,408,286.34 | 531,344,606.50 |
| Inventories | 19,255,534,362.13 | 19,110,711,958.11 |
| Contract assets | 965,373,065.38 | 985,822,785.69 |
| Non-current assets due within one year | 878,442,739.02 | 894,327,647.82 |
| Other current assets | 1,173,704,327.27 | 1,071,066,653.10 |
| Total Current Assets | 95,895,323,834.92 | 102,480,513,627.12 |
| Non-current Assets: | ||
| Long-term receivables | 331,321,300.84 | 380,453,188.09 |
| Long-term equity investment | 1,480,292,066.21 | 1,527,223,390.79 |
| Other non-current financial assets | 489,355,120.27 | 472,000,082.76 |
| Fixed assets | 14,967,532,483.01 | 15,063,752,296.49 |
| Construction in progress | 5,065,524,559.76 | 4,699,473,381.21 |
| Right-of-use assets | 498,900,007.32 | 530,138,023.79 |
| Intangible assets | 1,886,914,278.93 | 1,828,287,135.99 |
| Goodwill | 312,373,272.24 | 312,165,129.29 |
| Long-term deferred expenses | 155,842,910.58 | 162,841,758.91 |
| Deferred tax assets | 2,347,945,824.61 | 2,206,191,157.06 |
| Other non-current assets | 2,304,202,395.85 | 2,353,160,984.64 |
| Total Non-current Assets | 29,840,204,219.62 | 29,535,686,529.02 |
| Total Assets | 125,735,528,054.54 | 132,016,200,156.14 |
| Current Liabilities: | ||
| Short-term borrowings | 1,452,173,553.74 | 1,031,895,812.62 |
| Derivative financial liabilities | 38,477,084.81 | 1,874,341.64 |
| Notes payable | 1,094,909,993.59 | 1,197,128,746.56 |
| Accounts payable | 13,942,838,268.81 | 20,185,303,107.69 |
| Item | March 31, 2025 | January 1, 2025 |
| Contract liabilities | 3,266,516,788.75 | 3,353,943,054.24 |
| Payroll payable | 3,847,196,122.23 | 5,666,415,834.10 |
| Taxes payable | 1,765,532,311.44 | 1,535,936,096.02 |
| Other payables | 3,731,737,578.75 | 3,528,359,044.48 |
| Including: Dividends payable | 26,087,590.85 | 186,793.11 |
| Non-current liabilities due within one year | 1,024,150,004.79 | 767,030,688.91 |
| Other current liabilities | 326,089,242.07 | 377,117,275.65 |
| Total Current Liabilities | 30,489,620,948.98 | 37,645,004,001.91 |
| Non-current Liabilities: | ||
| Long-term borrowings | 4,587,103,095.99 | 5,119,185,000.00 |
| Lease liabilities | 363,314,792.95 | 375,432,749.68 |
| Long-term payables | 9,781,322.51 | 9,780,220.80 |
| Provisions | 302,943,173.27 | 305,250,049.71 |
| Deferred income | 900,952,695.73 | 874,512,073.53 |
| Deferred tax liabilities | 110,564,729.87 | 112,711,363.52 |
| Other non-current liabilities | 93,980,569.15 | 74,029,948.84 |
| Total Non-current Liabilities | 6,368,640,379.47 | 6,870,901,406.08 |
| Total Liabilities | 36,858,261,328.45 | 44,515,905,407.99 |
| Owners’ Equity | ||
| Share capital | 9,233,198,326.00 | 9,233,198,326.00 |
| Capital reserves | 6,212,785,119.03 | 6,181,644,265.06 |
| Less: Treasury shares | 1,235,585,048.40 | 310,044,296.12 |
| Other comprehensive income | (67,837,124.21) | (111,510,486.21) |
| Surplus reserves | 4,715,460,312.00 | 4,715,460,312.00 |
| Retained earnings | 62,998,596,331.16 | 60,959,912,942.15 |
| Total Owners' Equity Attributable to Owner of the Company | 81,856,617,915.58 | 80,668,661,062.88 |
| Minority equity | 7,020,648,810.51 | 6,831,633,685.27 |
| Total Owners' Equity | 88,877,266,726.09 | 87,500,294,748.15 |
| Total Liabilities and Owners' Equity | 125,735,528,054.54 | 132,016,200,156.14 |
Legal Representative: Hu Yangzhong Person in Charge of the Accounting work: Jin YanPerson in Charge of Accounting Institution: Zhan Junhua
1.2 Consolidated Income Statement
Unit: RMB
| Item | 2025 Q1 | 2024 Q1 (Restated) |
| I. Total Revenue | 18,531,863,690.67 | 17,817,550,424.43 |
| Including: Revenue | 18,531,863,690.67 | 17,817,550,424.43 |
| II. Total Operating Costs | 16,039,816,987.94 | 15,619,003,528.87 |
| Including: Cost of sales and services | 10,206,702,190.22 | 9,699,040,821.35 |
| Business taxes and surcharges | 180,626,489.02 | 178,185,970.16 |
| Selling expenses | 2,601,129,809.18 | 2,427,360,886.36 |
| Administrative expenses | 652,194,624.94 | 680,342,867.69 |
| Research and Development (R&D) expenses | 2,672,128,721.98 | 2,671,475,230.52 |
| Financial expenses | (272,964,847.40) | (37,402,247.21) |
| Including：Interest expenses | 53,770,927.85 | 136,117,640.40 |
| Interest income | 147,780,931.33 | 300,013,541.92 |
| Add: Other Income | 528,905,294.73 | 559,337,897.73 |
| Investment income (loss"-") | (4,451,590.77) | (90,237,693.78) |
| Including: Investment gains in associated enterprise and joint-venture enterprise | (24,415,332.04) | (63,804,379.76) |
| Gains (loss "-") from changes in fair values | (47,681,892.50) | 70,731,744.13 |
| Credit impairment losses ("-") | (177,943,981.02) | (95,251,432.28) |
| Impairment losses ("-") of assets | (149,789,122.81) | (69,525,214.28) |
| Asset disposal income (loss"-") | 1,020,430.22 | (7,338,187.59) |
| III. Operating Profit (loss"-") | 2,642,105,840.58 | 2,566,264,009.49 |
| Add: Non-operating income | 15,388,224.61 | 17,311,883.58 |
| Less: Non-operating expenses | 3,945,966.14 | 6,301,591.43 |
| IV. Total Profit (loss"-") | 2,653,548,099.05 | 2,577,274,301.64 |
| Less: Income tax expenses | 422,637,400.18 | 355,425,007.20 |
| V. Net Profit (loss"-") | 2,230,910,698.87 | 2,221,849,294.44 |
| 5.1 Classification by operation continuity | ||
| (a) Net profit (loss) on continuous operation | 2,230,910,698.87 | 2,221,849,294.44 |
| (b) Net profit (loss) on terminated operation | ||
| 5.2 Classification by attribution of ownership | ||
| (a) Net profit attributable to owners of parent company | 2,038,683,389.01 | 1,915,795,733.79 |
| (b) Profit or loss attributable to minority shareholders | 192,227,309.86 | 306,053,560.65 |
| VI. Other Comprehensive Income, Net of Income Tax | 50,008,936.80 | 33,548,490.10 |
| Item | 2025 Q1 | 2024 Q1 (Restated) |
| Other comprehensive income attributable to owners of the Company, net of tax | 43,673,362.00 | 14,987,924.38 |
| (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 | 43,673,362.00 | 14,987,924.38 |
| 1. Exchange differences arising on conversion of financial statements denominated in foreign currencies | 43,673,362.00 | 14,987,924.38 |
| Other comprehensive income attributable to minority interests, net of tax | 6,335,574.80 | 18,560,565.72 |
| VII. Total Comprehensive Income | 2,280,919,635.67 | 2,255,397,784.54 |
| Total comprehensive income attributable to owners of the parent company | 2,082,356,751.01 | 1,930,783,658.17 |
| Total comprehensive income attributable to minority shareholders | 198,562,884.66 | 324,614,126.37 |
| VIII. Earnings per Share | ||
| (I) Basic earnings per share | 0.221 | 0.207 |
| (II) Diluted earnings per share | 0.221 | 0.207 |
Legal Representative: Hu Yangzhong 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 | 2025 Q1 | 2024 Q1 (Restated) |
| I. Cash Flows from Operating Activities: | ||
| Cash received from sale of goods or rendering of services | 24,149,423,217.69 | 22,156,932,069.57 |
| Receipts of tax refunds | 861,173,833.37 | 796,835,677.83 |
| Other cash receipts relating to operating activities | 442,289,248.01 | 524,403,750.74 |
| Sub-total of cash inflows from operating activities | 25,452,886,299.07 | 23,478,171,498.14 |
| Cash payments for goods purchased and services received | 17,851,083,497.95 | 17,304,388,368.80 |
| Cash paid to and on behalf of employees | 6,461,282,265.23 | 6,809,828,068.59 |
| Payments of various types of taxes | 1,240,080,114.48 | 1,506,954,872.63 |
| Other cash payments relating to operating activities | 1,637,813,427.11 | 1,822,909,318.95 |
| Sub-total of cash outflows from operating activities | 27,190,259,304.77 | 27,444,080,628.97 |
| Net Cash Flows from Operating Activities | (1,737,373,005.70) | (3,965,909,130.83) |
| II. Cash Flows from Investing Activities: | ||
| Cash receipts from recovery of investments | 993,325,090.14 | 1,398,514,960.79 |
| Cash received from investment income | 19,245,907.70 | |
| Net cash receipts from disposals of fixed assets, intangible assets and other long-term assets | 7,530,424.50 | 10,402,987.98 |
| Cash received from other activities related to investing | 52,011,400.17 | 19,566,585.71 |
| Item | 2025 Q1 | 2024 Q1 (Restated) |
| Sub-total of cash inflows from investing activities | 1,072,112,822.51 | 1,428,484,534.48 |
| Cash payments to acquire or construct fixed assets, intangible assets and other long-term assets | 937,932,093.66 | 1,007,573,110.75 |
| Cash paid to acquire investments | 976,110,494.00 | 1,424,948,274.81 |
| Sub-total of cash outflows from investing activities | 1,914,042,587.66 | 2,432,521,385.56 |
| Net Cash Flows from Investing Activities | (841,929,765.15) | (1,004,036,851.08) |
| III. Cash Flows from Financing Activities: | ||
| Cash receipts from borrowings | 1,528,386,931.72 | 1,401,340,085.25 |
| Sub-total of cash inflows from financing activities | 1,528,386,931.72 | 1,401,340,085.25 |
| Cash repayments of borrowings | 1,368,376,992.04 | 1,659,853,889.39 |
| Cash payments for distribution of dividends or profits or settlement of interest expenses | 51,396,500.14 | 173,748,772.63 |
| Other cash payments relating to financing activities | 973,190,611.66 | 50,179,655.67 |
| Sub-total of cash outflows from financing activities | 2,392,964,103.84 | 1,883,782,317.69 |
| Net Cash Flows from Financing Activities | (864,577,172.12) | (482,442,232.44) |
| IV. Effect of Foreign Exchange Rate Changes on Cash and Cash Equivalents | 23,889,834.25 | (14,005,477.86) |
| V. Net Increase in Cash and Cash Equivalents | (3,419,990,108.72) | (5,466,393,692.21) |
| Add: Opening balance of Cash and Cash Equivalents | 36,053,042,380.29 | 49,427,967,355.78 |
| VI. Closing Balance of Cash and Cash Equivalents | 32,633,052,271.57 | 43,961,573,663.57 |
Legal Representative: Hu Yangzhong 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 since2025
□ Applicable √ Inapplicable
3. Audit Report
Whether audit has been performed on this 2025 1
st
Quarter Report
□ Yes √ No
The Company’s 2025 1
stQuarter report has not been audited
HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD.Board of DirectorsApril 19, 2025
Note:
This document is a translated version of the Chinese version 2025 1
stQuarter Report (“2025年第一季度报告”),and the published announcements in the Chinese version shall prevail. The complete published Chinese 2025 1
st
Quarter Report may be obtained at www.cninfo.com.cn.