Hangzhou Hikvision Digital Technology Co., Ltd.
2021Annual Report
April 16th 2022
To Shareholders
The year 2021 marks the 20th anniversary of Hikvision’s establishment and the 12th anniversary
of its listing. Through 20 years of efforts, the Company has accumulated a wealth of successful
experience in a number of technological segments, and is now positioning its field of business as the
Artificial Intelligence of Things (AIoT). We believe that the company will continue to grow rapidly
in the next 10 years with the development ofAIoT.
Over the past few years, the company has been bearing pressures from reverse globalization
and has been making great efforts to offset some of the negative effects, in order to enable its
products to serve more customers in the global market. At present, the company has established 66
sales branches and service offices, as well as 3 manufacturing plants and 11 logistics centers in the
overseas market, operating business in 155 countries and regions where we have sales and service
partners. Dedicated to build ourselves into a global company, Hikvision will continue progressing
persistently despite all the difficulties we may encounter. We believe that global economic
integration is the best option for all people in the world.
Technological innovation is the driving force behind Hikvision’s development, and only through
continuoustechnological innovationcanwerealizesustainabledevelopment.Thanks totheconsistent
pursuit of technological innovation, Hikvision has achieved impressive results in the past 20 years.
The company went public and raised RMB 3.4 billion in May 2010. In the past 12 years since, it has
invested a total of RMB 35.4 billion in research and development, accumulated RMB 89.1 billion in
net profits attributable to shareholders, and (will have) paid an accumulated dividend of RMB 43.2
billion to shareholders. From 2017 to 2021, Hikvision’s R&D investment accounted for 7.62%,
8.99%, 9.51%, 10.04% and 10.13% out of the total revenue respectively, with the proportion
increasing year by year. In the next 10 years, the company will continue to increase its R&D
investment. We believe that technological innovation is the only way to better create value for our
customers and reward our shareholders.
Since 2015, Hikvision has been encouraging internal innovation and intrapreneurship
through establishing a co-investment scheme, establishing eight innovative businesses over the
years. In 2021, there were five innovative businesses with revenue exceeding RMB one billion,
realizing a positive net profit.Among them, EZVIZ Network has submitted the IPO application, and
the suggestive announcement on the spin-off of HikRobot for an independent listing has also been
disclosed with relevant preparatory work currently underway. We believe that only when we share
the profits with our employees can we unite the whole team working towards the same direction,
and only by motivating the vitality of employees’innovation and entrepreneurship can the company
continue to thrive.
Hikvision has built up a strong customer base and technology accumulation in the field ofAIoT.
As an effort to better create value for customers and enhance customer satisfaction, we are constantly
striving to improve the company’s operational capabilities and efficiency, while persevering in
technological innovation. With the improvement of our operational capabilities and efficiency as a
long-term goal, we will keep up with the changing times and continue to build, optimize and refine
our systems. We believe that there are no gains without pains.
In the future, we will pace ourselves to encounter the challenges ahead and accept them as part
of the evolution of the company. Being open, transparent, and honest as always, we will make best
efforts to resolve uncertainties brought by these challenges. We believe that adversity will make us
stronger.
Finally, we’d like to extend our sincere thanks to all shareholders for your trust and support to
the Company's management team!And express our special thanks to the public shareholders for their
trust and support for the management team over the past 12 years!
See far, go further!
Board of Directors of Hangzhou Hikvision Digital Technology Co., Ltd.
April, 2022
Section I Important Notes, Contents and Definitions
The Board of Directors, Board of Supervisors, directors, supervisors and senior management
guarantee that the information 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.
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 (a
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