Hikvision 2025 Q3 Report

Stock Exchange Code：002415 Abbreviation of Securities：Hikvision

No：2025-045

Hangzhou Hikvision Digital Technology Co. Ltd.

2025 3rd Quarter Report

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:

1. The Board of Directors directors 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.

2. Hu Yangzhong the Company's legal representative Jin Yan the person in charge of

the 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 authentic accurate and complete.

3. Whether the 3rd quarter report has been audited

□Yes √ NoHikvision 2025 Q3 Report

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

YoY Change between 2025 Q3 YoY Change between 2025

2025 Q3 2025 Q1~Q3

and 2024 Q3 Q1~Q3 and 2024 Q1~Q3

Revenue (RMB) 23939742368.57 0.66% 65757782457.01 1.18%

Net profit attributable to shareholders of the

3661774929.8020.31%9319124728.4814.94%

Company (RMB)

Net profit attributable to shareholders of the

Company excluding non-recurring gains and 3481971466.50 19.73% 8970971794.87 10.06%

losses (RMB)

Net cash flows from operating activities (RMB) — — 13697028509.05 426.06%

Basic earnings per share (RMB/share) 0.399 17.70% 1.014 15.49%

Diluted earnings per share (RMB/share) 0.399 17.70% 1.014 15.49%

Weighted average ROE 4.56% 0.52% 11.43% 0.91%

Change(%) between December 31 2024 and

On September 30 2025 On December 31 2024

September 30 2025

Total assets (RMB) 129863372985.51 132016200156.14 -1.63%

Net assets attributable to shareholders of the

78394069874.5980668661062.88-2.82%

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) 9164871550

Fully diluted earnings per share calculated using the latest share capital:

Fully diluted earnings per share (RMB/share) calculated with the latest share capital 1.017Hikvision 2025 Q3 Report

2. Items and Amounts of Non-recurring Gains and Losses

√ Applicable □ Inapplicable

Unit：RMB

Item Amount occurred in the current January 1 2025–

reporting period (2025 Q3) September 30 2025

Profit or loss from disposal of non-current assets (including the

12151391.4519500523.61

write-off for the impairment provision of assets)

Government subsidies included in the current profit and loss

(excluding the government subsidy closely related to regular

course of business of the Company and government subsidy based 266815472.20 534454157.42

on standard quota or quantitative continuous application according

to the state industrial policy)

Apart from the effective hedging activities related to the

Company's normal business operations the fair value changes in

financial assets and financial liabilities held by non-financial -18081481.87 -102728179.45

enterprises as well as the gains or losses from the disposal of these

financial assets and liabilities.Investment income generated from the disposal of long-term equity

9318754.759542834.63

investments

Profit or loss on debt restructuring -8314087.00 -8314087.00

Other non-operating income and expenditures except the items

17132143.4646371444.19

mentioned above

Less: Impact of income tax 42080340.93 59949789.62

Impact of the minority interests (after tax) 57138388.76 90723970.17

Total 179803463.30 348152933.61

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

1 on Information Disclosure for Companies Offering Their Securities to the Public—Non-recurring Gains and

Losses> as recurring gain/loss item.Hikvision 2025 Q3 Report

3. Information and Explanation about Variations in Key Accounting Data and Financial Indicators

√Applicable □Inapplicable

2025 Q1 ~ 2025 Q3 2024 Q1 ~ 2024 Q3

Item YoY Change Note of changes

(RMB) (RMB)

Net cash flows from

13697028509.05 2603725074.80 426.06% Increase in sales collections

operating activitiesHikvision 2025 Q3 Report

II. Shareholder Information

1. Total Number of Common Shareholders and Preferred Shareholders with Resumed Voting Rights and

Information about Top 10 Shareholders

Unit: Share

Total number of preferred shareholders (if any)

Total number of common shareholders at the

387222 whose voting rights have been recovered at the end 0

end of the reporting period

of the reporting period (if any)

Particulars about top 10 shareholders (Excludes shares lent through refinancing)

The number Pledged marked or

Share-

Total shares of common frozen

Nature of holding

Name of shareholder held at the shares held

shareholder percentage

period-end with trading

(%) Status Amount

restrictions

Domestic State-

China Electronics Technology HIK Group Co.owned 37.28% 3416996509 - Pledged 50000000

Ltd.corporation

Overseas

Gong Hongjia 10.50% 962504814 - Pledged 264908200

individual

Domestic

Hangzhou Weixun Equity Investment non-state-

4.92% 450795176 - Pledged 6000000

Partnership (Limited Partnership) owned

corporation

Shanghai Perseverance Asset Management

Partnership (Limited Partnership) -

Other 3.06% 280000000 - - -

Perseverance Adjacent Mountain 1 Yuanwang

Fund

Domestic State-

CETC Investment Holdings Co. Ltd. owned 2.71% 248366268 - - -

corporation

Domestic

Hangzhou Pukang Equity Investment non-state-

1.99% 182510174 - Pledged 56790000

Partnership (Limited Partnership) owned

corporation

Domestic State-

The 52nd Research Institute at China Electronics

owned 1.97% 180775044 - - -

Technology Group Co. Ltd.corporation

Domestic

Hu Yangzhong 1.70% 155996477 1 16997358 - -

Individual

China Life Insurance Co. Ltd. - Traditional -

Other 1.39% 127550920 - - -

Ordinary Insurance Product - 005L-CT001 SH

Domestic State-

Central Huijin Investment Co. Ltd. owned 0.71% 64700691 - - -

corporation

Particulars about shares held by the Top 10 common shareholders holding shares that are not subject to trading restriction(s)

(Excludes loaned shares through refinancing and lock-up shares of senior executives)

Number of common shares Type of shares

Name of shareholder without trading restrictions

held at the period-end Type Number

China Electronics Technology HIK Group Co.

3416996509 RMB common shares 3416996509

Ltd.Hikvision 2025 Q3 Report

Gong Hongjia 962504814 RMB common shares 962504814

Hangzhou Weixun Equity Investment

450795176 RMB common shares 450795176

Partnership (Limited Partnership)

Shanghai Perseverance Asset Management

Partnership (Limited Partnership) -

280000000 RMB common shares 280000000

Perseverance Adjacent Mountain 1 Yuanwang

Fund

CETC Investment Holdings Co. Ltd 248366268 RMB common shares 248366268

Hangzhou Pukang Equity Investment

182510174 RMB common shares 182510174

Partnership (Limited Partnership)

The 52nd Research Institute at China Electronics

180775044 RMB common shares 180775044

Technology Group Co. Ltd

China Life Insurance Co. Ltd. - Traditional -

127550920 RMB common shares 127550920

Ordinary Insurance Product - 005L-CT001 SH

Central Huijin Investment Co. Ltd. 64700691 RMB common shares 64700691

Industrial and Commercial Bank of China Co.Ltd. – Huatai PineBridge CSI 300 Exchange 63051156 RMB common shares 63051156

Traded Fund

In the aforementioned 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 acting in concert. Mr. Gong Hongjia

and Hangzhou Pukang Equity Investment Partnership (Limited Partnership) are

Explanation on associated relationship and

acting in concert. Hu Yangzhong and Hangzhou Weixun Equity Investment

concerted actions among above shareholders

Partnership (Limited Partnership) are acting in concert. 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 Administration of

the Takeover of Listed Companies Procedures.Situation of shareholders holding more than 5% of the shares the top 10 shareholders and the top 10 shareholders

of common shares without trading restrictions participating in the lending of shares in the refinancing business

□Applicable √Inapplicable

Changes of the top 10 shareholders and the top 10 shareholders that are not subject to trading restriction compared

with the previous period due to refinancing lending/repayment issues

□ Applicable √ Inapplicable

2. Total Number of Preferred Shareholders and Information about Top 10 Preferred Shareholders

□ Applicable √ InapplicableHikvision 2025 Q3 Report

III. Significant Events

√Applicable □Inapplicable

1. The Company has completed the implementation of its share repurchase plan and has cancelled the

repurchased shares

Based on the firm confidence in the Company's future development prospects and the high recognition of its long-

term value the Chairman of the board proposed a share repurchase on October 18 2024. The proposal was reviewed

and approved at the 4th Meeting of the Sixth Board of Directors on December 9 2024 and the 2024 2nd

Extraordinary General Meeting on December 25 2024 through the Share Repurchase Plan Proposal. The company

is authorized to repurchase a portion of its domestically issued RMB ordinary shares (A-shares) via centralized

bidding on the Shenzhen Stock Exchange. The total repurchase amount shall not exceed RMB2.50 billion (inclusive)

and shall be no less than RMB2.00 billion (inclusive) with a maximum repurchase price of RMB 401 per share

(inclusive). Funding sources include the Company's own capital and a dedicated share repurchase loan. The

repurchase period shall not exceed 12 months from the date of shareholder approval. The repurchased shares will

be canceled to reduce registered capital. For details refer to the announcements published on October 19 December

10 and December 26 2024: Announcement on the Chairman of the board's Share Repurchase Proposal Resolution

of the Fourth Meeting of the Sixth Board of Directors Announcement on the Share Repurchase Plan Resolution of

the 2024 Second Extraordinary General Meeting and Share Repurchase Report.On December 26 2024 the Company completed its first repurchase of 4003019 shares via a dedicated securities

account through centralized bidding representing 0.0434% of the total shares outstanding at the time of the

repurchase. The highest and lowest transaction prices were RMB 31.50/share and RMB 31.06/share respectively

with a total share value of RMB 125613283.27 (excluding transaction fees). During the implementation period of

the share repurchase the company strictly complies with the relevant legal and regulatory requirements announcing

the repurchase progress as of the end of the previous month within the first three trading days of each month. The

company promptly fulfills its obligation to disclose the progress of the repurchase. For details refer to the

Announcement on the First Repurchase of Company Shares published on the CNINFO website on December 27

2024 and the monthly Announcement on the Progress of the Company’s Share Repurchase.

1 Due to the implementation of the 2024 annual rights distribution the upper limit of the repurchase price has been adjusted to RMB

39.30 per share since May 20 2025.Hikvision 2025 Q3 Report

As of the market close on August 28 the Company has cumulatively repurchased 68326776 shares through a

dedicated securities repurchase account using the centralized bidding trading method. This represents 0.74% of the

total pre-cancellation share capital (9233198326 shares). The highest transaction price was RMB 32.70 per share

the lowest transaction price was RMB 27.06 per share and the average transaction price was RMB 29.69 per share.The total transaction amount was RMB 2028349444.12 (excluding transaction fees). The funds for this repurchase

came from the Company’s own funds and a special loan for share repurchase and the repurchase price did not

exceed the upper limit set in the repurchase plan. The Company has completed the implementation of this share

repurchase plan. On September 4 2025 the company completed the cancellation procedures for the above shares

at China Securities Depository and Clearing Co. Ltd. Shenzhen Branch. For more details refer to Announcement

on the Implementation Results and Share Changes of the Share Repurchase and Announcement on the Completion

of Share Repurchase Cancellation and Share Changes published on the CNINFO website on August 29 2025 and

September 9 2025 respectively.

2. The Company proposed and implemented the 2025 mid-year dividend plan.

To further enhance shareholder returns increase shareholder satisfaction and boost confidence in the Company’s

future development on August 11 2025 Mr. Hu Yangzhong the Company’s chairman proposed that the company

formulate and implement a 2025 interim dividend plan. The Company held its Seventh Meeting of the Sixth Board

of Directors on September 5 2025 and the First Extraordinary General Meeting of 2025 on September 23 2025

to review and approve the Proposal on the 2025 Interim Dividend Plan. The plan agreed to distribute a cash dividend

of RMB 4.00 (tax included) per 10 shares to all shareholders based on the total number of shares entitled to profit

distribution as of the record date for the 2025 interim dividend (i.e. the current total share capital of 9164871550

shares) with no bonus shares issued and no capital reserve conversion. The total amount of this cash dividend is

RMB 3665948620.00. The record date for this semi-annual rights distribution is October 9 2025 and the ex-date

is October 10 2025. The Company has completed the implementation of the semi-annual rights distribution plan.For more details see the Announcements published on the CNINFO website on August 12 2025 September 6

2025 and September 26 2025 respectively: Notice of the Company’s Chairman Proposing the Implementation of

the 2025 Interim Dividend Announcement on the 2025 Interim Dividend Plan and Announcement on the

Implementation of the 2025 Semi-Annual Rights Distribution.Hikvision 2025 Q3 Report

IV. Quarterly Financial Reports

1. Financial Statements

1.1 Consolidated balance sheet

Unit: RMB

Item September 30 2025 December 31 2024

Current Assets:

Cash and bank balances 36650972737.97 36271488337.03

Derivative financial assets 6060739.31 26775923.93

Notes receivable 2794651394.59 2722596142.46

33173991626.8237910128735.42

Accounts receivable

Receivables for financing 1903857102.80 2291648244.05

Prepayments 711294664.61 664602593.01

Other receivables 587756665.24 531344606.50

Inventories 20105048915.91 19110711958.11

Contract assets 958384099.80 985822785.69

Non-current assets due within one year 671208361.54 894327647.82

Other current assets 1278645132.31 1071066653.10

Total Current Assets 98841871440.90 102480513627.12

Non-current Assets:

Long-term receivables 250492421.42 380453188.09

Long-term equity investment 1638181782.48 1527223390.79

Other non-current financial assets 475993325.46 472000082.76

Fixed assets 16787289311.27 15063752296.49

Construction in progress 4569842911.63 4699473381.21

Right-of-use assets 450330390.28 530138023.79

Intangible assets 1852100830.16 1828287135.99

Goodwill 312187169.01 312165129.29

Long-term deferred expenses 135088800.91 162841758.91

Deferred tax assets 2317960595.41 2206191157.06

Other non-current assets 2232034006.58 2353160984.64

Total Non-current Assets 31021501544.61 29535686529.02

Total Assets 129863372985.51 132016200156.14

Current Liabilities:

Short-term borrowings 1478839687.75 1031895812.62

Derivative financial liabilities 7469351.47 1874341.64

Notes payable 423074018.58 1197128746.56

Accounts payable 17544873021.16 20185303107.69Hikvision 2025 Q3 Report

Item September 30 2025 December 31 2024

Contract liabilities 3596901370.41 3353943054.24

Payroll payable 6018465709.07 5666415834.10

Taxes payable 1887982835.06 1535936096.02

Other payables 5575765631.77 3528359044.48

Including: dividends payable 2077144117.19 186793.11

Non-current liabilities due within one year 3824770730.18 767030688.91

Other current liabilities 376930931.62 377117275.65

Total Current Liabilities 40735073287.07 37645004001.91

Non-current Liabilities:

Long-term borrowings 1357343268.55 5119185000.00

Lease liabilities 306827886.52 375432749.68

Long-term payables 9749569.60 9780220.80

Provisions 351327201.61 305250049.71

Deferred income 823446188.87 874512073.53

Deferred tax liabilities 130584318.84 112711363.52

Other non-current liabilities 177518573.22 74029948.84

Total Non-current liabilities 3156797007.21 6870901406.08

Total Liabilities 43891870294.28 44515905407.99

Owners’ Equity

Share capital 9164871550.00 9233198326.00

Capital reserves 4302740979.56 6181644265.06

Less: Treasury shares - 310044296.12

Other comprehensive income 28149471.40 (111510486.21)

Surplus reserves 4715460312.00 4715460312.00

Retained earnings 60182847561.63 60959912942.15

Total owners' equity attributable to owner

78394069874.5980668661062.88

of the Company

Minority equity 7577432816.64 6831633685.27

Total Owners' Equity 85971502691.23 87500294748.15

Total Liabilities and Owners' Equity 129863372985.51 132016200156.14

Legal Representative: Hu Yangzhong

Person in Charge of the Accounting work: Jin Yan

Person in Charge of Accounting Institution: Zhan JunhuaHikvision 2025 Q3 Report

1.2 Consolidated income statement from the beginning of the year to the end of the reporting period

Unit: RMB

2024 Q1~Q3

Item 2025 Q1~Q3

(Restated)

I. Revenue 65757782457.01 64991467788.45

II．Total Operating Costs 55686958076.14 55973716430.00

Less: Cost of sales and services 35925957434.61 36045818382.36

Business taxes and surcharges 580526397.79 518733466.76

Selling expenses 8848755711.92 8543958715.48

Administrative expenses 2228082915.85 2261849315.30

Research and development (R&D)

8738019947.938736220937.73

expenses

Financial expenses (634384331.96) (132864387.63)

Including：Interest expenses 153576328.82 316839376.56

Interest income 392986285.68 712317025.99

Add: Other income 2077470226.71 1938138530.25

Investment income (loss"-") 142210131.47 37783854.68

Including: Investment gains (losses) in

associated enterprise and joint-venture 171642463.57 (89958117.85)

enterprise

Gains on derecognition of financial assets

89740.00-

measured at amortized cost

Gains (loss"-") from changes in fair values (26762278.99) 7519902.82

Credit impairment losses ("-") (346820752.43) (600045342.10)

Impairment losses ("-") of assets (318298549.51) (269141180.16)

Asset disposal income (loss"-") 19524387.58 (13809533.99)

III. Operating Profit (loss"-") 11618147545.70 10118197589.95

Add: Non-operating income 53542089.72 51891881.12

Less: Non-operating expenses 12125089.21 19894367.06

IV. Total Profit (loss"-") 11659564546.21 10150195104.01

Less: Income tax expenses 1405797200.10 1242370816.25

V. Net Profit (loss"-") 10253767346.11 8907824287.76

5.1 Classification by operation continuity

(a) Net profit (loss) on continuous

10253767346.118907824287.76

operation

(b) Net profit (loss) on terminated

--

operation

5.2 Classification by attribution of

ownership

(a) Net profit attributable to owners of 9319124728.48 8107748494.46Hikvision 2025 Q3 Report

2024 Q1~Q3

Item 2025 Q1~Q3

(Restated)

parent company

(b) Profit or loss attributable to minority

934642617.63800075793.30

shareholders

VI. Other Comprehensive Income Net of

213152756.92(239996824.05)

Income Tax

Other comprehensive income attributable to

139659957.61(126255854.26)

owners of the 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 or loss in subsequent 139659957.61 (126255854.26)

periods

1. Exchange differences arising on

conversion of financial statements 139659957.61 (126255854.26)

denominated in foreign currencies

Other comprehensive income attributable to

73492799.31(113740969.79)

minority interests net of tax

VII. Total Comprehensive Income 10466920103.03 8667827463.71

Total comprehensive income attributable to

9458784686.097981492640.20

owners of the parent company

Total comprehensive income attributable to

1008135416.94686334823.51

minority shareholders

VIII. Earnings Per Share

(I) Basic earnings per share 1.014 0.878

(II) Diluted earnings per share 1.014 0.878

Legal Representative: Hu Yangzhong

Person in Charge of the Accounting work: Jin Yan

Person in Charge of Accounting Institution: Zhan Junhua

1.3 Consolidated cash flow statement from the beginning of the year to the end of the reporting period

Unit: RMB

Item 2025 Q1~Q3 2024 Q1~Q3

I. Cash Flows from Operating Activities:

Cash received from sale of goods or rendering of services 78369270196.90 67372383421.35

Receipts of tax refunds 3236882063.37 3213608844.77

Other cash receipts relating to operating activities 1186697756.92 1296159457.61

Sub-total of cash inflows from operating activities 82792850017.19 71882151723.73

Cash payments for goods purchased and services received 43989344135.13 43319394936.84

Cash paid to and on behalf of employees 15020772578.45 15514458996.41

Payments of various types of taxes 4871467136.41 4712595300.53

Other cash payments relating to operating activities 5214237658.15 5731977415.15

Sub-total of cash outflows from operating activities 69095821508.14 69278426648.93

Net Cash Flows from Operating Activities 13697028509.05 2603725074.80Hikvision 2025 Q3 Report

Item 2025 Q1~Q3 2024 Q1~Q3

II. Cash Flows from Investing Activities:

Cash receipts from recovery of investments 3485922506.33 1942144541.12

Cash receipts from investment income 94952951.57 67033430.58

Net cash receipts from disposals of fixed assets intangible

116817690.295366246.45

assets and other long-term assets

Other cash receipts relating to investing activities 83324543.71 43213496.63

Sub-total of cash inflows from investing activities 3781017691.90 2057757714.78

Cash payments to acquire or construct fixed assets

3084953932.553387563388.43

intangible assets and other long-term assets

Cash paid to acquire investments 3526776934.84 1985960403.43

Sub-total of cash outflows from investing activities 6611730867.39 5373523791.86

Net Cash Flows from Investing Activities (2830713175.49) (3315766077.08)

III. Cash Flows from Financing Activities:

Cash receipts from borrowings 2958594145.25 5701717778.30

Other cash receipts relating to financing activities - 2007056.47

Sub-total of cash inflows from financing activities 2958594145.25 5703724834.77

Cash repayments of borrowings 3214101612.10 14450997152.86

Cash payments for distribution of dividends or profits or

8446049990.608892175431.16

settlement of interest expenses

Other cash payments relating to financing activities 1891269646.27 2953233662.83

Sub-total of cash outflows from financing activities 13551421248.97 26296406246.85

Net Cash Flows from Financing Activities (10592827103.72) (20592681412.08)

IV. Effect of Foreign Exchange Rate Changes on Cash and

47525893.69(43647573.77)

Cash Equivalents

V. Net Increase in Cash and Cash Equivalents 321014123.53 (21348369988.13)

Add: Opening balance of Cash and Cash Equivalents 36053042380.29 49427967355.78

VI. Closing Balance of Cash and Cash Equivalents 36374056503.82 28079597367.65

Legal Representative: Hu Yangzhong

Person in Charge of the Accounting work: Jin Yan

Person in Charge of Accounting Institution: Zhan Junhua

2. Adjustments to financial report at the beginning of the year relating to the initial adoption of the new

accounting standards or interpretation of standards since 2025.□Applicable √Inapplicable

3. Audit Report

Whether audit has been performed on the 2025 3rd quarter financial reportHikvision 2025 Q3 Report

□ Yes √ No

The Company’s 2025 3rd quarter financial report has not been audited.HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO. LTD.Board of Directors

October 18 2025

Note:

This document is a translated version of the Chinese version 2025 3rd Quarter Report (“2025 年第三季度报告”)

and the published announcements in the Chinese version shall prevail. The complete published Chinese 2025 3rd

Quarter Report may be obtained at www.cninfo.com.cn.