海康威视:2025年半年度报告(英文版)

Hangzhou Hikvision Digital Technology Co., Ltd.
2025 Half Year Report
January to June 2025
August 2, 2025

Section I Important Notes, Contents and Definitions
The Board of Directors, Board of Supervisors, directors, supervisors 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.
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 department (accounting
supervisor) hereby declare and warrant that the financial statements in this half year report are
authentic, accurate and complete.
All directors of the Company have attended the board meeting to review this report.
Thehalf yearproposal ofprofit distributionorsharedistributionfrom capital reservepassedupon
deliberation at the meeting of the Board of Directors (not applicable): The Company will not
distribute cash dividend, distribute bonus shares, or distribute shares from capital reserve during the
current reporting period.
Note:
This document is a translated version of the Chinese version 2025 Half Year Report (2025 年半年度
报告),and thepublished announcements in theChineseversionshall prevail. Thecompletepublished
Chinese 2025 Half Year Report may be obtained at www.cninfo.com.cn.

Please read the half year report and pay particular attention to the following risk factors:
(1) Risks of domestic economic transformation: Continuous adjustments in fiscal spending and real estate
investment markets, the expectation for healthy economic development across society still needs to be
strengthened, and trade protectionist policies implemented by some overseas countries pose challenges to
domestic enterprises’export capabilities. The economy is still in the process of transformation and upgrading.
The Company empowers economic and social digital transformation with AIoT technologies and products,
promoting new productivity development. However, transformation and upgrading cannot be achieved
overnight, and structural pressures in the economy and society will persist over the long term. Fluctuations
during this process will continue to impact the Company’s business operations.
(2) Global economic downside risks: Individual countries intensifying trade protection policies, some major
economies experiencing slower growth, uneven development across regions, and continuous fluctuations in
themacroeconomicenvironment.TheCompanydiversifiesitsoperationalrisksacrossawiderangeofbusiness
operations and conducts business according to the specific conditions of each country and region. However, if
a global economic recession occurs, the Company’s business will also be affected to some extent.
(3) Geopolitical risks: The global political system is evolving toward a multipolar structure, with continuously
declining stability and predictability, and ongoing intractable local conflicts. In recent years, the Company has
continuously strengthened risk control, enhanced response capabilities, and adjusted resource allocation based
on the business environment. However, if the geopolitical environment suddenly deteriorates, the Company’s
operations in certain countries and regions may still be adversely affected.
(4) Technology upgrading risks: With the rapid development of AI, big data, IoT, cloud computing and other
technologies, technological applications are iterating quickly. The Company has some strength in technology
fields such as IoT perception, AI, and big data, and maintains technological iteration through extensive
commercial practices. However, if it fails to closely track updates in cutting-edge technologies or sustain
innovation and expansion of its technical system, the uncertainty of the Company's future development will
increase.
(5) Risks of internal management: The Company's continual business expansion and development of new
products and business services add complexity to internal management, posing new challenges to our
management capabilities. The Company accumulates management experience through the development of
systemsandprocedureswithafocusontalentcultivationandconstruction.However,theCompany'soperations
will be adversely affected if our management capabilities cannot keep up with the business expansion.
(6) Financial risks caused by customers' reduced ability to pay: The flow of funds in commercial transactions
is affected by the economic environment. The Company’s financial operations are closely tied to the
performance of partners upstreamand do