Hikvision 2023 Q1 Report
Stock Exchange Code：002415 Abbreviation of Securities：Hikvision
No：2023-013
Hangzhou Hikvision Digital Technology Co., Ltd.
2023 1st 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:
Whether the directors, supervisors and senior management have any objection to the content of this
quarterly report or cannot guarantee the truthfulness, accuracy and completeness of this quarterly
report
□ Yes √ No
1. 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.
2. 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 institution (accounting
supervisor) hereby declare and warrant that the financial information in this report is true, accurate
and complete.
3. Whether the 1st quarter report has been audited
□Yes√ No
Hikvision 2023 Q1 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
Reasons for retroactive adjustment or restatement of the previous accounting data
√ Changes in accounting policies
2022 Q1 YoY Change(%) between 2022 Q1 and 2023 Q1
2023 Q1
Before the adjustment After the adjustment After the adjustment
Revenue (RMB) 16,201,189,412.53 16,521,549,351.36 16,521,549,351.36 -1.94%
Net profits attributable to shareholders of the Company
1,811,255,388.03 2,284,174,955.78 2,283,755,331.73 -20.69%
(RMB)
Net profits attributable to shareholders of the Company
1,554,094,332.67 2,210,077,663.70 2,209,658,039.65 -29.67%
excluding non-recurring gains and losses (RMB)
Net cash flows from operating activities (RMB) -3,285,523,507.64 -3,904,933,407.63 -3,904,933,407.63 15.86%
Basic earnings per share (RMB/share) 0.196 0.247 0.247 -20.65%
Diluted earnings per share (RMB/share) 0.196 0.246 0.246 -20.33%
Weighted average Return on Equity (ROE) 2.61% 3.53% 3.53% -0.92%
Change(%) between December 31, 2022 and
On December 31, 2022
On March 31, 2023 March 31, 2023
Before the adjustment After the adjustment After the adjustment
Total assets (RMB) 117,177,724,893.23 119,233,282,761.47 119,235,059,709.22 -1.73%
Owner’s equity attributable to shareholders of the Company
70,417,978,013.39 68,389,154,548.76 68,387,715,474.08 2.97%
(RMB)
Hikvision 2023 Q1 Report
Reasons for changes in accounting policies and situations of correction of accounting errors
Note:
The Ministry of Finance issued the Interpretation No. 16 of Accounting Standards for Business Enterprises (the
"Interpretation No. 16") on November 30, 2022. It clarifies that the "exemption of initial recognition shall not apply
to the deferred income tax relating to assets and liabilities arising from a single transaction" and this provision is
effective as of January 1, 2023. Where the lease liabilities and right-of-use assets recognized at the beginning of the
earliest period of the financial statement presentation in which this provision was first implemented, as well as the
estimated liabilities related to abandonment obligations and corresponding related assets recognized for individual
transactions to which this provision applied generate taxable and deductible temporary differences, the Group will
make a cumulative-effect adjustment to the opening retained earnings and other related financial statement items in
the earliest period presented in the financial statements in accordance with this provision and the ASBE No. 18 -
Income Taxes.
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) 9,363,932,789
Fully diluted earnings per share calculated using the latest share capital:
Fully diluted earnings per share (RMB/share) calculated with the latest share capital 0.193
2. Items and Amounts of Non-recurring Gains and Losses
√ Applicable □ Inapplicable
Unit：RMB
Item January 1, 2023–March 31, 2023
Profit or loss from disposal of non-current assets (including the write-off for the
-2,348,351.22
impairment provision of assets)
Government subsidies included in the current profit and loss (except for government
subsidies that are closely related to the Company's regular business operations, comply
153,610,863.51
with national policies, and those that are continuously enjoyed in accordance with a
certain standard fixed or quantitative basis)
Gain or loss on a business combination achieved through multiple transactions and not
116,433,610.45
under common control
Profits and losses attributed to change in fair value for held-for-trading financial assets
and held-for-trading financial liabilities; and investment income from disposal of held-
for-trading financial assets, held-for-trading financial liabilities, and available-for-sale 5,014,019.28
financial assets, excluding the effective hedging business related to the regular business
operation of the Company.
Hikvision 2023 Q1 Report
Item January 1, 2023–March 31, 2023
Other non-operating income and expenditures except the items mentioned above 29,681,868.27
Less: Impact of income tax 28,820,065.58
Impact of the minority interests (after tax) 16,410,889.35
Total 257,161,055.36
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
as recurring gain/loss item.
□ Applicable √ Inapplicable
The Company does not classify any non-recurring gain/loss item mentioned in the 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
Balance on March 31, Balance on December
Item YoY change (%) Note of Changes
2023 (RMB) 31, 2022 (RMB)
Held-for-trading There were no undelivered
- 12,807,438.36
financial assets forward foreign exchange
-100.00%
Held-for-trading contracts at the end of the
- 68,299,685.57
financial liabilities reporting period
Goodwill and deferred tax
Goodwill 341,424,119.74 217,386,531.28 57.06% liabilities arising from
combinations not involving
enterprises under common
Deferred tax liabilities 157,219,349.48 119,314,055.82 31.77%
control
2022 year-end bonus were
Payroll payable 2,724,869,742.25 4,837,302,455.95 -43.67%
paid in this quarter
Long-term borrowings 10,674,015,567.53 7,522,315,341.60 37.19% Increase in demands for
Hikvision 2023 Q1 Report
Balance on March 31, Balance on December
Item YoY change (%) Note of Changes
2023 (RMB) 31, 2022 (RMB)
Non-current liabilities long-term working capital
837,214,836.18 868,197,272.46
due within one year
Share capital 9,363,932,789.00 9,430,920,624.00 -0.71%
Completion of repurchase
and cancellation of
Capital reserves 8,361,756,601.50 10,141,153,435.32 -17.55%
outstanding shares
Treasury shares 3,272,148,424.89 5,316,033,650.24 -38.45%
3.2 Explanation for variations in income statement items
2023 Q1 2022 Q1 YoY Change
Items Note of changes
(RMB) (RMB) (%)
Business taxes and Increase in additional taxes caused by
162,501,664.68 103,960,428.47 56.31%
surcharges increase in the VAT credit
Financial expenses -50,535,488.90 5,107,219.67 -1089.49% Foreign exchange gains increased
Gains from investment in joint
ventures and associated enterprises
Investment income 53,024,459.67 132,282,275.71 -59.92% decreased, as well as trading gains
from foreign exchange hedging
business decreased
Gains from changes in fair value of
Gains/losses from
76,962,398.56 -36,969,562.42 308.18% foreign exchange hedging business
changes in fair value
increased
Provision for inventory depreciation
Asset impairment losses -141,629,819.18 -40,075,823.89 -253.40%
increased
3.3 Explanation for variations in cash flow statement items
2023 Q1 2022 Q1 YoY Change
Item Note of changes
(RMB) (RMB) (%)
Net cash flow from
-3,285,523,507.64 -3,904,933,407.63 15.86% Increase in sales collection
operating activities
Net cash flows from
-758,788,857.48 -795,128,733.12 4.57% No significant change
investing activities
2021 incentive restricted share
Net cash flows from
2,031,442,402.22 4,247,971,748.82 -52.18% subscriptions were received at the
financing activities
same period of the previous year
Hikvision 2023 Q1 Report
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 preferred shareholders (if any) whose voting rights
Total number of common shareholders at the end of the reporting period 329,519 0
have been recovered at the end of the reporting period (if any)
Particulars about Top 10 shareholders
The number of Pledged, marked or frozen
Share- common
Total shares held
Name of shareholder Nature of shareholder holding percentage shares held
at the period-end Status Amount
(%) with trading
restrictions
Domestic state-owned
China Electronics Technology HIK Group Co., Ltd. 36.35% 3,403,879,509 - Pledged 50,000,000
corporation
Gong Hongjia Overseas individual 10.28% 962,504,814 - Pledged 71,270,000
Domestic non-state-
Hangzhou Weixun Equity Investment Partnership (Limited Partnership) 4.81% 450,795,176 - Pledged 30,600,000
owned corporation
Shanghai Perseverance Asset Management Partnership (Limited Partnership) -
Other 4.61% 432,000,000 - - -
Perseverance Adjacent Mountain 1 Yuanwang Fund
Domestic state-owned
CETC Investment Holdings Co., Ltd. 2.48% 232,307,903 - - -
corporation
Domestic non-state-
Hangzhou Pukang Equity Investment Partnership (Limited Partnership) 1.95% 182,510,174 - Pledged 120,420,000
owned corporation
The 52nd Research Institute at China Electronics Technology Group Domestic state-owned
1.93% 180,775,044 - - -
Corporation corporation
Hu Yangzhong Domestic individual 1.66% 155,246,477 116,434,858 - -
Domestic state-owned
Central Huijin Investment Co., Ltd. 0.69% 64,700,691 - - -
corporation
Hong Kong Securities Clearing Company Ltd.(HKSCC) Overseas corporation 0.51% 47,971,720 - - -
Particulars about shares held by the Top 10 common shareholders holding shares that are not subject to trading restriction(s)
Hikvision 2023 Q1 Report
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., Ltd. 3,403,879,509 RMB ordinary shares 3,403,879,509
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) -
432,000,000 RMB ordinary shares 432,000,000
Perseverance Adjacent Mountain 1 Yuanwang Fund
CETC Investment Holdings Co., Ltd. 232,307,903 RMB ordinary shares 232,307,903
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
Central Huijin Investment Co., Ltd. 64,700,691 RMB ordinary shares 64,700,691
Hong Kong Securities Clearing Company Ltd.(HKSCC) 47,971,720 RMB ordinary shares 47,971,720
Shanghai Chongyang Strategic Investment Ltd. – Chongyang Strategic
43,418,969 RMB ordinary shares 43,418,969
Intelligence Fund
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
Explanation on associated relationship and concerted actions among above
shareholder of the Company. Hu Yangzhong, domestic individual, is holding shares in both Hangzhou Weixun
shareholders
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.
Information on Top 10 shareholders of participating in margin trading and short Shanghai Chongyang Strategic Investment Ltd. – Chongyang Strategic Intelligence Fund, a shareholder, held
selling business 43,418,969 shares of the Company in a margin account.
Hikvision 2023 Q1 Report
2. Total number of preferred shareholders and information about Top 10 preferred shareholders
□ Applicable √ Inapplicable
Hikvision 2023 Q1 Report
III. Significant Events
√Applicable □Inapplicable
1. Repurchase of the Company's Public Shares
On September 15, 2022 and October 10, 2022, the Company held the 13h meeting of the 5th session of the
Board of Directors and the second extraordinary general meeting of shareholders in 2022 respectively, deliberated
and approved the Proposal on the Plan of Repurchase Part of the Company's Public Shares, approved the Company
using its own fund to repurchase part of its RMB common shares (A shares) that have been issued domestically by
means of centralized bidding through the trading system of the SZSE, the aggregate amount of repurchase funds
shall not exceed RMB2.5 billion (inclusive) and not less than RMB 2 billion (inclusive), the repurchase price shall
not exceed RMB40 per share (inclusive), the implementation period of the repurchase shall not exceed 12 months
from the date of the general meeting of shareholders of the Company at which the proposal on the plan of repurchase
part of the Company's public shares is reviewed and approved, and the Company will make repurchase decisions
and implement them based on market conditions during the repurchase period. The shares repurchased by the
Company will be cancelled for reducing the registered capital according to law. For details, please refer to the
Announcement on Resolutions of 13th Meeting of the 5th Session of the Board of Directors (Announcement No.:
2022-049), the Announcement on the Plan of Repurchase Part of the Company's Public Shares (Announcement No.:
2022-050), the Announcement on Resolutions of the Second Extraordinary General Meeting of Shareholders in
2022 (Announcement No.: 2022-056), the Report on the Plan of Repurchase Part of the Company's Public Shares
(Announcement No.: 2022-057) published by the Company on cninfo website (www.cninfo.com.cn) on September
16, 2022 and October 11, 2022. On October 11, 2022, the Company first repurchased 6,820,968 shares of the
Company by means of centralized bidding through a dedicated securities account for the repurchase, accounting for
0.0723% of the Company's total share capital at that time. The highest transaction price was RMB29.65 per share,
the lowest transaction price was RMB28.71 per share, and the total transaction amount was RMB199,981,024.67
(excluding transaction fees). For details, please refer to the Announcement on the Initial Repurchase of the
Company's Shares (Announcement No.: 2022-059) published by the Company on cninfo website
(www.cninfo.com.cn) on October 12, 2022. During the repurchase period, the Company disclosed the progress of
repurchase as of the end of last month within the first three trading days each month based on the regulation. For
details, please refer to the Announcement on the Progress of Repurchase (Announcement No.: 2022-063)
(Announcement No.: 2022-066) published by the Company on cninfo website (www.cninfo.com.cn) on November
Hikvision 2023 Q1 Report
2, 2022, December 3, 2022, respectively. As of December 30, 2022, the repurchase of shares had been completed,
and the actual repurchase date was between October 11, 2022 and December 30, 2022, meet the requirement on
implementation period of repurchase in repurchase plan. As of December 30, 2022, the Company used the dedicated
securities account for share repurchase to cumulatively repurchase shares with the total amount of 66,987,835 shares
by means of centralized bidding, accounting for 0.7103% of the Company's total share capital at that time
(9,430,920,624 shares). The highest transaction price was RMB35.13 per share, the lowest transaction price was
RMB26.83 per share, and the total transaction amount was RMB2,043,476,488.53 (excluding transaction fees). The
source of share-repurchase funding was from the Company's own fund, and the price of repurchase did not exceed
the upper limit of the price (RMB40 per share) specified in the repurchase plan. The repurchase complies with
relevant laws, regulations and rules from the disclosed repurchase plan. For details, please refer to the
Announcement on the Progress and Result of Repurchase of the Company's Shares and Changes in Shares
(Announcement No.: 2023-001) published by the Company on cninfo website (www.cninfo.com.cn) on January 4,
2023. On January 13, 2023, the Company had completed the cancellation procedures for the above shares at the
Shenzhen branch of China Securities Depository and Clearing Corporation Limited, with the total amount of
66,987,835 shares, accounting for 0.7103% of the Company's total share capital before the cancellation
(9,430,920,624 shares), and the number of cancelled shares is equal to the number of actual repurchased shares.
After the completion of the repurchase and cancellation of shares, the Company's total share capital changes from
9,430,920,624 shares to 9,363,932,789 shares. For details, please refer to the Announcement on the Completion of
the Cancellation of the Company's Repurchased Shares and Changes in Shares (Announcement No.: 2023-002)
published by the Company on cninfo website (www.cninfo.com.cn) on January 17, 2023.
2. Matters Relating to Steady Promotion of the Spin-off of HikRobot to be Listed on the SZSE ChiNext Market
On March 7th 2023, Hangzhou Hikrobot Co., Ltd. (hereinafter referred to as "HikRobot") received Notice on
Accepting the Application Documents for the Initial Public Offering of Shares and Listing on the SZSE ChiNext
Market of Hangzhou Hikrobot Co., Ltd. (SZSE Listing Review [2023] No. 252) issued by Shenzhen Stock Exchange,
and SZSE considered that application documents were completed and decided to accept. For details, please refer to
the Announcement on the Application for the Initial Public Offering of Shares and Listing on the SZSE ChiNext
Market of Hangzhou Hikrobot Co., Ltd., a Subsidiary of the Company, is Accepted by the SZSE (Announcement
No.: 2023-008) published by the Company on cninfo website (www.cninfo.com.cn) on March 8, 2023.
3. Matters Relating to Capital Increase and Introduction of Strategic Investors for Wholly-Owned Subsidiary
Hikvision 2023 Q1 Report
Shijiazhuang Sensortech
On February 15, 2023, the Company held the 16th meeting of the 5th session of the Board of Directors, reviewed
and approved the Proposal on Capital Increase and Introduction of Strategic Investors for Wholly-Owned
Subsidiary Shijiazhuang Sensortech Intelligent Technology Co., Ltd. (hereinafter referred to as "Shijiazhuang
Sensortech") and agreed to increase the registered capital of Shijiazhuang Sensortech by RMB2,398,000,000.
Hikvision intended to increase the registered capital of Shijiazhuang Sensortech by RMB1,345,200,000 to hold no
less than 56.0969% equity in the subsidiary. Meanwhile, Shijiazhuang Sensortech planned to introduce one or more
strategic investors via public listing with a total investment of RMB1,052,800,000 to obtain no more than 43.9031%
equity. The final amount of capital increase and shareholding ratios will be subject to the results of the listing
subscription. For details, please refer to the Announcement on Capital Increase and Introduction of Strategic
Investors for Wholly-Owned Subsidiary Shijiazhuang Sensortech Intelligent Technology Co., Ltd. (Announcement
No.: 2023-005) published by the Company on cninfo website (www.cninfo.com.cn) on February 16, 2023.
On February 24, 2023, the capital increase of Shijiazhuang Sensortech was listed on the China Beijing Equity
Exchange. Two potential investors were identified for the Shijiazhuang Sensortech Capital Increase Project at the
end of the announcement period. They were Hangzhou Qianmo Qinghe Equity Investment Partnership (Limited
Partnership) (hereinafter referred to as "Qianmo Qinghe") and a consortium of two investors: Qin Yi (a natural
person) and Wuhu Sensi Yingwo Investment Center (Limited Partnership) (hereinafter referred to as "Sensi
Yingwo"). The Company signed the Capital Increase Agreement (hereinafter referred to as "The Agreement") with
Qianmo Qinghe, Sensi yingwo and Qin Yi on March 28, 2023. Hikvision intended to use equity to subscribe a
capital increase of RMB1,345,200,000 and hold 56.0969% equity in Shijiazhuang Sensortech through an agreement.
The strategic investors participated in the capital increase through public delisting on the China Beijing Equity
Exchange. They subscribed a capital increase of RMB1,052,800,000 to hold 43.9031% equity in Shijiazhuang
Sensortech. Upon completion of the capital increase, the registered capital of Shijiazhuang Sensortech will increase
from RMB10,000 to RMB2,398,010,000. Hikvision will hold 56.0969% equity, maintaining a controlling interest
in Shijiazhuang Sensortech and shall consolidate the financial statements of this subsidiary. For details, please refer
to the Announcement on Progress of Capital Increase and Introduction of Strategic Investors for Wholly-Owned
Subsidiary Shijiazhuang Sensortech Intelligent Technology Co., Ltd. (Announcement No.: 2023-009) published by
the Company on cninfo website (www.cninfo.com.cn) on March 29, 2023.
Related inquiries on important information disclosure website:
Hikvision 2023 Q1 Report
Disclosure website of the temporary public
Title of the temporary public announcement Disclosure Date
announcement
Announcement on the Plan of Repurchase Part of the
September 16, 2022 www.cninfo.com.cn
Company's Public Shares (Announcement No. 2022-050)
Report on the Plan of Repurchase Part of the Company's
October 11, 2022 www.cninfo.com.cn
Public Shares (Announcement No. 2022-057)
Announcement on the Initial Repurchase of the Company's
October 12, 2022 www.cninfo.com.cn
Shares (Announcement No. 2022-059)
Announcement on the Progress of Repurchase November 2, 2022
www.cninfo.com.cn
(Announcement No. 2022-063, 2022-066) December 3, 2022
Announcement on the Progress and Result of Repurchase of
the Company's Shares and Changes in Shares January 4, 2023 www.cninfo.com.cn
(Announcement No. 2023-001)
Announcement on the Completion of the Cancellation of the
Company's Repurchased Shares and Changes in Shares January 17, 2023 www.cninfo.com.cn
(Announcement No.: 2023-002)
Announcement on the Application for the Initial Public
Offering of Shares and Listing on the SZSE ChiNext Market
of Hangzhou Hikrobot Co., Ltd., a Subsidiary of the March 8, 2023 www.cninfo.com.cn
Company, is Accepted by the SZSE (Announcement No.
2023-008)
Announcement on Capital Increase and Introduction of
Strategic Investors for Wholly-Owned Subsidiary
February 16, 2023 www.cninfo.com.cn
Shijiazhuang Sensortech Intelligent Technology Co., Ltd.
(Announcement No. 2023-005)
Announcement on Progress of Capital Increase and
Introduction of Strategic Investors for Wholly-Owned
March 29, 2023 www.cninfo.com.cn
Subsidiary Shijiazhuang Sensortech Intelligent Technology
Co., Ltd. (Announcement No. 2023-009)
Hikvision 2023 Q1 Report
IV. Quarterly Financial Reports
1. Financial Statements
1.1 Consolidated Balance Sheet
Unit: RMB
Item March 31, 2023 January 1, 2023
Current Assets:
Cash and bank balances 37,960,195,958.77 40,011,863,999.94
Held-for-trading financial assets 12,807,438.36
Notes receivable 2,479,882,694.01 2,519,988,159.23
Accounts receivable 29,312,106,347.19 29,906,294,410.40
Receivables for financing 1,488,139,531.94 1,484,218,258.74
Prepayments 544,917,298.59 534,780,120.52
Other receivables 594,255,497.08 516,503,485.58
Inventories 18,875,216,845.18 18,998,222,978.81
Contract assets 2,065,108,385.47 2,118,223,370.98
Non-current assets due within one year 1,047,738,568.51 996,902,343.27
Other current assets 839,745,695.37 806,832,941.58
Total Current Assets 95,207,306,822.11 97,906,637,507.41
Non-current Assets:
Long-term receivables 542,461,879.65 540,647,965.30
Long-term equity investment 1,167,426,208.70 1,252,033,513.41
Other non-current financial assets 447,363,391.29 423,893,239.94
Fixed assets 9,996,705,843.27 8,539,842,630.68
Construction in progress 2,798,969,423.71 3,770,803,300.80
Right-of-use assets 552,199,419.39 574,478,326.31
Intangible assets 1,685,463,741.07 1,544,933,502.19
Goodwill 341,424,119.74 217,386,531.28
Long-term deferred expenses 175,523,118.72 177,277,742.41
Deferred tax assets 1,536,645,480.92 1,471,423,436.79
Other non-current assets 2,726,235,444.66 2,815,702,012.70
Total Non-current Assets 21,970,418,071.12 21,328,422,201.81
Total Assets 117,177,724,893.23 119,235,059,709.22
Current Liabilities:
Short-term borrowings 2,649,065,150.61 3,343,071,972.89
Held-for-trading financial liabilities 68,299,685.57
Notes payable 1,276,078,763.67 1,207,756,963.94
Accounts payable 11,314,173,986.16 16,025,563,802.99
Hikvision 2023 Q1 Report
Item March 31, 2023 January 1, 2023
Contract Liabilities 2,686,194,705.83 2,644,496,508.36
Payroll payable 2,724,869,742.25 4,837,302,455.95
Taxes payable 1,198,821,878.10 1,234,032,138.37
Other payables 3,170,403,650.06 3,203,308,686.31
Non-current liabilities due within one year 837,214,836.18 868,197,272.46
Other current liabilities 867,764,239.34 923,721,593.78
Total Current Liabilities 26,724,586,952.20 34,355,751,080.62
Non-current Liabilities:
Long-term borrowings 10,674,015,567.53 7,522,315,341.60
Lease liabilities 288,470,278.18 277,255,924.83
Long-term payables 6,224,573.02 7,569,934.67
Provisions 217,105,543.12 219,365,227.62
Deferred income 916,214,633.22 933,260,426.12
Deferred tax liabilities 157,219,349.48 119,314,055.82
Other non-current liabilities 2,833,280,331.92 2,831,108,087.59
Total Non-current Liabilities 15,092,530,276.47 11,910,188,998.25
Total Liabilities 41,817,117,228.67 46,265,940,078.87
Owners’ Equity
Share capital 9,363,932,789.00 9,430,920,624.00
Capital reserves 8,361,756,601.50 10,141,153,435.32
Less: Treasury shares 3,272,148,424.89 5,316,033,650.24
Other comprehensive income (21,080,564.06) (42,587,158.81)
Surplus reserves 4,715,460,312.00 4,715,460,312.00
Retained earnings 51,270,057,299.84 49,458,801,911.81
Total Owners' Equity Attributable to Owner of the
70,417,978,013.39 68,387,715,474.08
Company
Minority equity 4,942,629,651.17 4,581,404,156.27
Total Owners' Equity 75,360,607,664.56 72,969,119,630.35
Total Liabilities and Owners' Equity 117,177,724,893.23 119,235,059,709.22
Legal Representative: Chen Zongnian Person in Charge of the Accounting work: Jin Yan
Person in Charge of Accounting Institution: Zhan Junhua
Hikvision 2023 Q1 Report
1.2 Consolidated Income Statement
Unit: RMB
Item 2023 Q1 2022 Q1
I. Total Revenue 16,201,189,412.53 16,521,549,351.36
Including: Revenue 16,201,189,412.53 16,521,549,351.36
II. Total Operating Costs 14,248,163,903.28 13,978,401,580.35
Including: Cost of sales and services 8,883,871,635.31 9,297,971,644.50
Business taxes and surcharges 162,501,664.68 103,960,428.47
Selling expenses 2,185,218,373.11 1,974,041,727.28
Administrative expenses 602,999,255.69 529,341,844.09
Research and Development (R&D) expenses 2,464,108,463.39 2,067,978,716.34
Financial expenses (50,535,488.90) 5,107,219.67
Including：Interest expenses 90,784,879.24 60,958,191.49
Interest income 230,994,108.15 190,359,285.26
Add: Other Income 431,143,072.40 345,650,804.89
Investment income (loss"-") 53,024,459.67 132,282,275.71
Including: Investment gains in associated
8,539,228.50 68,225,299.63
enterprise and joint-venture enterprise
Gains (loss "-") from changes in fair values 76,962,398.56 (36,969,562.42)
Credit impairment losses ("-") (110,068,759.04) (90,841,201.58)
Impairment losses ("-") of assets (141,629,819.18) (40,075,823.89)
Asset disposal income (loss"-") (2,263,571.88) (5,806,721.09)
III. Operating Profit (loss"-") 2,260,193,289.78 2,847,387,542.63
Add: Non-operating income 32,861,901.41 20,516,223.04
Less: Non-operating expenses 3,222,199.80 2,065,880.39
IV. Total Profit (loss"-") 2,289,832,991.39 2,865,837,885.28
Less: Income tax expenses 341,609,181.69 450,333,185.85
V. Net Profit (loss"-") 1,948,223,809.70 2,415,504,699.43
5.1 Classification by operation continuity
(a) Net profit (loss) on continuous operation 1,948,223,809.70 2,415,504,699.43
(b) Net profit (loss) on terminated operation
5.2 Classification by attribution of ownership
(a) Net profit attributable to owners of parent
1,811,255,388.03 2,283,755,331.73
company
(b) Profit or loss attributable to minority
136,968,421.67 131,749,367.70
shareholders
VI. Other Comprehensive Income, Net of Income Tax 54,430,037.77 (12,563,136.93)
Hikvision 2023 Q1 Report
Item 2023 Q1 2022 Q1
Other comprehensive income attributable to owners of the
21,506,594.75 (19,876,339.66)
Company, net of tax
(I) Items that will not be reclassified subsequently to profit or
loss
1. Re-measurement of changes in defined benefit plans
2. Other comprehensive income that cannot be
transferred to profit or loss under the equity method
3. Changes in fair value of other equity instrument
investments
4. Changes in the fair value of the Company's own
credit risk
5. Others
(II) Other comprehensive income to be reclassified to profit
21,506,594.75 (19,876,339.66)
or loss in subsequent periods
1. Other comprehensive income that can be transferred
to profit or loss under the equity method
2. Changes in fair value of other debt investments
3. Amount of financial assets reclassified into other
comprehensive income
4. Provision for credit impairment of other debt
investments
5. Cash flow hedge reserve
6. Exchange differences arising on conversion of
financial statements denominated in foreign 21,506,594.75 (19,876,339.66)
currencies
7. Others
Other comprehensive income attributable to minority
32,923,443.02 7,313,202.73
interests, net of tax
VII. Total Comprehensive Income 2,002,653,847.47 2,402,941,562.50
Total comprehensive income attributable to owners of the
1,832,761,982.78 2,263,878,992.07
parent company
Total comprehensive income attributable to minority
169,891,864.69 139,062,570.43
shareholders
VIII. Earnings per Share
(I) Basic earnings per share 0.196 0.247
(II) Diluted earnings per share 0.196 0.246
Legal Representative: Chen Zongnian Person in Charge of the Accounting work: Jin Yan
Person in Charge of Accounting Institution: Zhan Junhua
Hikvision 2023 Q1 Report
1.3 Consolidated Cash Flow Statement
Unit: RMB
Item 2023 Q1 2022 Q1
I. Cash Flows from Operating Activities:
Cash received from sale of goods or rendering of services 18,869,426,242.58 17,661,390,678.54
Receipts of tax refunds 845,422,057.10 742,166,152.62
Other cash receipts relating to operating activities 549,990,821.05 328,574,664.10
Sub-total of cash inflows from operating activities 20,264,839,120.73 18,732,131,495.26
Cash payments for goods purchased and services received 14,493,826,723.21 15,519,789,720.06
Cash paid to and on behalf of employees 6,122,808,771.33 5,377,995,779.80
Payments of various types of taxes 1,425,619,771.90 795,152,157.07
Other cash payments relating to operating activities 1,508,107,361.93 944,127,245.96
Sub-total of cash outflows from operating activities 23,550,362,628.37 22,637,064,902.89
Net Cash Flows from Operating Activities (3,285,523,507.64) (3,904,933,407.63)
II. Cash Flows from Investing Activities:
Cash receipts from recovery of investments 1,758,917,961.77 1,518,117,095.20
Cash receipts from investment income 2,013,946.91
Net cash receipts from disposals of fixed assets, intangible
2,023,878.10 7,178,824.87
assets and other long-term assets
Other cash receipts relating to investing activities 12,429,300.57 16,969,668.23
Sub-total of cash inflows from investing activities 1,773,371,140.44 1,544,279,535.21
Cash payments to acquire or construct fixed assets,
657,301,005.09 910,928,512.01
intangible assets and other long-term assets
Cash paid to acquire investments 1,830,866,341.05 1,428,479,756.32
Net Cash paid for obtaining subsidiaries and other business
43,992,651.78
units
Sub-total of cash outflows from investing activities 2,532,159,997.92 2,339,408,268.33
Net Cash Flows from Investing Activities (758,788,857.48) (795,128,733.12)
III. Cash Flows from financing Activities:
Cash receipts from capital contributions 1,020,000.00 2,893,831,394.55
Including: cash receipts from capital contributions
1,020,000.00
from minority owners of subsidiaries
Cash receipts from borrowings 3,677,681,322.07 1,537,700,961.53
Sub-total of cash inflows from financing activities 3,678,701,322.07 4,431,532,356.08
Cash repayments of borrowings 1,509,838,609.44 70,362,288.03
Cash payments for distribution of dividends or profits or
77,014,997.47 57,131,627.12
settlement of interest expenses
Other cash payments relating to financing activities 60,405,312.94 56,066,692.11
Sub-total of cash outflows from financing activities 1,647,258,919.85 183,560,607.26
Hikvision 2023 Q1 Report
Item 2023 Q1 2022 Q1
Net Cash Flows from Financing Activities 2,031,442,402.22 4,247,971,748.82
IV. Effect of Foreign Exchange rate changes on Cash and
(27,970,602.35) (34,758,212.24)
Cash Equivalents
V. Net increase in Cash and Cash Equivalents (2,040,840,565.25) (486,848,604.17)
Add: Opening balance of Cash and Cash Equivalents 39,815,390,514.57 34,603,944,429.20
VI. Closing Balance of Cash and Cash Equivalents 37,774,549,949.32 34,117,095,825.03
Legal Representative: Chen Zongnian Person in Charge of the Accounting work: Jin Yan
Person in Charge of Accounting Institution: Zhan Junhua
2. Audit Report
Whether audit has been performed on this 2023 1st Quarter Report
□ Yes √ No
The Company’s 2023 1st Quarter report has not been audited
HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD.
Board of Directors
April 15, 2023
Note:
This document is a translated version of the Chinese version 2023 1st Quarter Report (“2023 年第一季度报告”),
and the published announcements in the Chinese version shall prevail. The complete published Chinese 2023 1st
Quarter Report may be obtained at www.cninfo.com.cn.
