海康威视：2025年年度报告（英文版）

2025AnnualReport April18,2026 To Shareholders Since its establishment, the management of Hikvision hasbeen continuously introspecting:Arewe doing the right thing? Are we on the right track? Are wekeepingpace with the changing times,adhering to technological innovation, maintaining the entrepreneurial spirit, and prudentlymanagingrisks? The domesticand international environment is undergoing significant changes and adjustments,and theCompany's operational focus has gradually shifted from pursuing revenue growth toimproving operational quality. After nearly a decade of expansion, theCompany has completed itsbusiness layout in the AIoT field and has achievedinitialresults.Inthe next three to five years, theCompany will further strengthen and solidify its existing AIoT business.In2025, theCompanyformulatedcorresponding strategies for eachproduct line and business, optimizedinternal operationalmechanisms and resource allocation, and improvedbusiness performance; in 2026, theCompany willfurther refine various business strategies, deepen institutional reforms, optimize resource allocation,and continuously improve operational quality through more stable business management, creatinglong-term value for shareholders. Artificial intelligence has become the core driving force of a new round of technologicalrevolution and industrial transformation.Large-scale AI models are promoting the Company'sproduct technology innovation and operational quality improvement at an unprecedented speed anddepth. Technological innovation has always been the driving force for Hikvision's development, andlarge-scaleAImodel technology is being deeply integrated into theCompany's products. Over the past 20 years, theCompany has been continuously investing in intelligent technologies,keeping up with the development of intelligent technologies from pattern recognition, video contentanalysis (VCA), deep learning, knowledge graphs to large-scalemodels. In the past 5 years, theCompany has gradually focused on multimodal IoT perception large model technologies, developingthe Guanlan large-scaleAI models products, and embracing large-scale AI models in productstrategies. In 2025, in the security business and scenario-baseddigitalization business, theCompanylaunchedhundreds of large-scale Aimodel products, covering front-end products, back-end products, and cloud center productsacross various or combined spectral bands includingvisible light, X-ray,millimeter-wave radar,andinfrared. These products have already gained widespread recognition fromnumerous users.This year, the Company will further enrich its portfolio of large-scale AI modelproducts and intensify marketing efforts to achieve excellent business performance. The rapid development of large-scale AImodel technology will have a profound impact onCompany operations. Over the past5years, we have gone through a process of initial exploration andgradual introduction of AI technology in various process-driven operational activities such as R&D,supply chain, marketing, and service, effectively improving theCompany's operational efficiencyandcapabilities. In 2025, theCompany won the Fifth "China Quality Award" with its "Digital andIntelligent Quality" management model, and the "Mass Customization Smart Factory for IoT SensingProducts"the Companybuiltwas selected by the Ministry of Industry and Information Technologyinto the "2025 Leading Smart Factory Cultivation List." Internationalization remains an important engine driving theCompany's development andgrowth. In the face of numerous challenges, theCompany'smainbusiness and eight innovativebusinesses continue to adhere to the path of internationalization and expand international operations.We will persist with a "one country, one strategy" approach, and overseas revenue continues to growsteadily. In a volatile internationalenvironment, theCompany will be very cautious in responding tovarious risks and will make the "one country, one strategy" approach even more refined. TheCompany will continuously enhance product competitiveness in the global market,improvemarketing and operational capabilities, and further improve performance. In 2015, theCompany established an internalinnovative business co-investment system. Theeight innovative business companies that were subsequently established have gradually overcome themostdifficult entrepreneurial period. They have gradually taken root and grown in the domestic andinternational target markets they have identified and have achieved a certain scale, with profitabilityimproving comprehensively. These businesses, together with the main business, are now fullyembracing large-scaleAI models. TheCompany's management teamunderstandsthat maintaining an entrepreneurial spirit in thelong term and integrating it into various business and management activities has always been thegreatestchallenge.The year of2026 marks the 25th anniversary of Hikvision's founding, and the Companyis committed to delivering