1、 Hangzhou Hikvision Digital Technology Co.,Ltd.2024 Annual Report April 19,2025 Hikvision 2024 Annual Report 1 To Shareholders In response to the complicated and dynamic business climate in 2024,the Company tapped into the potential of the Chinese security market and more actively expanded its secur
2、ity business overseas,while remaining committed to scenario-based digitization and innovative businesses.In 2024,the combined revenue of our overseas main businesses and innovative businesses surpassed the revenue of our domestic main businesses,that is,the total revenue of three businesses groups-P
3、BG,EBG and SMBG-for the first time in our history.The Company is determined to bolster its investment in R&D.Seeing the rise of large AI models,we actively expand the development of AIoT-powered large multimodal model technology.It is our business tenet to identify target markets,align with the adva
4、ncement of cutting-edge technology,and incorporate new technologies into software and hardware products.The Company will keep growing its product lines and increasing application scenarios based on its persistent efforts to develop sensing technologies utilizing full electromagnetic waves,mechanical
5、 waves,and multi-band fusion.Since 2018,the Company has maintained a steady increase in R&D investment,actively responding to the continuously deteriorating global operating environment through technological innovation.The Company will readily adapt itself to the times.In the years to come,we will s
6、hift our focus from faster expansion to higher efficiency,ensuring strong performance for all existing businesses.Moreover,the Company plans to modify its operating mechanism and optimize its organizational structure to better adapt to changes in the external business environment,while leveraging di