Chinese surveillance company, Hikvision, has released its annual performance report for the year 2022. The report shows a year-on-year decrease in net profit, despite an increase in total operating income.
Total Operating Income Increase
Hikvision's total operating income in 2022 was 83.174 billion yuan, an increase of 2.15% over the same period of the previous year. However, in terms of profit, the company's operating profit in 2022 was 14.809 billion yuan, a year-on-year decrease of 19.84%.
Year-on-Year Decrease in Profit
The total profit for Hikvision in 2022 was 14.881 billion yuan, a year-on-year decrease of 19.42%. The net profit attributable to shareholders of listed companies was 12.827 billion yuan, a year-on-year decrease of 23.65%. Net profit attributable to shareholders of listed companies after deducting non-recurring gains and losses was 12.324 billion yuan, a year-on-year decrease of 25.06%.
Increase in Total Assets and Owner's Equity
Hikvision's total assets in 2022 were 119.327 billion yuan, a year-on-year increase of 14.89%. The owner's equity attributable to shareholders of listed companies was 68.362 billion yuan, a year-on-year increase of 7.72%. Basic earnings per share were 1.369 yuan.
Background of Hikvision
Hikvision was formally established in 2001 and began to deploy Internet C-end services in 2013. The company has faced criticism from some western countries over concerns about its links to the Chinese government and its involvement in human rights abuses in China's Xinjiang province.
Subsidiary EZVIZ Networks' Total Market Value
Hikvision's subsidiary, EZVIZ Networks, was officially listed in December last year. Its current total market value has reached 20.295 billion yuan.
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