证券代码：002415 证券简称：海康威视 公告编号：2024-062 号 杭州海康威视数字技术股份有限公司 关于召开 2024 年第二次临时股东大会的通知 （2）网络投票时间：2024 年 12 月 25 日。其中，通过深圳证券交易所交易 系统进行网络投票的时间为 2024 年 12 月 25 日的交易时间，即 9:15-9:25，9:30- 11:30，13:00-15:00；通过深圳证券交易所互联网投票系统的投票时间为 2024 年 12 月 25 日上午 9:15 至下午 15:00 期间的任意时间。 5、会议的召开方式：本次股东大会采用现场表决与网络投票相结合的方式 召开。 公司将通过深交所交易系统和互联网投票系统向全体股东提供网络形式的 投票平台，股东可以在网络投票时间内通过上述系统行使表决权。 1、股东大会届次：2024 年第二次临时股东大会 2、股东大会的召集人：公司董事会。 公司召开本次股东大会的议案已经第六届董事会第四次会议审议通过。 3、会议召开的合法、合理性：本次股东大会会议召开符合有关法律、行政 法规、规范性文件和公司章程的规定。 4、会议召开的日期、时间： （1）现场会议时间：20 ...

Investment Rating - The investment rating for the company is "Buy" with a maintained rating [1]. Core Views - The demand for digital scenarios is emerging, significantly expanding the business boundaries. The company's core positioning is in AIoT, with the first growth curve being the security business and the second growth curve being scenario digitization. The average annual investment in digital transformation across various industries is 2-10 times that of security investments [1][6]. - The company is enhancing its supply capacity through technological layout, flexible production methods, and deep market channels to respond to the digital transformation needs of various industries. A recent example is the launch of a rapid coal quality analysis instrument, which is expected to generate significant revenue and has a market potential of several billion yuan in the coming years [1][6]. - The demand side is expected to show cyclical recovery, with cost reduction and efficiency improvement leading to performance elasticity. The company anticipates revenue growth in the coming years, with projected revenues of 938.7 billion, 1,048.0 billion, and 1,185.7 billion yuan for 2024, 2025, and 2026 respectively, reflecting year-on-year growth rates of 5.1%, 11.6%, and 13.1% [1][6]. Summary by Sections Business Overview - The company focuses on AIoT, with significant investments in digital transformation across various sectors, indicating a strong market demand [1][6]. - The company has developed various digital transformation products leveraging its expertise in AI and big data, including a coal quality analysis instrument that is expected to generate over 100 million yuan in revenue this year [1][6]. Financial Projections - The company has adjusted its revenue forecasts for 2024-2026 to 938.7 billion, 1,048.0 billion, and 1,185.7 billion yuan, with corresponding net profits of 132.1 billion, 161.4 billion, and 192.9 billion yuan, reflecting growth rates of -6.40%, 22.24%, and 19.53% respectively [1][6]. - The projected price-to-earnings ratios for the next three years are 21.4X, 17.5X, and 14.7X [1][6].

以下文章来源于智谷趋势Trend ，作者知远 智谷趋势Trend . 新中产的首席财富顾问 替代大潮。 作者 | 知远 来源 | 智谷趋势Trend （ID：yuanfangguanchaju） 一场全球科技大厂裁员潮，正汹涌而来—— 4月特斯拉宣布全球裁员超10%，按去年总人数来算，也最少有1 . 4万人要被裁； 8月英特尔宣布全球裁员1 . 5万人，相当于总员工的15%，并要求在年底前完成； 紧接着戴尔被爆两年裁了2 .55万人，通讯大厂思科、诺基亚传出裁员2 0 0 0人、8 0 0 0人， 国内的AI领域头部玩家海康威视、商汤科技也传出裁员数千人的消息…… 据裁员追踪机构 La y o ffs.f yi提供的数据，截至12月2日，2024年全球科技公司至少裁员 了14.9万人。 除开经济环境影响外，还有一个令人忽视的因素，就是老板们，找到了更好的"牛 马"—— AI。 Li nke dI n最新数据显示，工资六位数的就业市场正面临"白领衰退"潮： IT 招聘人数下降了 27% 质量保证职位下降了 3 2% 产品管理下降了 2 3% 项目管理下降了 2 5% 曾经被认为最抗衰退的工程师职位也下降了 26 ...

Investment Rating - The report maintains a "Buy" rating for Hikvision (002415) [8][41]. Core Insights - Hikvision is transitioning to an AI and full-sensing solution provider, with a potential tenfold market expansion driven by digitalization across various sectors [8][14]. - The company has established benchmark cases in energy, industry, and agriculture, showcasing its competitive edge through horizontal and vertical scale effects [8][16]. - The AI+ coal quality rapid testing project is expected to generate significant revenue, with projections of tens of billions in market space [8][19]. - The company is well-prepared with AI models and multi-dimensional sensing hardware to capture diverse market demands [10][30]. Financial Summary - Revenue projections for 2024, 2025, and 2026 are estimated at 945 billion, 1084 billion, and 1235 billion respectively, with net profits of 136 billion, 171 billion, and 201 billion [11][41]. - The company’s gross margin is expected to remain stable around 44% over the forecast period [11][41]. - The return on equity (ROE) is projected to improve from 10.6% in 2024 to 20.6% in 2026 [11][41]. Market Position and Strategy - Hikvision's strategy focuses on expanding beyond traditional security into digital transformation markets, which are projected to offer tenfold growth opportunities [23][39]. - The company has successfully transitioned from pure security products to integrated digital solutions, enhancing customer value across various industries [21][39]. - The AI+ full-sensing strategy is expected to significantly enhance the company's revenue potential as it captures fragmented market demands [10][30].

Group 1: Company Overview and Market Position - Hikvision has a significant market share in the security sector, with approximately 20% in overseas markets and 40% in domestic markets, indicating substantial growth potential in international markets [6]. - The company’s overseas business is primarily divided into channel (70-80%) and project (20-30%) types, with developing countries accounting for about 70% of overseas operations [6]. Group 2: Product Innovations and Digital Transformation - Hikvision recently launched a fusion spectrum coal quality rapid analyzer, which can analyze key indicators of coal quality in just 2 minutes, enhancing efficiency across the coal supply chain [5]. - The market potential for the coal quality rapid testing project is estimated to reach several billion yuan in the coming years, showcasing the company's commitment to digital transformation [5]. Group 3: Future Growth and Strategic Focus - The company anticipates that its digital transformation products will generate significant revenue, with projections of over 100 million yuan from the coal quality rapid testing product by 2024 [6]. - Hikvision is focusing on balancing personalized customer needs with standardized production processes to enhance efficiency and maintain competitive advantage [6]. Group 4: AI Integration and Technological Advancements - AI is a core capability for Hikvision, enhancing the functionality of various hardware products and expanding their application scenarios [8]. - The company employs a unique approach to AI training, utilizing high-quality, application-specific data to optimize algorithms for specific industry needs [8].

证券代码：002415 证券简称：海康威视 公告编号：2024-059 号 杭州海康威视数字技术股份有限公司 关于为子公司提供担保的进展公告 2024 年 11 月 22 日，公司控股子公司杭州海康机器人股份有限公司为其全 资子公司 Hikrobot Europe B.V.在汇丰银行（中国）有限公司杭州分行办理额度不 超过 24,977.60 欧元的保函业务提供连带责任保证，保函到期日为 2025 年 8 月 1 日。上述保函所担保的业务范围、期限、费用等内容以相关法律文书或凭证为准。 上述担保在公司股东大会审议通过的担保额度范围内。 三、累计对外担保及逾期担保的数量 截至目前，公司及控股子公司实际担保余额为 394,808.44 万元，占公司 2023 年末经审计净资产的 5.17%，全部为对合并报表范围内子公司的担保。 公司及控股子公司不存在其他对外担保事项，不存在逾期对外担保、涉及诉 讼的对外担保及因担保被判决败诉而应承担损失的情形。 特此公告。 杭州海康威视数字技术股份有限公司 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、担保情况概述 杭州海康 ...

Investment Rating - The report maintains a "Buy" rating for the company [1] Core Insights - The company reported a revenue of 649.91 billion yuan for the first three quarters of 2024, representing a year-on-year increase of 6.06%. However, the net profit attributable to shareholders decreased by 8.40% to 81.08 billion yuan [3] - The gross margin remained stable at 44.76% for the first three quarters of 2024, with a slight decrease to 44.25% in Q3 2024. The profit was impacted by foreign exchange losses amounting to approximately 210 million yuan for the first three quarters [3][4] - The company is focusing on the synergy between security business and scenario digitalization, leveraging multi-dimensional perception, artificial intelligence, and big data to enhance efficiency and reduce costs for enterprises and government [5] Financial Forecasts - The company’s projected net profit for 2024-2026 is 141.09 billion, 164.60 billion, and 196.11 billion yuan respectively, with corresponding PE ratios of 20.3, 17.4, and 14.6 times based on the closing price on November 4, 2024 [1][7] - The expected revenue growth rates for 2024, 2025, and 2026 are 7.5%, 12.1%, and 13.9% respectively, while the net profit growth rates are projected at 0.0%, 16.7%, and 19.1% [7][8]

证券代码：002415 证券简称：海康威视 公告编号：2024-058 号 杭州海康威视数字技术股份有限公司 关于为子公司提供担保的进展公告 合同项下业务履行期限届满之日起三年。相关合同所担保的业务范围、期限、费 用等内容以相关法律文书或凭证为准。 上述担保在公司股东大会审议通过的担保额度范围内。 三、累计对外担保及逾期担保的数量 截至本公告披露日，公司及控股子公司实际担保余额为 386,264.18 万元，占 公司 2023 年末经审计净资产的 5.06%，全部为对合并报表范围内子公司的担保。 公司及控股子公司不存在其他对外担保事项，不存在逾期对外担保、涉及诉 讼的对外担保及因担保被判决败诉而应承担损失的情形。 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 一、担保情况概述 杭州海康威视数字技术股份有限公司（以下简称"海康威视"或"公司"） 于 2024 年 4 月 18 日召开第五届董事会第二十次会议，审议通过了《关于为子公 司提供担保的议案》，同意公司及控股子公司为其下属全资或控股子公司提供不 超过 166.75 亿元人民币的担保额度。上述事项于 20 ...

Investment Rating - The report maintains a "Buy" rating for Hikvision, expecting the stock price to outperform the industry index by over 15% in the next six months [10]. Core Views - The report highlights that the PBG revenue growth has turned positive, supported by government funding in sectors such as water conservancy and disaster management. This improvement in funding is expected to enhance business flexibility [2][3]. - Despite a challenging domestic and international environment impacting revenue growth, the company has managed to stabilize its cost structure, with a gross margin of 44.51% in Q3 2024 [2][3]. - The report projects revenue and net profit growth for the years 2024 to 2026, estimating revenues of 98 billion, 107.9 billion, and 119.3 billion respectively, with net profits of 14.5 billion, 16.8 billion, and 19.7 billion [3]. Financial Summary - For 2024, the expected operating revenue is 98,024 million, with a year-over-year growth rate of 9.7%. The net profit attributable to the parent company is projected at 14,503 million, reflecting a 2.8% increase year-over-year [1]. - The report indicates a stable cost structure, with operating expenses growing at a slower pace and personnel size remaining stable [2]. - The company's financial metrics show a projected EPS of 1.57 for 2024, with a P/E ratio of 18.4 and a P/B ratio of 3.2 [1][3].

Investment Rating - The report maintains a "Buy" rating for Hikvision with a target price of 35 CNY [6][4]. Core Insights - Hikvision's Q3 2024 revenue reached 23.78 billion CNY, a year-on-year increase of 0.3%, while net profit attributable to shareholders was 3 billion CNY, down 13.4% year-on-year. For the first three quarters of 2024, total revenue was 64.99 billion CNY, up 6.1% year-on-year, with a net profit of 8.1 billion CNY, down 8.4% year-on-year [1][4]. - The company clarified recent adjustments in its regional R&D structure and announced changes in key management positions during its earnings call on October 26. The report suggests that these organizational changes could help the company adapt to new opportunities and challenges in the market [1][2]. - The report emphasizes the importance of monitoring the effectiveness of the organizational adjustments and the turning point in domestic fixed asset investment cycles [2][3]. Summary by Sections Financial Performance - Q3 2024 revenue was 23.78 billion CNY, with a slight increase of 0.3% year-on-year. The net profit for the same period was 3 billion CNY, reflecting a decline of 13.4% year-on-year. Cumulatively, for Q1-Q3 2024, revenue was 64.99 billion CNY, up 6.1% year-on-year, while net profit was 8.1 billion CNY, down 8.4% year-on-year [1][4]. - The report projects a revenue of 94.4 billion CNY for 2024, with a year-on-year growth of 5.67%, and a net profit of 13.19 billion CNY, reflecting a decrease of 6.52% compared to 2023 [5][4]. Business Segments - The PBG (Public Business Group) segment is expected to generate 14.82 billion CNY in 2024, down 22.7% from 2021 due to reduced capital expenditures by local governments. However, government support for infrastructure projects may signal a potential recovery [2][3]. - The EBG (Enterprise Business Group) showed slight growth, while the SMBG (Small and Medium Business Group) faced significant declines due to inventory adjustments with distributors [3][4]. Market Outlook - The report highlights the need to observe when government investments may reach a turning point and the effectiveness of the company's strategic adjustments in response to market conditions [2][3]. - The overall market sentiment remains cautious, with domestic demand showing weakness and investment confidence needing improvement [3][4].