Dahua Posts Slowing But Strong Revenue Growth 2018

By: Charles Rollet, Published on Mar 04, 2019

Despite significant job cuts in China, Dahua's revenues grew more than 25% last year hitting a total of ~$3.5 billion USD, according to its latest annual report. In this post, we analyze Dahua’s financials, including:

Revenue/Profits Analysis
Hikvision and Axis Comparison
Job Cuts Questions
2019 Outlook

****************** *** **** ** China, *****'* ******** **** more **** **% **** year ******* * ***** of ~$*.* ******* ***, according ** *** ****** annual ******. ** **** post, ** ******* *****’* financials, *********:

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********* *** **** **********
*** **** *********
**** *******

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Solid ******* ******

** ****, ***** ********* ~$3.5 ******* (**.* ******* RMB) ***** (** ******* exchange *****). **** *********** an ****** ******** ** 25.6% - ****** ******* for *** ********. *****, that ****** *** ***** than ** ****** *****, though ************ **** ****** compared ** *********:

**** [**** ** ****** available]: **.*%
****: **.*%
****: **.*%
****: **.*%

******** ***** *** *** provide *** *******/*********** ** the ***** ******, ** is ****** *** ** a **** ******* ** factors, **** ********* ********** **** **********, *** ************** ******** ********,**-***** ***** *** *******, ****** **** ***.

Profit ****** ***** *** ******

*****’* *** ******* **** much ****** **** *******, at *.**% ** **** to $*** ******* (*.* billion ***). *** ****** growth *** ************* ***** than ** *** ****, however, ****** *** ****:

**** **: **.*%
**** ****: **.*%
****: **.*%
****: **.*%
****: **.*%
****: *%

Net ****** ******* **********

*** ****** ****** **** sudden ******** ** *** profits ****** ** *******. Dahua's **** *** ****** margin *** **.*%, ********** a ******** ***** **** the **** * *****:

****: **.*%
****: **.*%
****: **.*%
****: **.*%

Hikvision *** **** **********

********* ******* *** ******** video ************ ************, *********** ******* $* *********** **** ******** ** Dahua’s $*.* *******.

*******, ***** ******** ********* in ***** ** ******* growth, ************* ******* **.*%******** ** *****'* **.*%. Dahua's ****** **** ******** Axis', ***** *** ***** *** **.*% ** 2018,******* ** ** ****' growth (**%) ******** *****'* significantly (**.*%).

Job **** ********

***** ***** **** *********** job ************. *** ** ** highly ******** *** * company **** **% ******, almost **** * ******* dollars' ******** ******, *** solid ******* ** ******* what *** ******* ******** user******'******* *******' *** **** many ******* ******* ** IPVM ********. ********, ***** nor *** ********* **** never ****** *** **** were ****, ******** ** publicly ** *******.

**** **** *** **** any ****** *********** ** explain **** **********. ******* media *** *** ******* the *******, ******** **** noted "********" ** "******** markets" ************ *****'* **** ******. This ********** *** ******* further ******** *** *****, potentially ********** *** ****'* impressive ******** **** ******* weaknesses **** *** ******** undisclosed.

**'* **** ***** ****** that**** ******* **** ********* **** ******* ** recent ******. *** *******, e-commerce ********** ***** ********** ** **%************** **.*% ********** ****. **** *** indicate ******* ********** ********** in ***** **** (**** market **********) **** ***** is **** **********.

2019 *******

*** ** ***, **** though *****'* ******* ****** was ***********/****** **** ***** competitors, ** ***** *********** uncertainties ** ****:

*** ****** ** ********** ******** ********
******* ** **** ************ ** *** ** government**** ******* ******** ***********
*** **** ** *** massive $*** ******* ********** surveillance ******* ** ********, which ******* ** **** (** ***** ********* ** Q3 ****) *** ** ****** ********** **** *********
******* ***** **** **** business ** ******, ********** ** ****** * 'top *' ***** ************ provider ** ********* ***** ******, a ******** ****'* **** similar ** *****'* ******** ** ****' ********
******* *** *** **** will ******** *** **** impact **** **** ** quality/support

** *** ******** ****, though *****'* ***** ** still **** ****** **% over *** **** ****, in *** **** *****, the ***** *** ********* from *** ****** ***** by ****** **% ****** increasing ******* ********** ** a ********* ***** **** and ********* ******* ******* from *** ******* **********:

Comments (2)

Undisclosed Manufacturer #1

03/06/19 03:52pm

***** ** *** ******** link ** *** ************!?

Charles Rollet

In reply to Undisclosed Manufacturer #1 | 03/06/19 04:30pm

****'* * ****** * *** ** their **** ****** ** English. ***** **** **** a****** ************ ** *******.

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