Dahua H1 2021 Results Examined

By Isabella Cheng, Published Sep 01, 2021, 08:33am EDT (Info+)

Dahua posted strong ~37% H1 2021 revenue growth, rebounding from 2020, when sales declined slightly as the pandemic progressed .

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In this report, we examine Dahua's H1 2021 financials, including:

  • H1 2021 revenue
  • Domestic v. Overseas revenue
  • Gross margins change
  • Domestic growth
  • Dahua's "innovative business"
  • Software development updates
  • Stock performance

********'* ** **** ********* ****** (******* only).

Executive *******

******** ****** *** ******, **** ***** approaching ******* ******* ****** *** ******* of *****. *** ******* ********* **% sales ****** *** ** **** ** ~$2 ******* ***, ********** **** *** pandemic-hobbled ****. ******** ******** *** ******** significantly **** *** **** *** *****, accounting *** **% ** ***** *******, in ********** ** **** **** **% for ***** *********.

***** *** *** ******* **** ******** regions **** **** ******* ****** *** did *** ******* ** ** ********** actions.

********, ***** ******* ******* ************ (~** percentage ******) ** *** ***** ****** rush *****.

Revenue *********, ******** ******-****

*****'* ** **** ******* *** ~$* billion ***, ** ~**% ***. *******, profits **** ***, ** ~**% ***.

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**** ********* **** ********* **** * bounce-back ** ** **** ********* * dip ** ******** *** ** *** pandemic * **** ***. *** *******,*********'* ** **** ******* **** **%.

Continuous ******** *********

*****'* ******** ******** *** ******** ************* over *** **** * ***** *** into ** ****, **** ~**% ** revenue, ** ~$*** ******* ***, ********** to ******** *****. ******* **** ******** grew **% ***, ****** **** *****'* domestic ********, ***** **** **% ***.

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** ** ****, ******** ******* **** accounted *** ~*/* ** *****'* ******* revenue. *******, ** ** ****, *** same ****** ****** ** ~**% ** overall *******.

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***** ****** ***** ******** *********** ** this **** ******* ** **** *** 2019. *******, ***** *** ********* ** grow *** ******** ******** **** ***** fever ****** ***** **** ****.

***** ** ***** ** ******* ********* its ******* ****** *** ******* ** China. ** *** ***** ****, ********** Hikvision ** ***** **** *****-*******, **** ~3/4 ** ******* ****** **** ***** and **** ~*/* ********.

Specific ******** ******** ****** *******, ** ******** ***** **

***** *** *** ******* ***** ** was ****** *** ********* ******** ******, nor *** ** ***** ** *** about ********** ** *** **, ************ *** ****** ******* ***** *** Hikvision. ** ************* ***** ****** ************ ** ******** how **** ** ******** ******** *** overall, ****** ******* **** "***** *** been ******* *** **** **** * years." ***** *********:

*** ******* *** **** ****** ******* overseas *** **** *****, ******** ****** 180 ********* *** *******, *** *** built * ****** ********* *** ******* network. *** ******** ****** ** *********, and *** ********** ** * ****** country ** ***. ** *** **** time, *** ******* ** ***** ******** exploring ******** *******, *** ******* ******* and ******** ********* ************ *** ***** methods, ****** ** ******** *** ********* and ********** ** *** ********.

**** ********* *****'* ** ******* ** a ******-***** ********** ** ******* *******.

Gross ******* **** *************, ********** ********

***** ******* **** *.**% ******** ** last ****, ***** *********:

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******** ***** ******* **** **** **** more (-**.*%) ******** ** ************ (*.**%):

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********* ** *** ** ******** *** **** ***** ******* **** "disturbed" ** ***** *******:

** ****, *** *******'* ***** ****** was ********* ** ******** ******* ******* products. *** *******'* ***** ****** ** the ***** **** ** ****, **, and ** ******** **** ****, ** up. **** ****'* ***** ****** ***** has ******** ******* ********* **, ********* product ***, *********, *** ******* ********.

** **** ******* **** ****,*********(********) ***** *** ***** ******* ****** margins ************* ****** *** ********'* ******, particularly ********.

Domestic ****** ****** ** ** * (********) ******

~**% ** *****'* ******** ******* ***** from *** "** * (********)" *****, ~$553 ******* ***. *****'* "** * (government)" ***** *** ********* ** * proportion ** ******* *****:

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***** ********* *** "** *" ******** has **** ****** ******* *********** ****** digital **************:

** *** **** *** *****, ********** since **** ****'* ********** **** *******, we *** **** ** *** *-**** segment, **** ********** **** ********** **** growth *** **** **** * *******. This ***** *** ********** ** ***********' demand *** ******* **************. ** ******* deeper **** *** ***** ** ********* in ********** *** **********, *** ******* has *** ******** ****** ** ******** solutions *** *** ***** ********** ******.

“Innovative ********" ***** **%, ******** **** ****** ****

*****'* "********** ********" **** **** **% last **** ** ~$*** ******* ***. This *********** * **** ***** ** products, ********* ******* ****** (*******), ***** ************, ********/*** ******** (****), ******, *** ********** ***********.

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******** "********** ********" ****** ******* ** revenue, ** ** ***** * ********** small ******* ** *****'* ******* *******, just ~*%, ******** ** *** ********* (e.g. *******) **** **** ** **** 85% ** *****'* *******. *****, "********** business" ** ******* ******* *** ***** signaled ** ** ** ******** **** the ******* ***** *********:

** **** *** **** ********* ** the **** ********, ***** ********** ******** growth ******** ** **** ****. *** innovative ******** ** * ***** ** closely ******* ** *** ***** ******** field ** *** ***** *** *** make **** *** ** *** ****** company's ****** ******** ** **** ***** areas *** ********** *********** ** **** tracks.The ******** ** *** ******* **** ******** ***** ********** ** *** *********** ** ********** ******** ************, and every 2 weeks will comb through all subsidiary businesses to observe the situation in the technical field and market resources. We believe that in the future, our innovation business will continue to grow at a high rate in these highly prosperous tracks. [emphasis added]

Software *********** *******

***** ******* ** ****, ** **** make ~$*** ******* *** ******** **** "pure ********" ******* *****. ** **** was *** ***** **** ***** ***** out *** ******** ******** (~$** ******* USD *** *** ****-****).

********* **** ******* ***** *****'* ******** development, **** ***** ********* **** ** has **** * "*** *******" ** what *** ******* *** **** ***** in *** ** *** ******** *****:

** ****** *****, *** ** **** external *******, *** ******* *** **** a *** ******* ** *** *********** of ** *** ******** ************. *******, not ****** ** **** *** **** that ** ** *** *** ********* to **, *** ** **** *** mean **** ** ** *** **** action.

*******, ** *** ** ****, ***** gave ********* * "******** ****" *** the *******'* ******** ************ ** ********** a ****** ******** **** ***** *** a ******** ****, ********* ***,***+ ***** channels:

***** ****** * ***** ******** ****, for *******, ** ******* ******** ***** networking, ************ *** ****** **** ***** integrated *********** ********. *** ******** ******** of ***,*** ***** ********, ***,*** ***** equipment ********, ****** **,*** ******** ** other ***** ** *********, ********** ** millions ** ******** ** **** ******* hardware ********* ********* ** * ****** platform. **** ******** ***** **** *** company *** *********** * ***** ******** application ******, ***** ******** ****** ********* architecture, ********* *****, *** ******** ********* support ** *** **** ***. ******* the *********** ** **** ****, ***** has ************ *** ****** **** ******** in *** ******* ********.

*** ******* **** ** ***** **** more ****** ******* ** *** ******** developments ****** *******:

** *** ******** *********** *******, ** will *********** **** ******** *** *******'* development ** ********** ************, ********, *** data, *** ***** ********* ************.

Stock ***** ******

*****'* ***** ***** *** **** ****** over *** **** *** ****, *********** within *%:

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Comments (1)

******* **** ******** **** **% ***

******* ***********,***** ****** ******** **** *** ** 2021 ****** ******** **** ** ***%**** ** ****.

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