Hikvision Ezviz Spinout, IPO Filing and Financials Examined

By Isabella Cheng, Published Dec 30, 2021, 10:02am EST (Research)

*****, *********'* ******** *****, ** ***** spun ***, **** ***** ****** ***** for ** ***, ******* ** ***** ~$575 ******* ***, * ***** ****** but ** **** **** ******* *********** ****** ** *** **** year ** *** ******** ********.

IPVM Image

** **** ****, ** ******* *** firm's ********** *** ******, ***** ** its ***-**** ****** ** *** ******** STAR ******, *********:

  • ******* ****** ****-** ****
  • ********* ********
  • *** *** ***** ****** ******* *****
  • ******** *. ******** *******
  • ****** ** ******** ****
  • ***** ************ ******** *************
  • ******* ********* ********
  • *** ** ********* *****
  • *** ********* ************* ********
  • *********** *********
  • *** ************* *****

Executive *******

*****, *********** ** **** ** * subsidiary ** ********* ******** ** ******** products, ******** * **** ******* ** ~$474 ******* ***, ** **% ***. Its *** ****** ******* *** ****** ~10% **** *** **** * *****.

**** *** (*** ***+ **** ***** ******) ***** ** ***** ~$*** ******* USD, ~**% *** ** ***** ** the ************ ** * *** ************* facility ** *********.

*****'* **** ******** ** ***** ****** China, ** ******** ******** *** **** ~16% ** *** ******* (~$*** ******* USD) ********. ******, ***** ** *** a ***** ********** ** *** ******** space ** ***** ******* ** ******.

***** **** *** *** **** *** claims ***** ********* ****** **************, ** would ****** * ********* ******* $* and * ******* ***, ***** *********'* current ** *****-**-***** ***** *** *** fact **** ***** *** * ****** revenue ****** **** **** *********.

Revenue ****** ****-** ****

***** ******** ~$*** ******* *** ** revenue *** ** ****. ******** ***** did *** ******** ** **** *******, annual ******* *** **** *** ~$*** million ***.

IPVM Image

******* **** ~**% *** **** **** to ****, *** ~**% *** **** 2019 ** ****. ***** *** *** project **** **** ****** ******* **** be.

IPVM Image

Estimated *********: $*-* ******* ***

** ******** *****'* ********* ** ** the $*-* ******* *** *****. ********* currently *** * ~** ***** ** sales *****, *** ** ****** ***** to ** ***** ***** ****. *******, Ezviz ***** ** ****** ****** ******* it ** * ******* *** ******-****** company.

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

*****'* *** ******* **** ****** **** the **** * *****, ******** ******* between *-**%.

IPVM Image

**** *** ******* *** **** *** unusually ****** *** **** ****** *******, though ***** *** **** * ******* of *********, * *** ****** *******, that ***** ** ** ********* ******* smaller, *********** *********.

Gross ******* ********** ****

***** ******* *** ********** **** *** consumer ********. *****'* ***** ******* *** a ***** ****** ** ~**% ** H1 **** ******** ** ****'* *** v3 ** **** ~*% *******.

IPVM Image

******** ** ** ******** ********* **** Arlo *** ****, ***** ******* *** higher. ************ **% ***** ******* ** ****, ********* ******** **% ***** *******.

******** ****-**% ***** ******* **** *****, * ********** ** *** ******** market ***** ** ********, ***** ***** margins *** ******, ***** ** ****** helped ** ***** ***** ** ****** manufacturer ****** **** * **********.

*******,*********'* ****** ** **** ***** ******* were ~**%, ************* ******. **** ********* ** gross ******* ******** *** *************** ** the ******** ************ ******.

Domestic *. ******** *********

**** **% ** *****'* ******* ***** from ****** *****, ******** ***** *** expanded *** ******** ******** **** *** last * *****.IPVM Image

** ****, **** **% ** ******* was ********. ***** ** ** ***** to ** ~$*** ******* *** ** revenue ******** ** ****, **** *********. However, ***** *** *** ******** ***** countries ******* ** ***** *** *** biggest *********.

IPVM Image

US ******** ****** ** ****

***** *** ** **** * ****** presence ** *** **, ****** ************* weak ******** ** ****, ****, ****, Wyze, ***. ******* **** ** ****, Hikvision ************ ********* ** ****** ** the ****** ****** ****** ** ********* and ***** *********** * *********** ******** even ****** ******* ******** ** ********* rose.

*****'* ********* ** *** **, *** likely ** **** ******** *******, ** that ***-**** ******** ************ ******* *** plentiful. ****** ** *** ************ ******, where ********* *** **** ** ******* low-cost **** **** ******** ** ******* sales *** *********, ** *** ******** space, ******* ********* *** **** **** driven ** *** **** (**** ********* like **** **** *** **** ********* than *****) *** ** ****** ******** brand (********* **** *****/********* *** *** achieved ** *** **).

Number ** ******** ****

********, ***** ******* ******* **+ ******* units ** ***** ******** ** ****, according ** *** **********. ***** **% of ***** ******* ** ** **** came **** *******, ********** ** ********** trend ** ******* ****** ** **** of ***** ******* ***** ***** ********* to ******* ***-****** ***** **** ***** (vacuums, *********, ***********, ***.).

IPVM Image

Cloud ************ ******** ************* *** ****** ********

** ******** ***** **** ** ~$** million *** ** ***** ************ ******** this ****.

***** ****** ********* *** ****** ** subscribe ** * **** ***** ***** service *********** *********** **** ***** ******** *** * or ** ****.

************ ****** *** ~*-** **** ********* in *** ** **** ** **** *****:

IPVM Image

*****'* ** ************* ***** *** *+ ******* ******* active ******* *********:

IPVM Image

*** ***** ******** *** **** ***** margins (~**%). ******* **** *** ***** service *** ************ **** ** ~**-**% of ***** ******* **** *** **** 3 *****. *** ************ ******* *** be * ***** **** *** ******, but ******* **** ***** **** *** to *** *******/******** *** *** ***** service ******* ** ** ****.

Variety ** ******** ******** *******

*****'* ******* ********* ***** **** *******, making ** ~**% ** ***** *******. However, ***** **** ****** * ****** of ***** ***** **** ******** **** as *********, ******, ***. ** ** effort ** ***** *** *** ***** ecosystem ** *** ******* ******** ** its **********:

IPVM Image

***** ****** **** *** *******'* * characters ******** ******* "***** **** *******, ***** ******, ***** controls, *** ***** ******* ******."

IPVM Image

New ***** ** ********* ***** ********

** **** ****, ***** ******** ** "algorithm *****" *** *** **** ***** ****** *******. ***** *** ******** ******* ******** analytics **** ** ****** ***********, **** detection, ***. **** *** ***** ***, according ** *** **********:

*** ******’* ********* ***** ** ****** for ***** **** ********* **** ** children's *************, ******* ****, *** *************, etc. *** ** ********** **** **** been *** **** *** ** *** algorithm ***** ****** ******* **** ***********, human ********* ***********, ****** ********** ***********, pet ******** ***********, **** ****** ***********, hand **** *********, *** ***********, ****** fire ***********, ***.

*******, **** ***** *** **** ******* information ** *** **** **** ********* costs. *******, ** ** ******** **** store ** **** ********* ****** *****, as ***** ** ** *******-******** ******* about *** *****.

***** ***** ** ******* ********* **** AI *** ******** ***, ** ** unclear *** **** ***** ********* ******** work *** ******* ********* **** *** to *** *** ****.

New ********* ************* ******** *******

**% ** *** $*** ******* *** planned ***** **** ** ******* ******** a *** ***** ************* ******** ** Chongqing. *** **** ** *** ***** will ** ***** ** *&*, **** as ******** *** * *** ********** cloud ********:

IPVM Image

***** ***** ** ****** ~$*** ******* USD **** **** *** ***** ******* in *********, * ************ ** *** west ** *** ******* *****.

IPVM Image

******** ********* ** * **** **** 1,000 ***** (*,*** **) **** ********, Hikvision***** ** ******* * "******* *** technology ****" ** *** **** ** 2017,****** ***** ****** ***** **********, ***** resources, *** * ************ ********* ** the ******* ****** ** *****:

*** ************ ****** **** *********’* ************ of *** "********* ********* ******* *** Technology ****" ******* **** **** **** use ** *** ********** ** *********’* local ****** ***** *** ******** ***** resources ** ****** *** *******’* ********** capacity *** ******* ********** *** ********* efficiency ** **** *** *******’* ****-**** development *** ******. ** *** **** time, *** ******* *** ****** ***** the ******* *** ******* ******* *** continue ** ******* *** ********* ** the ********* *****, ***** ** ********* to *** *******'* *********** ** *** southwestern ****** ** *****.

* ************* ** ********* ****** ***** partners *** ******* ******* ** ******* District, *********, ***** *********'* **** **:

** ** ****** **, ****, ******* District *** ********** * ***** ** 10 ********* ********** ***********. ***** ********* Hikvision’s ******** *** ********** ********** *****, it *** ******* ******* ********** ***** and ******** *** *********** ** *****-***** and ********** ******** ******* *********** *** clustering. ******** ****, ********* ******, ********* Mingxin, ******* *******, ********* **********, ******* Technology **** **** *** **** ********** one ***** *******. ********* *****, ****** Hongtai **** **** ** ********** *** into ********** **** *****.

Shareholder *********

*** *********** *********** ** ***** ** Hikvision **** **% ** ******. *** other **% ******* ******** ***********, ** ****** ********** *******. ***** the ***, ********* **** ******** ** be *** *********** *********** **** **% of ***** ******.

IPVM Image

Other ***** ***********

***** ***** ** ***** ** ***** a *********** ****** ** *****, ** must ***** ******* **** ******** ***** China-based ******** ************ ******. *** *******, Dahua *** ******* **************** ****-***** **** *** **** ********* of ********. ***** *********** ***** ********** in *** ********** ******* ****** *****-****.

Comments (6)

**** ***** *** **** ** *,*,*.... We *** *** ***** ** *** PRC, ** *** **** **** ******, etc. **** **** ******** ***** ******* the ***** ******* **** *******.

Agree
Disagree
Informative
Unhelpful
Funny: 2

***, ** *** ****** *****, *** filing ***** **** ***** **** ***** be ********** ** *********.

IPVM Image

**** ***** ** ****, ** ** clear, *** ** **** *** **** signs ***. ** **** ******** ** monitor.

Agree: 1
Disagree
Informative: 2
Unhelpful
Funny

* ** ********* *****'* ******* *** that ****. *** ********* *** *** on **-**%?

Agree
Disagree
Informative
Unhelpful
Funny

#*, **** ***, *** ***** ** right. ******** ** *** **** ************* **'* ****** **** *** **** lower *********. ** ** ****, ********'* entire ***** ************ ******** ***** ******* were ~**% *** **** ******** ******* half **** ***** ***** *** **** higher ***** ******* **** *****.

IPVM Image

******** ** *** ** *** ****** today *** **'** ***** ** ******. Thanks.

Agree
Disagree
Informative: 2
Unhelpful
Funny

***, ********* *** ********* ** ******* to **** *** *** ******* ******** -******* ******** **** ********* ** **** Off ******** **** *** ******** ***

Agree
Disagree
Informative
Unhelpful
Funny

** ******** **, ******** ********** ********** ****************** *********'* ***** ***.*************** ****'* *********** *** ***** *** ** ******* will **** *****.

Agree
Disagree
Informative
Unhelpful
Funny
Subscribe to IPVM Research to read the full report.
Why do I need to subscribe?
The IPVM Research Service includes products tests and shootouts plus competitive and financial analysis, helping decision-makers better evaluate purchasing, partnering, developing, and/or competing against companies in physical security.
Already have an account?
Loading Related Reports