Hikvision Growth Rate and Profits Falling Q4 2015

Author: John Honovich, Published on Feb 24, 2016

Many, including us, were surprised by Hikvision's desperate price slashing on the final days of 2015.

Now, it makes a lot more sense.

Hikvision's 2015 financial letter (in Chinese) sheds new light on the increasing troubles of the company trying hard to wipe out its competitors.

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

***, ** ***** * *** **** *****.

*********'* **** ********* ****** (** *******) ***** *** ***** ** the ********** ******** ** *** ******* ****** **** ** **** *** *** ***********.

[***************]

H1 **** ******

*** ***** **** ** **** *** ********* ****** *** ********* with *** ******* ******* ******* **.*% **** **** **** (*** **********). ******,********* *********** ******* ****** **** **** ********* *************, ******* ********* ***** far **** ****** *** ****** ****** ***** **** *** (* to *).

End **** *******

*** ** ****, *********'* ******* ****** **** *******, **** *** rate ** ** **** ** *** ** *** ***** *** quarters ** *** **** (**** **** **.*% ** ** ** 31.8% *** **). **** ********* *** ***** ** ** ***** revenue ****** *** **.*% (** *** *** ****, **** **.*% to **.*% ** **.*%).*** *** **** ********* ******.

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

** **** *************'* *******, ****** ******* ******** ** ****. ******, * ******* ****** notes, "***** ****** **** **** **** ******** (* ********** ******)", ************ ****** a **** ** *********'* ********** ******** **********-******* ********.

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

******** ******** ** * *********** **** *** ********* ** *** strong ********* ******** ********** *** **** * **** ** **** profit, ***** ***** ********. ** **** ** **** ******* ** continued ********** ********* ************** ********. ** *** ***** ****, **** China's ******* *** *** **** ***** ** ******** **** *********, this ***** ********* *********'* **** ********** ********.

International ******?

****** ******* *** ****** ****** *** *******, ** **** **** no **** ** ********* ********** ** ***** *******. ** ********, Hikvision ********* **** *** ********* ****** ** ***** *** ********* spending (*.*.,********* ******** ******** ********** *********) ***** ** *** ***** ******* **** ****** ** ***** America *** ***** **** ********.

** *** **** ****, ** ********* ******* **** ********* *** continue ** ******* **** ************* *******, ****** ***** *** * critical ******. *****, ********* ** ***** **** ******* *************** **** inside ** ***** ** **** '****' ******* ****** ******** ***** only ******** ****** ******** ***********. ******* *********, ** ** ************ impossible *** ********* ** ***** *** ******* ****** ** ***** outside.

********,*********'* $*.* ******* ** ******* ********** *********** ****** ** ** *** ** ****. ******, ******* ****** may ******** ********** *** ******* ** ** *********, ********* ******** acquisitions (*.*., *** ******* ******* ********* ****** **** *****).

***** ** ********** * *** **** ** ****** **** ****, with *********'* ********* ****** **** *** *** *********** ******* ******** ******* to **** *** ***** *** *** ****** ***** ************ ********.

Comments (4)

** *** **** ***** *** ******* ** *** *** ** 2015 *** ** *******. * ****** ** *** ********* ** Hikvision ** *********** *** ******* ******* ** *** *** ** the **** ** *** ** *** *** ***** ** ***** Q4 *******.

*******, *********** ********.

** **** ********** ~**% ** *********'* ******* ** ******** *** a *** ****** ** ***** ******* *******.

**** *** ****** ******* **% *** ***** ***** ** ***** now...

****** ******** **** *** ***** ****** *** *** ******* ** the **** ** ***** **** **** ******* ******* ** ******* repeats ******. *** ******* ******* ** *** ******* ********* ** accomplished **** **** **** ** *** ***** ** *********** ******** prices ** ***** *** ******** **** ****** ***** ***** ** no ****** **** *** *** *** **** ************. ***** ***** is ** ********* *** *** ******** ******* ** ** **** a **** ** *** *******. ** *** ***** ****** ****** will ****** **** **** **** ** *** *****. ** ***** than ******** ******* *** *** **** ********** *******. ******* *************** thinks ** ******* ****** ***** *** **** ***** ****** ** has ***** ******** *** ***** ****. *** **** **** ************ aspect ** **** **** ** ******** ** ****** *** ******* faster **** ****** ******. ***** ** * ***** ** ********** and **** ** *** ********** ****** **** **** **** ****** to ** *** *** ***** ** ******* ** *** ** upgrade ** **** ****** ********* ****** ***** ** * ********** benefit. ** *** ** *** **** ***** *** ******** *********** where *** ****** ** ***** *******.

*** ***** ****** **** *** ***** ******** ******* ** *** history ** *****-**** *** ****** ** ** ****** ** **** for **** **** **** ******. ******* *** *** **** ** seen ** *** ******* ******** ** *** ******** *** ***** market ******. ***** ****** *** ****** ** ********* ****** ***'* a **** *******. ********* *** ***** *** *** **** **** little ** ** ******.

**********, ** *** ***** ** *** ** *-* ***** **** now ** *** **** ****** *** *** *** ******* **** varifocal ****** *** $** - $** **** ** ******* **** for ***** $**. ** *****'* **** *** ** ** *********** to *** *** ******, **** *** *** *** ***** *** last **-** ***** ** *** ******** *** *********** ********.

****** *** ** *** **** - ********** **** **** **** CCTV ****** ***** *. ***** *******. ******** ******* *** ******** top **** ******* ****** ** ** ************* ****** **** **** found *** ********** ****** ** *** **** ** *******.

******** *** ***** **** **** ********* ****!

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