ZKTeco 2022 and Q1 2023 Financials Examined
ZKTeco is touting "globalization without wavering" and will continue to expand globally as the PRC economy falters.
Despite revenue declines, ZKTeco's share price has soared with the firm passing a $1 billion market cap for the first time since its 2022 PRC IPO, boosted by ZKTeco's aggressive and unproven AI claims.
In this note, IPVM examines ZKTeco's financial performance so far, its geographic successes and challenges, and its AI claims.
****** ** ******* **** ******* *** home **** ** *** ***, ********** in ********** *********, *** *** ****'* poor ******** ***** *** ******* *** overall ******* ** *******.
Revenue **** ****
******'* **** ******* ******** *.**% ** ~$270m ***** *** ******* ********* **.**% to $***, ****** ** * *** margin ** **%, *** ******* **********:
*********, ** **** ************* **** ****************** ********.
Grows **% ******** *** *** ***** **** **%
** ****, ******'* *** ***** ******** a **** **** ** **.**% ** the *** ****** ****, *** *** overseas ***** **** ************* ** **%):
**** ** * *********** ***** *** ZKTeco ** *** **** ***** **** almost ****** ***** ******* ***** *** overseas. *******, ** **** ****** **** almost ***-****** ** *** ***** ******.
Q1 **** ******* ******** *****
******'*** **** ************** ******* ******* **** ***** ******* 6.8% ** ~$***:
******** *** ** ****** **** *** breakdown ******** **. ******** *****, **** most ****** ******** *** **** *** economic ********, ***** *** **** ******** Hikvision *** *****:
- ***** ****** ******** ********
- ***** ********** ** *** **** *** PRC ***** ********** *****
- ******* *** ***** **** ******* ******** Analyzed
*******,********* ******* ********** *** *** ******* its *** *********.
Net ****** ******
******'* *** ****** *** **** ************ between *% ** **% **** *** last * *****, *** ** **** review ** *** **********:
- ****: *.**%
- ****: **.**%
- ****: **.**%
- ****: *.**%
- ****: **.**%
- **** **: *.**%
*** ***** **** *** ** ***** in *******/** *********** *** ******'**** ******.
15% ******* ****** ** * *****
*******, ******'* ******* *** ***** **% over *** **** * *****:
**** ** **** ******** ** ********* and *****, ***** **** **** ***** 67% *** **% **** **** ** 2022, ************.
Developing ********* ******* *******
** **** ****** **** ******* ** India, *********, *** ******, ** **** investors ** **** ** **** *&*:
** ****, *** *******'* ******** ******** will **** ****** ****** ** ********* such ** ***** *** ********* ** Asia, *** ****** ** ***** *******.
**** 年度公司海外业务增长较快的主要为亚洲的印度、印尼， 拉美的墨西哥等国家
******'* ****** *****, *********, ******** ******** in ****, ****** ** *** ******* of *** ******** ******* *** *** impact ** *** ******* ***, *********'* **** ** *&*:
* ****** ******* ** ******** ***** in **** *** ** *** ******* European ******* *** *** ******** ******* Russia *** *******
受欧洲整体经 济及俄乌冲突影响，**** 年欧洲销售略有下降
USA ***********, ***** ****
****** *** *** ******* ***** ** the **, ***** **** ** **.**% of *** ***** ******* ***** **** ****** ****** (** ****); USA ****** ***** ** **** *** estimated ** ~$*********.
****** ***'****** ********** ***** ** **** ** slightly **** **** *** **** ****:
'Adhering ** ************* ******* ********'
****** ** "******** ** ************* ******* wavering," *** ******** *** (****) ********* wrote ** ********* ******:
*********,**** ***************** ********** ******* ******** ** ********** *********, noting ************* ** ****, ***** *******, the ****** ****, *** ******.
Stock ** ** ** *****
******'* ***** ***** ** ** **** 60% **** ****, ****** ** * ~$1.1 ******* *** ****** *** *** the ***** **** ***** ********* **** ***:
*** ***** *** ********* **** ******** ********** ** *** ******* *** ********* ******* ** ** due ** *** ****** ** *******. ZKTeco *** ******** ********** **** *********** by ******* ******** ** ** ************* with ******/********* ******** ** ***** ****:
- ***** **:"*** *******'* *********** **** *********'* ****** is ** *** ***** ** *********** and **********"
- ***** **: "*** *******'* *********** **** *********'* OpenAI ** ** *** ***** ** cooperation *** **********"
- ***** **: "*** ******* *** ********* *** ******* OpenAI-related **********, *** **** ** *** interfaces **** **** ****** ** ***"
********** *********** ** ********** * "********* ******* by *******" *** ******* ** ******** details *** ***** **** ** ***** do ** *** ** ***** ****. IPVM *** ********** ***** ****** *** details ***** *** ** ***** *******, it *** *** *********.
ZKTeco ****** ******** *******
***** ********* ******* *** *** "**********" pledge ** ************* **** ****** **** continue ** ****** ********, ********* ** the **.
****, * *** **** ** ******'* sales ******** ** ********** ****** **** the *** *** **** ******** ** be ********:
***** *** *******, **** ******** - while ********* - **** **** ****** continue.
No ********
**** ********* ****** *** **** *******, but **** *** *** *******. ** they **, ** **** ******.