ZKTeco Financials Analyzed (Q3 2023)

****** ** ******* ******** ** ** embraces "************* ******* ********," *** *** declining *** ***** *** ******* **** overall ******.

**** ** **** ** * ******* pattern ** *** **** *** ******* hurting *** ***** *.*.********* ** **** ********** ********,***** ** **** ********** ********,******* ** **** ********** ******** - Declines ** ***, '*********** ********' ********,****** **** *** ** **** ********** Examined.

** **** ****, **** ******** ******'* latest **********, ********* *** ** ********'* performance, *********** ******** ****** *** ***, and **** **** **** *** *** firm.

Executive *******

******'* ** ******* ********* ********** ** 5%, ***** *** ******* **** **** 22%. ****** *** **** ***** ********** while ******** *** ******* *** *** first *** ****** ** ****.

*******, ******'* ****** ***** *** ****** growth *** *** ** *** **** year *** ** ********** *** *****. As * ******, ******'* ********** ** overseas ***** **** ** **** **% in **** ** **% ** ** 2023.

**** ********** ****** ** ******* ****** into *** ** *** ****** ******* like ***** *******, ***** ** ****** less *********** *** ****** **************. ******* PRC ***** **** ******'* ****-**** *********, though, **** *** **** ******* **********.

ZKTeco **********

****** ** * *** ****** ******* manufacturer ***** ** ******** ********* ****** ** *** ***** ****, ******* **** ****** *** via ************. ***** ***-*****, ****** *** expanded ************ ********, ****** *********** *** *** ******.

Q3 ******* ********

******'* ** ******* ********* *% ** ~$69m *** ***** ******* ******* **% to $*.**, ********* ** ********* **********:

****** *** *** ******* *** ***** increase, *******, **** ** * ******** result ***** **** *** **** ***, the *** (*** ******* ******) ************** *********.

*** *** ******* ** **** *** been ******** ********************** ****** **** ************ *********** ******.

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

******'* ** *** ****** ** ****** at ****** **%, ** **** **** previous *****:

******************* *** ** **** ** ******* was *** ** * *********** ** increased ***** *** *&* ********, **** new ***** ***** **********.

ZKTeco *** ********** ********

****** *** (********* ********, ***** ****** did *** ********)**** ******* **% ** $**.** *** *** the ***** *** ****** ** ****. This ** ********, *** **** **** growth ** ****** ** *% *** to ***************** *** ******* ****.

**** ***** ****** *** ***** ** least $*** *** ** ***** *** year, ** **** **** ****'************ ****. ****** *** **** ******* its *** ******* ** **** - without *********** - ****** ** * high **% *** ******:

**** ** **** ****** **** ******'* global *** ****** ** ****** **%. ZKTeco *** *** *************** **** ** ************* ** **** *********** *** *****-*********** in *** **.

PRC ***** *******, ******** ******** "*******"

***************** ** **** **** *** ******** business **** "*******" ** **.**% ***** domestic ***** **** **.**% *** ** a **** ******** ******** *** "********* demand" **** ****:

*** **** ****** *** *** ****-**-**** decline ** ******** ***** ** *** first **** ** **** ** **** thedomestic ******** ******** ** **** **** ********, leading tolack ** ****** **********. Small and medium-sized enterprises control expenses and reduce costs, shrinking ******. Although there is a certain demand for medium and large enterprises to reduce costs and increase efficiency, the demand is not as good as expected.

**** 年上半年国内销售同比下降的主要原因为国内经济复苏不及预期，导致市 场信心不足，中小企业控费降本，需求缩水，中大企业降本增效虽有一定需求，但需求 不及预期。[******** *****]

****, ****** **** *** ***** **** its ******** **. ******** *********** ** quarter, ** *** ***** ** ********** is *** ***** ** ****.

Increasingly ********* ** ********

****** ** ******** **** **** ********* on ******* **** ********, ****** ** 67% ******** ** **% **** *** years ***:

******'* ******** ******** ****** ** ****, declining ** **% ** **** *** risk ******* **** ******* ** *** end ** **** ****.

US "*** ***** ******" ***** **** *****, ****

****** ***** *** ** ** * "top *****" ****** ** *** ********* 2023******** ********* **** **** ******* *** ***** America:

*: **** ** *** *******’* ***** proportion ** **** ******** *******? ***** countries *** **** ****** ****? *: The *******’* ******** ******** ********* ********** than *** ********* *** *******. ** the ***** **** ** **** , thetop ***** ******* ***: *** ****** ******, **** ******* *** ***** *******.

*：公司在海外各国家的销售占比情况？主要来自哪些国家？ *：公司境外业务目前已遍及 *** 多个国家和地区。**** 年上半年，销售靠前的区 域为：美国、亚太及拉美地区。[******** added]

****** *************** ****** ** ** ******* ****** in ***** *******, ***** ********** *****, Indonesia, ***** ******, *** *** *** some ** *** ******* ******* ** Asia (********* *** ***).

ZKTeco ****** ****** *******

******* *** ***** ** ******* ******'* overall ******, **** *** **** ********** sales *** ******* **** * ** 3% ** *** **** ****:

**** ****** ********* ***** ******'* ****-**** competitiveness ***** ************ ***** *** ************* like ********* *** ***** **** **** able ** ******** ******* *** ***** to **** ******* *********.

PRC **** ***********, **** **********

****** **** *** *** ****** ** "highly ***********" ******** ** ********, ******* it ** ***** *** *** ******** lower *** ******* *** *************, *** a ********* ************ ****:

*** *******'* **** ******** ***** ***** include ********* ********* *** ******* **** as ***** ******* *** ******. *** local *********** ***** ** ****** **** that ** ***** *** *** ****** requirements *** ******* ********* *** ********.Consumers *** **** ******* ** *** ****** ***** for multi-functional products and high-quality services

******** **** ***highly *********** ********* ** *** ******** ********** ******* ******, the number of competitors in overseas markets that are equivalent to the company in terms of products and services is relatively small.

对比国内电子产品市 场的高度竞争现状，海外市场上与公司在产品和服务上水平相当的竞争对手数量相对较 [...] 对比国内电子产品市场的高度竞争现状，海外市场上与公司在产品和服务上水平相当的竞争对手数量相对较少 [******** *****]

****** ***** **** ** *** *** sales *** ****** **** **** ** online ********* ****** **-****** ***** ******** to ******, ******* ******* ** ** discount ******* ** ****** ****** *****.

Market *** **** ***** $* *******

******'* ****** *** ******* ~$*.* ******* USD ********** ******* ****, *** ** ** *** about $**** *** ** *** ***** declining *% (*** *** ************ ** the ******* ****):

** *** **** ****, ******'* ***** is ** **% ** *** ** 2023, ********** **** ******** ********** **** its *** ***** **** ********** *******.

Outlook: ********* ************* ******** *** ***** ****-**** *****

******* **** ****, ******'* ****************** ****** ******** "************* ******* ********," indicating * **** ****** *****. ***** latest ********* ******* ******** **** ********, given *** ********** *** *******.

*******, ****** ***** ****-**** ********** ******* strong *** ******, ** **** ****** remains "*******" ********* ** *** **** in ****** *****.