2025年年度报告（英文版）

Hangzhou Hikvision Digital Technology Co., Ltd. 2025 Annual Report April 18, 2026 Hikvision 2025 Annual Report 1 To Shareholders Since its establishment, the management of Hikvision has been continuously introspecting: Are we doing the right thing? Are we on the right track? Are we keeping pace with the changing times, adhering to technological innovation, maintaining the entrepreneurial spirit, and prudently managing risks? The domestic and international environment is undergoing significant changes and adjustments, and the Company's operational focus has gradually shifted from pursuing revenue growth to improving operational quality. After nearly a decade of expansion, the Company has completed its business layout in the AIoT field and has achieved initial results. In the next three to five years, the Company will further strengthen and solidify its existing AIoT business. In 2025, the Company formulated corresponding strategies for each product line and business, optimized internal operational mechanisms and resource allocation, and improved business performance; in 2026, the Company will further refine various business strategies, deepen institutional reforms, optimize resource allocation, and continuously improve operational quality through more stable business management, creating long-term value for shareholders. Artificial intelligence has become the core driving force of a new round of technological revolution and industrial transformation. Large-scale AI models are promoting the Company's product technology innovation and operational quality improvement at an unprecedented speed and depth. Technological innovation has always been the driving force for Hikvision's development, and large-scale AI model technology is being deeply integrated into the Company's products. Over the past 20 years, the Company has been continuously investing in intelligent technologies, keeping up with the development of intelligent technologies from pattern recognition, video content analysis (VCA), deep learning, knowledge graphs to large-scale models. In the past 5 years, the Company has gradually focused on multimodal IoT perception large model technologies, developing the Guanlan large-scale AI models products, and embracing large-scale AI models in product strategies. In 2025, in the security business and scenario-based digitalization business, the Company launched hundreds of large-scale Ai model products, covering front-end products, back-end products, Hikvision 2025 Annual Report 2 and cloud center products across various or combined spectral bands including visible light, X-ray, millimeter-wave radar, and infrared. These products have already gained widespread recognition from numerous users. This year, the Company will further enrich its portfolio of large-scale AI model products an