The security giant is increasing and increasing the dilemma, and the innovative business sector becomes a growth point

Text/Yang Jianyong

In the first half of 2022, Hikvision's revenue was 37.258 billion yuan, an increase of 9.9%year -on -year; Dahua's shares revenue was 14.087 billion yuan, a year -on -year increase of 4.31%. Facing the continuous changes in the domestic and foreign situation and the repeated impact of the epidemic, the two major security giants' revenue remains positive growth. Unfortunately, increasing income from increasing increasing profit. In the first half of the year, Dahua's net profit was 1.52 billion yuan, a year -on -year decrease of 7.51%, and after deduction, it fell 12.78%year -on -year. The net profit of Hikvision fell for the first time, and the net profit in the first half of the year fell 11.14%to 5.759 billion yuan.

The net profit decreases, the two major giants of security have increased their income and do not increase their dilemma

In response to the decline in net profit, Dahua pointed out that due to cross -border vehicles, the zero -run from the investment period filed a loss of 209 million yuan during the reporting period. At the same time, the loss of losses in the second half of the year may decline. On the one hand, the loss of zero running will decline in the fourth quarter; on the other hand, with the advancement of the zero -run listing process, the proportion of Dahua shares will further decline.

The author's listing documents for zero -run cars showed that their losses gradually expanded. In the first quarter of 2022, the loss was 1.042 billion yuan, and the loss of 397 million yuan in the same period in 2021, a loss of 645 million yuan. In the past three years, the loss exceeded 4.8 billion yuan, and in 2019, 2020, and 2021, it lost 900 million yuan, 1.1 billion yuan, and 2.846 billion yuan, respectively.

The decline in the net profit of Hikvision is mainly due to the gross profit margin of the entire line of products, which led to the first decline in the net profit of the central report. The financial report shows that the gross profit margin of each product and domestic and overseas revenue has declined year -on -year, which led to a decrease of 3.16%year -on -year, and the main business faces the situation of weak growth. In the first half of the year, the three BG revenue and a total of 1,200.92 billion yuan, a year -on -year increase of 1.58%. The domestic market was impacted by the epidemic in March, April, and May, and it had a direct impact on the business, and it resumed in June.

It should be pointed out that the G and B -end business of Dahua shares also under pressure. In the first half of 2022, the revenue from the To G section was 2.03 billion yuan, a year -on -year decrease of 6.92%; the revenue from the to B sectory was 3.539 billion yuan, a year -on -year decrease of 1.59%. It indicates that the two major businesses built by the two major business strategies of cities and enterprises are facing impact. After all, the revenue of TO G and TO B's core sectors will decline. Judging from the main performance of the two major security giants, it shows that the industry's competitive pressure is huge and the gross profit margin is impacted. Hikvision said at the performance briefing. The gross profit margin in the first half of the year was 43.14%, a decrease of 3.16 percentage points from the same period last year. On the one hand, due to the high base of the gross margin in 2021 and the price increase, the competition atmosphere is slightly heating up in an environment where the impact of the epidemic is impact and demand is weak.

On the intelligent security track, not only the competition between traditional manufacturers has intensified, but also Huawei, Baidu and other technology giants pour into this track. "AI architecture", realizing the rapid development of algorithm models, flexible deployment of the end edge, and efficient in reasoning. At the same time, there are AI unicorn, such as Shang Tang and Kuangxin Technology. They have fragmented and subdivided scenarios from finance, retail, supply chain, and some public places such as stations and airports, making the industry competitive environment more severe. According to the market share of computer vision application released by IDC, Shangtang and Viewing market share is higher than traditional manufacturers such as Hikvision and Dahua.

Security giants are mainly sluggish, innovation business is the breakthrough of the two giants

Faced with tremendous competition pressure in the main business, traditional security manufacturers actively cultivate innovative business, extending smart camera business like C -end, such as smart home scenes. At the same time, the accumulated visual technology is applied to industrial scenarios. As a result, the innovative business shows a rapid growth trend, which is one of the power sources of driving the overall revenue growth. In 2021, the total revenue of Hikvision's innovation business sector increased by 98.93%year -on -year to 12.27 billion yuan, accounting for 15.07%of Hikvision's overall revenue.

This year, the proportion of innovative business revenue has further increased. In the first half of 2022, Hikvision's innovative business revenue was 7 billion yuan, an increase of 25.62%year -on -year, and the revenue proportion increased to 18.81%. In contrast, the growth rate in the main products and services is far less than innovative business. In the first half of the year, the main business revenue was 29.366 billion yuan, a year -on -year increase of 5.21%. When the main business is sluggish, the innovation business has injected its growth vitality into Hikvision.

Specifically, automotive electronics, robots, and smart homes perform well. Taking fluorite network as an example, as an intelligent home innovation sector hatched by Hikvision, it has inherited Hai Kangwei's core strategy for C -end consumers, and scaled the camera product line into the family scene. In particular, fluorite was under the big tree of Hikvision, and it has developed rapidly in the past few years. In 2018, revenue was 1.52 billion yuan. By 2021, the revenue increased to 4.238 billion yuan, an increase of 37.6%year -on -year. In the first half of 2022, the revenue of Hikvision's smart home sector was 1.96 billion yuan, an increase of 4.74%year -on -year.

It is worth mentioning that the fluorite network has been submitted to the science and technology board listing and has passed. Haikang Robot will also be listed on the GEM independently. Data show that Haikang Robotic revenue increased from 850 million yuan in 2019 to 2.74 billion yuan in 2021, with a compound annual growth rate of 80%; net profit increased from 30.1 million yuan in 2019 to 4.85 in 2021 to 4.85 100 million yuan, a compound annual growth rate of up to 302%. Under the layout of Da'an's defense, Hikvision actively incubated innovative enterprises to extend the accumulated technology to more scenes and fields. At present, more than 1 billion innovative business entities have increased from 2 to 5, namely fluorite Network, robot, micro -shadow, automotive electronics, storage business. Dahua's shares are also weak growth, but the innovation business shows a strong trend. In the first half of the year, the revenue of innovation business was 1.686 billion, a year -on -year increase of 40%. Dahua Innovation Business mainly includes corresponding businesses such as machine vision and mobile robots, smart life, automotive electronics, smart security inspection, smart fire protection, video collaboration, drone and smart storage. Independent operation, so as to meet the needs of the market's rapid changes, it has become an important momentum for growth.

At the performance briefing, in response to the development of innovation business, Dahua said that in terms of subdivisions, except for Ley Orange, Huarui, and West Rui Jie slightly, other innovative business scale is small, such as smart fire protection and smart security inspection. In the incubation stage. In terms of Le Orange, the growth rate of more than 50%in the first half of the year claims that the future is expected. Mainly, during the reporting period, a new product such as video locks with screens, second-generation sweeping all-in-one robots, Wi-Fi6 routers, and smart lighting are released.

Because Dahua attaches great importance to the cultivation and development of innovation businesses, relying on the technical accumulation of the video objective industry and the ability of supply chain integration and market capabilities, vigorously innovate, and continue to expand new high -speed growth areas. In the machine vision and mobile robot, the subsidiary Huarui Technology focuses on the perceptual layer of the industrial Internet, focusing on the machine vision and warehousing and logistics transportation business focused on smart manufacturing scenarios. Although the machine vision and robot are affected by the epidemic, it has a steady growth compared to the main business.

at last

Driven by the promotion of artificial intelligence and the Internet of Things, while promoting the security industry into the era of intelligent security, the competition is intensifying. With more and more players poured into the track of intelligent security, in the increasingly severe market competitive environment, security giants are also difficult to hide their weakness. Of course, the wave of digitalization spreads in all walks of life, and technology with artificial intelligence, cloud computing, the Internet of Things as the core as the new infrastructure to inject innovative vitality into various industries. Application scenarios can release 100 billion market opportunities.

Yang Jianyong, a Forbes Chinese writer, is committed to in -depth interpretation of cutting -edge technologies such as the Internet of Things, cloud services and artificial intelligence.

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