[Table_MainInfo] 公司研究/信息设备/电子设备与仪器 证券研究报告 海康威视（002415）公司半年报点评 2024 年 08 月 20 日 [Table_InvestInfo] 投资评级 优于大市 维持 股票数据 | --- | --- | |-----------------------------------------------|-----------------| | 08[Table_StockInfo 月 19日收盘价（元）] | 26.52 | | 52 周股价波动（元） | 26.86-37.75 | | 总股本/流通 A 股（百万股） | 9233/9106 | | 总市值/流通市值（百万元） | 244864/241491 | | 相关研究 | | | [Table_ReportInfo] 《初步完成 AIoT 战略转型， | 24 年归母净利润 | | 目标 160-170 亿》2024.04.24 | | | 《智能物联龙头，拥抱 AI | 赋能千行百业》 | | 2024.03.29 | | | 《业绩维持稳健，观澜大模型有望打开全新空 | | | 间》2023. ...

证券研究报告 | 2024年08月19日 证券分析师：胡剑 证券分析师：胡慧 021-60893306 021-60871321 hujian1@guosen.com.cn huhui2@guosen.com.cn S0980521080001 S0980521080002 证券分析师：叶子 证券分析师：詹浏洋 0755-81982153 010-88005307 yezi3@guosen.com.cn zhanliuyang@guosen.com.cn S0980522100003 S0980524060001 联系人：连欣然 联系人：李书颖 010-88005482 0755-81982362 lianxinran@guosen.com.cnlishuying@guosen.com.cn 基础数据 收盘价 27.54 元 总市值/流通市值 254282/250779 百万元 52 周最高价/最低价 37.75/26.86 元 近 3 个月日均成交额 692.88 百万元 | --- | --- | |----------|----------------| | 投资评级 | 优于大市(维持) | | 合理 ...

每次交流内容不慎流出或涉嫌违反上述情形的我们将保留追究法律责任的权利感谢您的理解和配合目前所有的参会者均处于静音状态在演讲结束后将给大家留有提问时间现在有请嘉宾开始发言 谢谢大家上午好我是海康威视董蜜黄方红欢迎大家参加海康威视2024年半年度业绩说明会 今天的议程分为两个部分首先向大家简单汇报公司的经营情况接下来的时间我们一起做互动交流2024年上半年国内经济需求偏弱海域风化明显海外市场整体平稳部分地区冲突持续主要经济体贸易摩擦增多考验公司的全球经营和合规治理能力 面对国内外的复杂环境海康威视秉承专业厚实诚信的经营理念坚定信心始终聚焦自身能力的成长持续推进业务的稳健发展报告期内公司实现营业总收入412.09亿元比上年同期增长9.68%实现归属30公司股东的净利润50.64亿元比上年同期下降5.13% 实现归属三个公司股东的扣除非经常性损益的净利润52.43亿元比三年同期增长4.11%文立主页方面2024年三半年三个BG营收总和189.71亿元比三年同期下降0.26%占公司营收46%其中公共服务事业 事业群PBG实现营收56.93亿元同比下降9.25%企事业事业群EBG实现营收74.89亿元同比增长7.05%中 ...

Investment Rating - The investment rating for the company is "Recommended" [1] Core Views - The company reported a revenue of 41.209 billion yuan in the first half of 2024, representing a year-on-year increase of 9.68%, while the net profit attributable to shareholders was 5.064 billion yuan, down 5.13% year-on-year [3][5] - The overall gross margin and net margin for the first half of 2024 were 45.05% and 13.69%, respectively, showing slight declines compared to the previous year [3] - Domestic market demand is weak, while overseas markets remain stable, with overseas revenue increasing by 15.46% year-on-year [3][5] - The company is focusing on technological innovation and has developed a comprehensive open capability that includes equipment, platforms, data, and applications [5] Financial Summary - The company achieved a revenue of 89.34 billion yuan in 2023, with projected revenues of 98.453 billion yuan in 2024, 113.220 billion yuan in 2025, and 130.203 billion yuan in 2026, reflecting a compound annual growth rate of 15.0% from 2024 to 2026 [2][7] - The net profit for 2023 was 14.108 billion yuan, with projections of 15.567 billion yuan in 2024, 17.866 billion yuan in 2025, and 20.649 billion yuan in 2026 [2][7] - The company's P/E ratio is projected to decrease from 18.0 in 2023 to 12.3 in 2026, indicating an attractive valuation [2][5] Business Segmentation - The domestic business segment showed mixed results, with the Public Service Business Group (PBG) revenue declining by 9.25% to 5.693 billion yuan, while the Enterprise Business Group (EBG) revenue increased by 7.05% to 7.489 billion yuan [3] - The innovative business segment reported a revenue increase of 26.13% year-on-year, reaching 10.328 billion yuan [3] - The company has over 30,000 product models available, providing a significant advantage in meeting fragmented user demands [3][5]

Investment Rating - Maintains a "Buy" rating [2] Core Views - Hikvision's H1 2024 performance met expectations with total revenue of RMB 41.209 billion, a YoY increase of 9.68%, and net profit attributable to shareholders of RMB 5.064 billion, a YoY decrease of 5.13% [1] - The company's innovation and overseas businesses are the primary growth drivers, with innovation business revenue reaching RMB 10.328 billion, a YoY increase of 26.13%, accounting for 25.06% of total revenue [1] - Overseas business grew by 15.46% YoY, becoming the second fastest-growing segment [1] - The Enterprise Business Group (EBG) has become the backbone of domestic operations, with revenue of RMB 7.489 billion, a YoY increase of 7.05%, surpassing the Public Business Group (PBG) in scale [1] - Gross margin remained stable at 45.05%, with expectations of continued stability in 2024 [1] - A one-time share-based payment expense of RMB 471 million due to the cancellation and modification of equity incentive plans caused short-term profit fluctuations, but this is expected to stabilize in H2 2024 [2] Financial Performance - Revenue for 2024E/25E/26E is projected to be RMB 97.212 billion, RMB 107.242 billion, and RMB 119.165 billion, respectively, with YoY growth rates of 8.8%, 10.3%, and 11.1% [3] - Net profit for 2024E/25E/26E is projected to be RMB 14.868 billion, RMB 16.570 billion, and RMB 18.795 billion, respectively, with YoY growth rates of 5.4%, 11.4%, and 13.4% [3] - EPS for 2024E/25E/26E is projected to be RMB 1.61, RMB 1.79, and RMB 2.04, respectively [3] - ROE for 2024E/25E/26E is projected to be 17.8%, 17.8%, and 18.0%, respectively [3] - P/E ratios for 2024E/25E/26E are projected to be 17.1x, 15.3x, and 13.5x, respectively [3] Business Segments - Innovation business, including subsidiaries like EZVIZ, Hikrobot, and Hikmicro, has established a strong position in their respective fields [1] - EBG has surpassed PBG in scale and growth, becoming the largest business group domestically [1] - SMBG (Small and Medium Business Group) showed minimal growth at 0.64% YoY, while PBG experienced negative growth [1] Valuation and Market Data - The stock closed at RMB 27.54 on August 16, 2024, with a total market capitalization of RMB 256.965 billion [4] - The company has a free float of 97.62% and a 30-day average trading volume of 24.02 million shares [4]

Investment Rating - The investment rating for Hikvision (002415) is "Accumulate" (maintained) [1] Core Views - The overall operation in Q2 2024 is stable, with rapid growth in innovative businesses. The company reported a revenue of 41.209 billion yuan in 1H2024, a year-on-year increase of 9.68%, while the net profit attributable to shareholders decreased by 5.13% to 5.064 billion yuan. The non-recurring net profit attributable to shareholders increased by 4.11% to 5.243 billion yuan [4][6] Summary by Relevant Sections Financial Performance - In Q2 2024, the company achieved a revenue of 23.392 billion yuan, a year-on-year increase of 9.46%. However, the net profit attributable to shareholders decreased by 10.73% to 3.148 billion yuan. The non-recurring net profit attributable to shareholders remained stable at 3.483 billion yuan, with a slight increase of 0.02% [5][6] - For 1H2024, the domestic main business remained stable, with the PBG segment under pressure, reporting a revenue of 5.693 billion yuan (down 9.25%). The EBG segment grew by 7.05% to 7.489 billion yuan, while the SMBG segment was stable with a revenue of 5.789 billion yuan (up 0.64%). The overseas main business showed resilience, with a revenue of 11.441 billion yuan, an increase of 15.46% [6] Innovative Business Growth - The innovative business segment experienced rapid growth, generating a revenue of 10.328 billion yuan, up 26.13%, accounting for 25.06% of total revenue. The gross margin increased by 1.94 percentage points year-on-year. Notable growth was seen in storage (up 65.51% to 1.312 billion yuan), automotive electronics (up 60.35% to 1.606 billion yuan), thermal imaging (up 24.05% to 1.83 billion yuan), robotics (up 20.45% to 2.744 billion yuan), and smart home (up 12.17% to 2.449 billion yuan) [6] Future Projections - The company is expected to achieve revenues of 99.199 billion yuan, 111.391 billion yuan, and 125.912 billion yuan for the years 2024, 2025, and 2026, respectively. The net profit attributable to shareholders is projected to be 15.355 billion yuan, 16.877 billion yuan, and 19.031 billion yuan for the same years. The corresponding PE ratios are expected to be 16.56, 15.07, and 13.36 times [6][7]

证券代码：002415 证券简称：海康威视 杭州海康威视数字技术股份有限公司投资者关系活动记录表 编号：2024-8-17 □特定对象调研 □分析师会议 □现场参观 投资者关系 □媒体采访 √业绩说明会 □新闻发布会 活动类别 □路演活动 □其他 （ ） Anakaa Capital Limited Grace Wang；Arohin International Limited Vivien Cao；IGWT Investment 廖克銘；Jarislowsky, Fraser Limited Shuang Yun；百川财富资管 唐琪；北 大方正人寿保险 孟婧；北京桉桉资管 周文博；北京博星 刘阳；北京诚盛资管 吴畏；北京 高信百诺资管 王亮、李广帅；北京黑森资管 孙小东；北京汇信聚盈私募 陈乐然；北京金 泰银安资管 王厚恩；北京容光私募 韩飞；北京润泽财富资管 郑旭；北京神农资管 汪洋； 北京亿鲲私募 杨成溪、臧文浩；北信瑞丰基金 石础；毕盛资管 蔡景彦、王兴林；彬元资 本 陈海亮；彬元资管 张颖恒；博笃资管 叶秉喜；博时基金 于福江、谢泽林、陈鹏扬；才 华资管 范军辉；财通证券 王矗、吴姣晨、郑元昊、董佳 ...

Financial Performance - Revenue for the reporting period reached RMB 41.21 billion, a year-on-year increase of 9.68%[12] - Net profit attributable to shareholders of the listed company was RMB 5.06 billion, a year-on-year decrease of 5.13%[12] - Net profit attributable to shareholders after deducting non-recurring gains and losses was RMB 5.24 billion, a year-on-year increase of 4.11%[12] - R&D investment in the first half of 2024 was RMB 5.70 billion, a year-on-year increase of 7.81%[19] - Innovation business revenue reached RMB 10.33 billion, a year-on-year increase of 26.13%, accounting for 25.06% of total revenue[22] - Net cash flow from operating activities was negative RMB 189.64 million, a year-on-year decrease of 118.49%[12] - Total assets at the end of the reporting period were RMB 127.79 billion, a year-on-year decrease of 7.97%[12] - Net cash flow from financing activities was negative RMB 13.36 billion, a year-on-year decrease of 204.00%[23] - Net cash flow from investing activities was negative RMB 1.90 billion, a year-on-year increase of 8.71%[23] - Total operating revenue increased by 9.68% year-on-year to RMB 41,209,096,206.36, with the smart IoT products and services segment accounting for 100% of the revenue[24] - Main business products and services revenue grew by 5.57% to RMB 30,229,701,063.88, representing 73.36% of total revenue[25] - Robot business revenue surged by 20.45% to RMB 2,744,389,603.14, contributing 6.66% to total revenue[25] - Thermal imaging business revenue increased by 24.05% to RMB 1,829,997,676.77, accounting for 4.44% of total revenue[25] - Automotive electronics business revenue soared by 60.35% to RMB 1,605,885,368.24, making up 3.90% of total revenue[25] - Storage business revenue jumped by 65.51% to RMB 1,311,887,493.34, representing 3.18% of total revenue[25] - Domestic revenue grew by 5.98% to RMB 27,029,231,758.69, accounting for 65.59% of total revenue[25] - Overseas revenue increased by 17.51% to RMB 14,179,864,447.67, representing 34.41% of total revenue[25] - Innovation business revenue rose by 26.13% to RMB 10,328,180,523.75, contributing 25.06% to total revenue[25] - Gross profit margin for smart IoT products and services slightly decreased by 0.14% to 45.05%[27] - The company's total investment in the reporting period was 1,778,530,933.52 yuan, a decrease of 7.41% compared to the same period last year[34] - The company reported a loss of 2,626.43 million yuan from hedging activities during the reporting period[38] - Revenue for the first half of 2024 reached RMB 41.21 billion, a 9.7% increase compared to RMB 37.57 billion in the same period last year[86] - Net profit attributable to the parent company's owners was RMB 5.06 billion, a 5.1% decrease from RMB 5.34 billion in the previous year[86] - Research and development expenses increased to RMB 5.70 billion, up 7.8% from RMB 5.29 billion in the first half of 2023[86] - Basic earnings per share stood at RMB 0.539, a 5.1% decline from RMB 0.568 in the same period last year[86] - Interest income increased to RMB 617.39 million, up 25.0% from RMB 494.00 million in the first half of 2023[86] - Operating profit for the parent company reached RMB 4.61 billion, a 3.2% increase from RMB 4.46 billion in the same period last year[87] - Sales revenue from goods and services reached RMB 43.69 billion, an increase from RMB 40.25 billion in the same period last year[88] - Tax refunds received amounted to RMB 1.92 billion, up from RMB 1.61 billion year-over-year[88] - Cash flow from operating activities showed a net outflow of RMB 189.64 million, compared to a net inflow of RMB 1.03 billion in the previous year[88] - Cash flow from investing activities had a net outflow of RMB 1.90 billion, slightly improved from RMB 2.08 billion in the same period last year[88] - Cash flow from financing activities recorded a net outflow of RMB 13.36 billion, significantly higher than the RMB 4.39 billion outflow in the previous year[88] - The company's cash and cash equivalents decreased by RMB 15.47 billion, ending the period with RMB 33.95 billion[88] - Parent company's sales revenue from goods and services was RMB 5.80 billion, a decrease from RMB 11.83 billion in the same period last year[89] - Parent company's cash flow from operating activities showed a net outflow of RMB 4.60 billion, compared to a net inflow of RMB 2.29 billion year-over-year[89] - Parent company's cash flow from investing activities had a net inflow of RMB 2.04 billion, a significant improvement from a net outflow of RMB 3.06 billion in the previous year[89] - Parent company's cash and cash equivalents decreased by RMB 13.26 billion, ending the period with RMB 23.09 billion[89] - Shareholder equity decreased by RMB 2.216 billion (2.7%) to RMB 79.948 billion at the end of H1 2024 compared to the beginning of the period[90] - Comprehensive income for H1 2024 totaled RMB 5.543 billion, with RMB 5.064 billion attributable to parent company shareholders[90] - Capital reserves increased by RMB 688 million (8.7%) to RMB 8.553 billion due to share-based payments and other capital transactions[90] - Retained earnings decreased by RMB 3.333 billion (5.8%) to RMB 53.803 billion, mainly due to profit distribution[90] - Minority interests increased by RMB 386 million (6.6%) to RMB 6.195 billion[90] - Parent company's shareholder equity decreased by RMB 3.460 billion (5.7%) to RMB 56.774 billion[91] - Parent company's comprehensive income for H1 2024 was RMB 4.236 billion[91] - Capital reserves of parent company increased by RMB 613.6 million (10.6%) to RMB 6.390 billion[91] - Retained earnings of parent company decreased by RMB 4.161 billion (9.6%) to RMB 38.989 billion[91] - Share-based payments contributed RMB 600.2 million to parent company's capital reserves[91] Risks and Challenges - Hikvision faces risks including geopolitical uncertainty, global economic slowdown, domestic economic restructuring, supply chain disruptions, technology obsolescence, internal management challenges, legal compliance, currency fluctuations, customer payment ability decline, cybersecurity threats, and intellectual property disputes[3][4] - The company faces risks including geopolitical uncertainty, global economic downturn, domestic economic restructuring, supply chain disruptions, technological obsolescence, internal management challenges, legal compliance issues, currency fluctuations, customer payment ability decline, cybersecurity threats, and intellectual property risks[44][45] Dividends and Shareholder Information - Hikvision plans no cash dividends, no stock dividends, and no capital reserve to share capital conversion for the first half of 2024[2] - The company's total share capital as of the last trading day before disclosure was 9,233,198,326 shares[12] - The total number of shares with limited sale conditions increased by 114,940 shares, reaching 222,282,613 shares, accounting for 2.38% of the total shares[70] - The total number of shares without sale conditions decreased by 114,940 shares, reaching 9,108,318,318 shares, accounting for 97.62% of the total shares[70] - The total number of restricted shares at the end of the period is 222,282,613 shares, with no shares released during the period and an increase of 52,500 shares[72] - The company's 2021 restricted stock plan granted 97,402,605 shares, which were repurchased and canceled on August 15, 2024[73] - The largest shareholder, China Electronics Technology Group Corporation, holds 36.55% of the company's shares, totaling 3,410,150,909 shares[74] - Gong Hongjia, an overseas natural person, holds 10.32% of the company's shares, totaling 962,504,814 shares[74] - The total number of ordinary shareholders at the end of the reporting period is 337,099[74] - The company's executives Guo Xudong, Xu Ximing, and Huang Fanghong increased their holdings by 30,000 shares, 10,000 shares, and 30,000 shares respectively during the reporting period[73] - The company completed its leadership transition on August 2, 2024, with Qu Liyang, Wu Weiqi, Xu Lirong, and Jin Duo stepping down[73] - The company's restricted shares are primarily due to equity incentive plans and executive lock-up shares[72] - The company's shares held by the top 10 shareholders account for 65.8% of the total shares[74] - The company's shares held by the top 10 shareholders are all unrestricted shares, totaling 6,601,245,828 shares[74] - The largest shareholder, China Electronics Technology Group Corporation, holds 3,410,150,909 shares, accounting for a significant portion of the company's total shares[75] - Gong Hongjia, a major individual shareholder, holds 962,504,814 shares[75] - Hangzhou Weixun Equity Investment Partnership holds 450,795,176 shares[75] - Shanghai Gaoyi Asset Management Partnership holds 412,000,000 shares[75] - China Electronics Technology Group Investment Co., Ltd. holds 245,161,568 shares[75] - The top 10 shareholders collectively hold a substantial portion of the company's shares, with no significant changes reported in their holdings during the reporting period[75][76] - The company's executives, including Chairman Hu Yangzhong, hold significant shares, with Hu Yangzhong holding 155,636,477 shares[77] - The company's executives did not engage in any significant share transactions during the reporting period[77] Business Operations and Investments - The company's main business activities include manufacturing and selling security equipment, network equipment, and smart devices, as well as providing technical services and software development[92] - The cumulative actual investment in the Xi'an Technology Park project reached 1,289,744,549.82 yuan, with a project progress of 79.97%[36] - The cumulative actual investment in the EZVIZ Intelligent Manufacturing Chongqing Base project reached 859,784,275.39 yuan, with a project progress of 73.48%[36] - The cumulative actual investment in the Hikrobot Intelligent Manufacturing (Tonglu) Base project reached 197,524,958.64 yuan, with a project progress of 18.44%[36] - The cumulative actual investment in the Hikrobot Product Industrialization Base project reached 88,873,615.17 yuan, with a project progress of 8.77%[36] - The cumulative actual investment in the Wuhan Smart Industrial Park Phase II project reached 6,416,709.64 yuan, with a project progress of 0.46%[36] - Two new subsidiaries were established through cash investments: Hangzhou Hikvision Huiying Electronics Co., Ltd. and Hangzhou Ruiying Detection Technology Co., Ltd., both aimed at business expansion[42] - The company is steadily advancing the spin-off and listing of Hikrobot on the Shenzhen Stock Exchange's ChiNext board, with the application being accepted and undergoing multiple rounds of inquiries[69] Financial Statements and Accounting Policies - The company's financial statements are prepared in accordance with the Chinese Accounting Standards and relevant regulations[93] - The company's accounting period is from January 1 to December 31 each year[97] - The company uses the Renminbi (RMB) as its functional currency for domestic subsidiaries, while overseas subsidiaries use their local currency as the functional currency[98] - The company's significant accounting policies include the determination of importance standards, such as significant individual bad debt provisions for receivables exceeding 10% of the total balance[100] - The company distinguishes between business combinations under common control and those not under common control, with different accounting treatments for each[101] - The company's control criteria for consolidated financial statements are based on the power to influence returns through participation in relevant activities[102] - The consolidated financial statements are prepared based on control, with subsidiaries included from the date control is obtained until the date control is lost[103] - For subsidiaries acquired through business combinations not under common control, their operating results and cash flows are included from the acquisition date[103] - Subsidiaries acquired through business combinations under common control are included from the earliest period of the reporting period, with their operating results and cash flows included from the beginning of that period[103] - The company uses the equity method to account for investments in joint ventures[104] - Cash equivalents are defined as short-term, highly liquid investments that are readily convertible to known amounts of cash and have insignificant risk of value changes[105] - Foreign currency transactions are initially recorded at the exchange rate on the transaction date, with exchange differences recognized in profit or loss[106] - For consolidated financial statements, foreign currency financial statements of overseas operations are translated using the exchange rate at the balance sheet date for assets and liabilities, and the exchange rate at the transaction date for equity items[107] - Financial assets and liabilities are initially recognized at fair value, with transaction costs either expensed or capitalized depending on the classification[108] - The effective interest method is used to calculate the amortized cost of financial assets and liabilities and to allocate interest income or expense over the relevant period[108] - After initial recognition, financial assets are subsequently measured at amortized cost, fair value through other comprehensive income, or fair value through profit or loss[108] - Financial assets classified as measured at amortized cost include monetary funds, notes receivable, accounts receivable, other receivables, long-term receivables, and other non-current assets[109] - Financial assets classified as measured at fair value through other comprehensive income (FVOCI) include those managed for both collecting contractual cash flows and selling, with those over one year listed as other debt investments[109] - Financial assets classified as measured at fair value through profit or loss (FVTPL) include those not meeting the criteria for amortized cost or FVOCI, and those designated to eliminate accounting mismatches[110] - Interest income for financial assets measured at amortized cost is calculated using the effective interest method, with adjustments for credit-impaired assets[111] - For FVOCI financial assets, impairment losses or gains and interest income calculated using the effective interest method are recognized in profit or loss, while other fair value changes are recognized in other comprehensive income[112] - FVTPL financial assets are measured at fair value, with changes in fair value, dividends, and interest income recognized in profit or loss[113] - The company measures loss provisions for financial assets based on expected credit losses, with adjustments for changes in credit risk[114] - Credit risk is assessed using forward-looking information, considering factors such as internal price indicators, external credit ratings, and changes in debtor conditions[115] - Financial assets are considered to have significantly increased credit risk if contract payments are overdue by 30 days or more[116] - Evidence of credit impairment in financial assets includes significant financial difficulties of the issuer or debtor, contract breaches, and bankruptcy likelihood[117] - Expected credit losses for financial assets are determined by the difference between contractual cash flows and expected cash flows, discounted to present value[118] - Financial assets are written off when the company no longer reasonably expects to recover all or part of the contractual cash flows[119] - Financial assets are derecognized if the rights to receive cash flows are terminated or if risks and rewards are transferred[120] - Partial transfers of financial assets are recognized based on relative fair value at the transfer date[121] - Financial liabilities are classified as either fair value through profit or loss or other financial liabilities[122] - Financial liabilities designated as fair value through profit or loss include those intended for short-term repurchase or part of a managed portfolio with a short-term profit pattern[123] - Other financial liabilities are measured at amortized cost, with gains or losses recognized in profit or loss upon derecognition or amortization[124] - Financial liabilities are derecognized when the obligation is discharged, and any difference between the carrying amount and the consideration paid is recognized in profit or loss[125] - Equity instruments are treated as changes in equity, and no fair value changes are recognized. Transaction costs related to equity transactions are deducted from equity[126] - Derivative instruments are initially and subsequently measured at fair value, and financial assets and liabilities are offset only if there is a legal right and intention to settle net[127] - Financial assets are reclassified when the business model changes, with reclassification effects applied prospectively from the reclassification date[128] - Accounts receivable are assessed for credit risk, with expected credit losses recognized as credit impairment losses or gains in profit or loss[129][131] - Accounts receivable are grouped based on credit risk characteristics, including region and business object, and credit losses are determined using a credit risk matrix[132] - Receivables financing is measured at expected credit losses, with credit impairment losses or gains recognized in profit or loss without reducing the carrying amount[133] - Other receivables are assessed for credit risk on a portfolio basis, with expected credit losses recognized as credit impairment losses or gains in profit or loss[134] - Inventory is measured at the lower of cost or net realizable value, with inventory write-downs reversed if the factors causing the write-down no longer exist[135] - Contract assets are recognized when the right to consideration depends on factors other than time, and credit losses are assessed similarly to accounts receivable[137][138] - The company uses the cost method to account for long-term equity investments in subsidiaries, with initial investment costs adjusted for additional or reduced investments, and current investment income recognized based on cash dividends or profits declared by the investee[141] - For investments in associates and joint ventures, the equity method is applied, with adjustments made to the carrying amount of the investment based on the investee

杭州海康威视数字技术股份有限公司（以下简称"海康威视"或"公司"） 第六届监事会第二次会议，于 2024 年 8 月 13 日以电子邮件方式向全体监事发出 书面通知，于 2024 年 8 月 16 日以通讯表决方式召开。会议由监事会主席陆建忠 先生召集并主持。会议应出席监事 3 名，实际出席监事 3 名。会议召开符合有关 法律、行政法规、部门规章、规范性文件和公司章程的规定。经全体与会监事审 议并表决，通过如下决议： 一、以 3 票赞成、0 票反对、0 票弃权，审议通过《2024 年半年度报告及其 摘要》。 经核查，监事会认为董事会编制和审核公司 2024 年半年度报告的程序符合 法律、行政法规和中国证监会的规定，报告内容真实、准确、完整地反映了上市 公司的实际情况，不存在任何虚假记载、误导性陈述或者重大遗漏。 证券代码：002415 证券简称：海康威视 公告编号：2024-047 号 杭州海康威视数字技术股份有限公司 第六届监事会第二次会议决议公告 本公司及监事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 特此公告。 杭州海康威视数字技术股份有限公司 监 事 会 20 ...

第六届董事会第二次会议决议公告 证券代码：002415 证券简称：海康威视 公告编号：2024-046 号 杭州海康威视数字技术股份有限公司 二、以 7 票赞成、0 票反对、0 票弃权，审议通过《关于与中国电子科技财 务有限公司开展金融服务业务的风险持续评估报告》，关联董事傅柏军、徐立兴 回避表决。 本公司及董事会全体成员保证信息披露内容的真实、准确和完整，没有虚假 记载、误导性陈述或重大遗漏。 杭州海康威视数字技术股份有限公司（以下简称"海康威视"或"公司"） 第六届董事会第二次会议，于 2024 年 8 月 13 日以电子邮件方式向全体董事发出 书面通知，于 2024 年 8 月 16 日以通讯表决方式召开。会议由董事长胡扬忠先生 召集并主持。会议应出席董事 9 名，实际出席董事 9 名。会议召开符合有关法 律、行政法规、部门规章、规范性文件和公司章程的规定。经全体与会董事审议 并表决，通过如下决议： 一、以 9 票赞成、0 票反对、0 票弃权，审议通过《2024 年半年度报告及其 摘要》。 2024 年半年度报告中的财务信息已经董事会审计委员会审议通过。 2024 年半年度报告全文详见巨潮资讯网（www ...