Hangzhou Hikvision Digital Technology (002415) Q1 2026 earnings summary

Executive summary

• Revenue for Q1 2026 reached RMB 20.72 billion, up 11.78% year-over-year from Q1 2025.

• Net profit attributable to shareholders rose 36.42% year-over-year to RMB 2.78 billion.

• Net profit excluding non-recurring items increased 37.44% year-over-year.

• Growth attributed to higher revenue and improved gross margin compared to the same period last year.

Financial highlights

• Basic and diluted EPS were RMB 0.303, up 37.10% year-over-year.

• Weighted average ROE improved to 3.28% from 2.51% year-over-year.

• Net cash flows from operating activities were negative RMB 2.22 billion, a further decline from negative RMB 1.74 billion in Q1 2025.

• Total assets stood at RMB 135.31 billion as of March 31, 2026, down 1.98% from December 31, 2025.

• Owner's equity attributable to shareholders increased to RMB 86.06 billion.

Key financial ratios and metrics

• Gross margin improved, contributing to higher net profits.

• Operating profit for Q1 2026 was RMB 3.86 billion, up from RMB 2.64 billion in Q1 2025.

• Total comprehensive income attributable to owners was RMB 2.73 billion, up from RMB 2.08 billion year-over-year.