公告日期：2025-04-26

Hangzhou Hikvision Digital Technology Co., Ltd.
2024Annual Report

April 19, 2025

To Shareholders

In response to the complicated and dynamic business climate in 2024, the Company tapped into
thepotentialoftheChinesesecuritymarket and moreactivelyexpanded itssecuritybusinessoverseas,
while remaining committed to scenario-based digitization and innovative businesses. In 2024, the
combined revenue of our overseas main businesses and innovative businesses surpassed the revenue
of our domestic main businesses, that is, the total revenue of three businesses groups - PBG, EBG
and SMBG - for the first time in our history.

TheCompanyisdetermined to bolster its investment inR&D. SeeingtheriseoflargeAI models,
we actively expand the development of AIoT-powered large multimodal model technology. It is our
business tenet to identify target markets, align with the advancement of cutting-edge technology, and
incorporate new technologies into software and hardware products. The Company will keep growing
its product lines and increasing applicationscenarios based on its persistent effortsto develop sensing
technologies utilizing full electromagnetic waves, mechanical waves, and multi-band fusion. Since
2018, the Company has maintained a steady increase in R&D investment, actively responding to the
continuously deteriorating global operating environment through technological innovation.

The Company will readily adapt itself to the times. In the years to come, we will shift our focus
from faster expansion to higher efficiency, ensuring strong performance for all existing businesses.
Moreover, the Company plans to modify its operating mechanism and optimize its organizational
structure to better adapt to changes in the external business environment, while leveraging digital
technology to increase operational efficiency both internally and externally.

The Company's commitment to global development will not change. Amid the ong……
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