The stock price fell by 40 % of Haikangwei during the year, Haikangwei throwing 2.5 billion yuan to repurchase the plan

At the beginning of the year, Haikangwei (002415), which has fallen by more than 40%to the present, announced on the 16th that it is planned to use its own funds to repurchase some public shares to reduce the registered capital. The purchase price does not exceed 40 yuan/share.

Increase income from the interim reporting

The interim report shows that in the first half of this year, Hikvision achieved revenue of 37.258 billion yuan, an increase of 9.9%year -on -year; net profit was 5.759 billion yuan, a year -on -year decrease of 11.14%; non -net profit of 5.646 billion yuan, a decrease of 9.25%year -on -year. As of the end of the reporting period, the net cash flow generated by the company's operating activities was -2.158 billion yuan, a decrease of 209.97%year-on-year from the same period of the previous year. This is the first decline in the company's performance in the past 20 years.

For the income increase of the company's interim report, Huang Fanghong, the secretary of Hikvision, said that in the first half of the year, the company was adversely affected by the macroeconomic downside, the prevention and control of the epidemic, and the city. Press the current profit.

In addition to the impact of the epidemic, in October 2019, the US Department of Commerce included the company in the entity list on the grounds that Hikvision assisted the human rights of Victoria. In May this year, the news that the company may be sanctioned by the company again also caused the company's future expectations to be covered with a shadow.

In this regard, Huang Fanghong said that the conclusion of the lawyer's investigation showed that no evidence showed that Hainan Wei had intention to infringe human rights when participating in the five projects of Xinjiang. Political impact includes various situations, such as geopolitical conflicts and ideology. The rumor of sanctions itself is just a rumor. At present, it has no actual impact on the company's operations. The company has always fulfilled the disclosure obligations in accordance with relevant laws and regulations.

For whether the chip used by the company's products will be restricted by the United States and the problem of stuck necks, Huang Fanghong said that it will respond to the stable business development of the business by replacing the supplier's replacement, scheme switching, and raw material stocking.

Possented the repurchase plan to boost confidence

However, the market does not give the company sufficient confidence. Since the beginning of this year, Hikvision's stock price has been "falling", from 53 yuan/share at the beginning of the year to 29.8 yuan/share on the 16th, a cumulative decline of 43%, and a market value of 218.8 billion yuan. The number of institutions' holdings decreased from 6.031 billion shares at the end of the last year to 5.893 billion shares at the end of the intermediate report. 100 million shares decreased to 511.168 million shares at the end of the central report.

In order to boost the stock price, on the 16th, Hikvision issued an announcement saying that it was planned to repurchase shares with the company's own funds to cancel and reduce the registered capital. The price does not exceed 40 yuan/share.

"The company's repurchase this time will help maintain the company's market image, enhance investor confidence, and promote the company's long -term development." Debon Securities Analyst Zhao Weibo analyzed that "the company continues to maintain technology research and development and continues to consolidate the intelligent technical foundation foundation . Under the epidemic situation, the company's intelligent plan continues to land in all walks of life, and intelligent driving the company's overall revenue acceleration is unchanged. With the improvement of the quality of Chinese manufacturing enterprises, the improvement of automation, the improvement of cost control capabilities, and the increase in investment in technology and equipment It is expected that the growth of robots and automotive electronic business in the second half of the year is more optimistic. "

Reporter Zhu Rong

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