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Hikvision Interim Financial Report Released, Company Maintains Healthy Growth

July 27, 2017

Hikvision’s 2017 Interim Report shows solid financial results for the first half of the year, with year-over-year double-digit increases in operating income and net profit.

Released this week, the report covers financial results from January 1 to June 30, 2017. In the first half of 2017, Hikvision’s total operating income is $2.4 billion (RMB ¥16.45 billion), which represents a year-over-year increase of 31 percent compared to $1.8 billion (RMB ¥12.55 billion) achieved in the first six months of 2016.

Net profit attributed to Hikvision shareholders in the first half of 2017 is up 26 percent over last year. The 2017 total is $487 million (RMB ¥3.29 billion), compared to $386 million (RMB ¥2.6 billion) for 2016.

The profitability of the company improved continuously, resulting in an overall gross profit margin of 42.72 percent in the first half of 2017, up 1.14 percent over last year’s gross profit margin for the same time period.

EPS (earnings per share) were up 23 percent in this reporting period, at $.05 (RMB ¥0.357) in 2017 compared to $.04 (RMB ¥0.288) in 2016.

Hikvision is a publicly traded company, listed on the Shenzhen Stock Exchange.

The company’s weighted average ROE (return on equity) was 12.98 percent, consistent with last year’s average of 12.96 percent.

Fundamental to Hikvision’s growth from 2001 to present has been its investment in R&D. In the first half of 2017, R&D investment rose 50 percent compared to one year ago. So far this year, Hikvision has invested more than $215 million (RMB ¥1,454,783,663) in R&D; it invested more than $143 million (RMB ¥968,001,812) in the first six months of 2016.

“North America is one of the regions around the world that contributes to the growth of Hikvision, and we are building momentum with the establishment this year of the first Hikvision R&D Centre located outside of China, the Montreal R&D Centre,” said Jeffrey He, president of Hikvision USA Inc. and Hikvision Canada Inc. “The new R&D Centre means we’re bringing more high-skill, good-paying jobs to our communities. We’re tapping the tremendous talent pool in the Montreal area and over the next few years we expect to have more than 100 research and development engineers based in Montreal.”

Firmly established in the global video surveillance industry, Hikvision is actively exploring and commercializing AI technology, and continues to explore innovative businesses such as EZVIZ Smart Home, Hikvision Robotic, Hikvision Automotive Technology, and Hikvision Storage, with the goal of building core competitiveness in new business areas.

IMPORTANT! This model requires non-standard firmware. Do Not Install standard firmware (e.g. v.4.1.xx) on this model. Doing so will permanently damage your system. You must use custom firmware v.4.1.25 from the iDS-9632NXI-I8/16S product page.

View the most updated version of this document here:

https://techsupportca.freshdesk.com/en/support/solutions/articles/17000113531-i-series-nvr-firmware-upgrade-instructions

 

The I-series NVR (such as the DS-7716NI-I4) is one of Hikvision's most popular and feature-rich recorders. As such, many firmware revisions have been introduced over the years to continually ensure the product is compatible with the newest technology available. Due to the many revisions, we recommend that the user closely follows the instructions below in order to reduce the amount of time spent as well as the chance of failure.

 

Database Optimization and Repair

As more affordable IP cameras are introduced over time with greater video resolution and data sizes, more efficient database management also becomes necessary. The introduction of firmware v4.0 brought about a new database architecture in order to be futureproof.

 

After upgrading to v4.X, the recorder database will need to be converted and optimized. If you are experiencing issues where playback is expected but not found, make sure "Database Repair" is performed as indicated in the procedures and scenarios below.

 

Preparing the Upgrade

Before proceeding with upgrade, it is recommended that NVR configuration file is exported from the NVR over the network or on to a local USB drive.

 

Upgrading from v3.4.92 build 170518 or Older

  1. All recorders must reach v3.4.92 before proceeding further. Upgrading from versions before v3.4.92 directly to any version of v4.X will likely cause the recorder to fail.
  2. If the recorder is already at v3.4.92, a full factory default is highly recommended before upgrading to any version of v4.X. There is a high chance of unit failure (requiring RMA) if the unit is not defaulted before upgrade.
  3. After reaching v3.4.92 and performing a full factory default, an upgrade directly to v4.50.00 is acceptable.
  4. After the upgrade is completed and the recorder is reprogrammed, it may be beneficial to perform a Database Repair. For details, refer to the section "Database Optimization and Repair" above.
  5. To verify repair progress, you may refer to the HDD status, or search the recorder log for repair started and stopped entries. Note that while the HDD is repairing, new recordings are still being made, but some existing recordings may not be searchable until repair is complete.
  6. If you continue to observe playback issues after database repair, ensure there are no power, network, or motion detection issues. Should the problem persist, contact technical support.

 

Upgrading from Any v4.X Build to v4.50.00.

  1. Any v4.X build can be upgraded directly to v4.50.00.
  2. Export configuration is highly recommended before performing the upgrade.
  3. If upgrading from any v4.X version that was not v4.22.005, a Database Repair is recommended. Refer to Step 4 and onwards in the previous section.

 

Downgrading

Downgrading is not recommended. Due to new features and parameters constantly being added, downgrading may cause the NVR to factory default itself or require a manual default to operate properly.

View the most updated version of this document here:
K-Series DVR upgrade instruction
The Turbo 4 Hybrid DVR K series has multiple models and across different platform and chipset. It also has similar firmware development of other recording product line; DVR K series has also introduced the GUI4.0 to ensure the series to be compatible to the newest technology available. The new database architecture is also brought into the DVR firmware v4.0 to be future proof and for better recording search experience. 
 


Database Optimization and Repair

As more affordable cameras introduced over time with greater video resolution and data sizes, more efficient database management also becomes necessary. The introduction of firmware v4.0 brought about a new database architecture in order to be futureproof.
After upgrading to v4.X, the recorder database will need to be converted and optimize. If you are experiencing issues, where playback is expected but not found, please make sure to perform "Database Rebuild" as indicated in the procedures and scenarios below.
 


Preparing the Upgrade

Before proceeding with upgrade, it is recommend exporting DVR configuration file from the DVR over the network or on to a local USB drive.

 

Action after firmware upgraded 

1. Upgrade the DVR according to the chart above. 

2. Reconfirming Channel's Recording Schedule 

    - Confirm channel's recording schedule is enable. 

    - Check if the channel is on correct recording schedule.

3. Double Check Storage Setting

    - Make sure all channel are assigned to record on its HDD group when the Storage setting is under Group Mode. 

4. Perform Database Rebuild locally. 

    • Some version above support Database Rebuild via web access - K51 and K72

    • Perform Database Rebuild regardless if system is having any database issue symptom. 

    • Database Rebuild process is average ~30 to 60min per TB. The process may still varies depends recording data.

    • After Database Rebuild - Check log to confirm Database Rebuild has went thru properly. 

    • If Database Rebuild Started and Stopped log has been log only within few minutes. Database rebuild may not has been completed properly. It is strongly recommend performing the Database Rebuild again.

    • To check log > System > Log > Information > Database Rebuild Started and Stopped.

    • If the log option is not available - access system via SSH can also obtain similar result.

5. Recording Data is still missing after database rebuild process. 

If the data has not been recorded or has been overwritten, Database rebuild process is not able retrieve those lost data. Have the system upgraded to the latest available firmware version above to prevent any future data lost is strongly recommended for all application.

 

 

 

 

In light of the global semiconductor shortage, Hikvision has made some hardware changes to the DS-76xxNI-Q1(2)/P NVRs, also known as “Q series.”

 

These changes do not have any effect on the performance, specifications, or the user interface of the NVRs. For the ease of reference, these modified units are known as “C-Version” units. This is clearly indicated on the NVR label and on the box by the serial number.

 

The only difference between the “C-Version” and “non-C-Version” is the firmware. The firmware is not interchangeable:

 

  • The C-Version NVRs must use firmware version v4.31.102 or higher.
  • The non-C-Version (Q series) NVRs must use firmware version v4.30.085 or older.

 

Please do not be alarmed if a “Firmware Mismatch” message pops up on the screen during the firmware upgrade. This simply means that the firmware does not match the NVR’s hardware. Simply download the correct firmware and the upgrade will go through without any issue.

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If you are agreeing on behalf of your company, you represent and warrant that you have legal authority to bind your company to the General Terms of Use above. Also you represent and warrant that you are of the legal age of majority in the jurisdiction in which you reside (at least 18 years of age in many countries).