Hikvision (海康威视, 002415.SH), one of the largest AI companies in China, released its 2022 financial reports yesterday, showing a YoY growth of 2.14% to 83.166 billion yuan (US$12.11 billion).
The corporation posted a net profit of 12.837 billion yuan, down 23.59% from the same period a year earlier.
Of all the Hikvision divisions, its robotic affiliate Hikrobot (海康机器人) recorded 3.916 billion yuan, up 47.47% over the previous year.
Hikrobot is a manufacturer of AMR and machine vision products, with a focus on industrial IoT, smart logistics and manufacturing, and warehousing automation.
Its AMR products consist of latent robots, robotic carriers, forklifts, cargo-to-you robots, as well as robotic control and smart warehousing software systems.
The suite of Hikrobot products are primarily adopted by clients in automobile, new energy, 3C, pharmaceutical, e-commerce and retail sectors.
Hikvision began divesting Hikrobot for a separate listing on China’s A-share market in 2022. In March this year, the Shenzhen Stock Exchange accepted Hikrobot’s bid to list on the Chi-Next Board to raise 6 billion yuan.
Proceeds from the IPO will be used to finance the construction of Hikrobot’s production facility in Tonglu, a city in Zhejiang known as the birthplace of Chinese logistics giants.
The money will also go toward developing the company’s next-generation AMR and machine vision technologies, as well as supplementing its working capital.
cnrobopedia reported earlier than if the IPO bid is given the greenlight, Hikrobot will become the third Hikvision-related firm to make its way onto China’s stock market, after Hikvision itself and Ezviz (萤石网络, 688475), which went public on the Nasdaq-style Star market on December 28, 2022.