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Hikvision-affiliated maker of smart-home security cameras and consumer IoT devices under the EZVIZ brand.
Hikvision-affiliated maker of smart-home security cameras and consumer IoT devices under the EZVIZ brand.
Sells cameras and smart-home devices through online marketplaces and retailers, and adds subscription fees for storing camera video in the cloud, which lifts earnings from each installed device. Hikvision, the video-surveillance group, is the controlling shareholder, and a large share of sales is made outside China.
In one line: A China-focused, camera-first Ring/Wyze.
Moat: narrow (brand, distribution, scale). Backed by Hikvision's camera manufacturing scale and an established consumer distribution network.
Headquarters: Hangzhou, Zhejiang, China · Employees: 4,520
Size Hangzhou EZVIZ Network (688475.SS) is a China Information Technology company (Computer Peripherals) with a market value of $3.53B, the 733rd largest of 4,839 China companies the cockpit tracks. Shares closed at CN¥29.92 on 6 Nov 2026.
Performance Over six months the shares fell 4.0%, against -10.5% for the median peer and -16.4% for the China market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 8.4% over the last twelve months (peer median +12.7%); the operating margin is 12.0% (peer median 9.7%).
Valuation It trades at 30.1× forward earnings against a peer median of 15.5× (4th most expensive of 17).
Price implies For today's price to make sense, revenue must grow about 16% a year for seven years (Req g). Recent delivered growth is +14%, so the hurdle is +2 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 19.1 points above its cost of capital (8.5% WACC).
Next results Next results expected around 12 Apr 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | CN¥6.26B | CN¥5.87B | CN¥5.42B | CN¥4.82B | CN¥4.29B |
| Revenue growth | — | +8% | +13% | +12% | — |
| Gross profit | CN¥3.09B | CN¥2.50B | CN¥2.23B | CN¥2.00B | CN¥1.52B |
| EBITDA | n/a | CN¥647M | CN¥554M | CN¥589M | CN¥343M |
| Net income | CN¥760M | CN¥567M | CN¥504M | CN¥563M | CN¥333M |
| Free cash flow | CN¥351M | CN¥820M | -CN¥63.6M | CN¥179M | CN¥398M |
| Capital expenditure | CN¥124M | CN¥300M | CN¥612M | CN¥791M | CN¥337M |
| Total debt | CN¥281M | CN¥212M | CN¥229M | CN¥568M | CN¥668M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Hangzhou EZVIZ Network 688475.SS | $3.53B | -4% | +8% | 12% | 30.1× | 15.7% |
| Xiaomi-w 1810.HK | $99.0B | -2% | +6% | 3% | 27.8× | 24.3% |
| Anker Innovations Technology 300866.SZ | $8.83B | -11% | +22% | 11% | 19.5× | 5.8% |
| Arlo Technologies ARLO | $1.33B | -19% | +16% | 3% | 13.8× | 32.6% |
| Zhejiang Dahua Technology 002236.SZ | $7.04B | -21% | +7% | 7% | 12.3× | n/a |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | 688475.SS | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +12.1% | -14.2% | 2nd highest of 21 |
| 6-month return | -4.0% | -10.5% | 8th highest of 21 |
| Distance from 52-week high | -9.9% | -38.1% | highest of 21 |
| Revenue growth (TTM) | +8.4% | +12.7% | 10th lowest of 21 |
| Operating margin | 12.0% | 9.7% | 8th highest of 21 |
| Forward P/E | 30.1× | 15.5× | 4th most expensive of 17 |
| Growth the price implies (Req g, 7 yrs) | 15.7% | 9.6% | 4th most demanding of 9 |
| Growth delivered (Del g) | +13.8% | +9.9% | 4th highest of 9 |
| Hurdle (Req g minus delivered) | +1.9 pp | -8.5 pp | 3rd most demanding of 9 |
| ROIC minus cost of capital | +19.1 pp | +11.3 pp | 7th highest of 21 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Hangzhou EZVIZ Network 688475.SS | China | $3.53B | -4% | +8% | 12% | 30.1× | 15.7% | +13.8% |
| Sichuan Changhong Electric 600839.SS | China | $3.55B | -41% | +4% | 0% | n/a | n/a | n/a |
| Micro-Star International 2377.TW | Taiwan | $3.50B | +43% | +1% | 5% | 11.6× | n/a | n/a |
| Transcend Information 2451.TW | Taiwan | $3.22B | -13% | +286% | 67% | 3.2× | n/a | n/a |
| ADATA Technology 3260.TWO | Taiwan | $3.16B | -33% | +125% | 34% | 4.5× | n/a | n/a |
| Extreme Networks EXTR | United States | $3.15B | 0% | +11% | 6% | 17.2× | 27.3% | +4.9% |
| AURAS Technology 3324.TWO | Taiwan | $2.90B | -10% | +71% | 16% | 15.1× | n/a | n/a |
| Innodisk 5289.TWO | Taiwan | $2.76B | -35% | +334% | 49% | 2.5× | n/a | n/a |
| VusionGroup VU.PA | France | $2.61B | +11% | +45% | 10% | 16.5× | n/a | n/a |
| Venustech 002439.SZ | China | $2.58B | -9% | 0% | -16% | 169.0× | 19.0% | -8.6% |
| Newland Digital Technology 000997.SZ | China | $2.56B | -14% | +29% | 11% | 16.0× | n/a | n/a |
| Societe Industrielle & Financiere de l'Artois ARTO.PA | France | $2.55B | -26% | -6% | -8% | n/a | n/a | n/a |
| E Ink 8069.TWO | Taiwan | $4.98B | +2% | -3% | 29% | 12.4× | -0.3% | +18.6% |
| Netweb Technologies India NETWEB.NS | India | $2.37B | -12% | +175% | 13% | 55.9× | 46.1% | +72.5% |
| Kardex KARN.SW | Switzerland | $2.35B | -9% | +3% | 9% | 30.3× | 11.8% | +12.5% |
| Seiko Epson 6724.T | Japan | $5.39B | +27% | +8% | 6% | 11.9× | 0.8% | +7.2% |
| Gigabyte Technology 2376.TW | Taiwan | $6.01B | +7% | +38% | 5% | 8.1× | n/a | n/a |
| AUO 2409.TW | Taiwan | $6.02B | +49% | -1% | -2% | n/a | n/a | n/a |
| Tianma Microelectronics 000050.SZ | China | $2.05B | -27% | -3% | -1% | 29.5× | -6.2% | +4.4% |
| Beijing Dahao Technology 603025.SS | China | $2.04B | -25% | +23% | 29% | n/a | 7.4% | +29.2% |
| Shenzhen Kaifa Technology 000021.SZ | China | $6.13B | -11% | +14% | 11% | 29.2× | n/a | n/a |