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    海康威視:螢石、機器人等創新業務均已盈利,AI 等戰略性產品銷售勢頭良好

    本文作者:張棟 2019-06-12 11:21
    導語:短期盈利并不是那么重要,不是最重要的訴求。

    海康威視:螢石、機器人等創新業務均已盈利,AI 等戰略性產品銷售勢頭良好

    近日,Alliance Bernstein、Swedbank Robur等證券機構對安防巨頭海康威視進行了調研,海康威視高級副總經理、董事會秘書黃方紅女士就相關問題進行了解答。

    Q:海外市場 18 年增速 16%為歷史低點,請問今年一季度和上半年的訂單狀況?請問今年重點拓展的領域或者機會主要在哪里? 

    A:海外市場略低,也是因為近兩年海外市場不太平,北美和歐洲是我們最大的兩個區域, 美國的情況去年是負增長,全球市場受各個國家和地區匯率及國內政治情況的影響。

    整體而言, 海外的模式和進展對新技術接收的程度、對政府投入的情況,不同國家均不一樣,所以還是“一 國一策”。 

    相對而言,中國政府會更為進取一些,在基礎建設上的投入會更大,海外發達國家則是保持相對平穩的節奏和推進力度。

    其他新興市場的投入會激進一些,但市場容量相對較小,對增速貢獻沒有那么大。目前看到的趨勢是,有非常多的國家認可“平安城市”的概念,如東南亞的國家, 包括新加坡、印度、泰國等都在陸續推進“平安城市”。 

    西方一般更注重個人自由、隱私,而東方更注重安全,所以會存在各個地區、國家間文化的差異以及對安全的認可程度不一。海外的國家和地區重點還是在于安防市場,部分行業市場有突破,例如在交通行業。

    Q:去年下半年開始注重現金流的部分,渠道、經營模式有所調整,19 年海康針對這塊還是比較謹慎,是否會擴大銷售,恢復之前失去的市場?策略上面今年有什么變化? 

    A:關于全年策略,針對不同用戶、客戶和市場,我們的策略會有些不一樣。

    針對行業市場, 目前海康業務架構調整已經調整到位,為了進一步開拓智能應用的碎片化市場,行業解決方案、 AI 開放平臺、軟件平臺等在 2018 年已經有了比較大的進展, 2019 年將進入落地階段。

    針對渠道市場,目前渠道的中小企業恢復情況還是會看到一些壓力,有滯后的效應,可能會延遲一些, 一旦行業市場起來,渠道市場也會隨之變好。我們渠道庫存水平不高,為渠道市場的增長保存了一定戰斗力。

    總體來看公司 2018 年的策略是做的比較好的,2019 年重在落地執行,要在市場上要見到更多的智能應用訂單和業績產出,這是我們內心的訴求。 

    回到內部管理上來說,公司人員規模已有 3 萬多人,這三年時間快速增加了 2 萬名左右員工,內部存在一個夯實基礎的過程,今年的內部策略是著重在提升人均效能。 

    Q:毛利率開始穩定,今年是否盡量保持毛利率穩定性,不會失去這個競爭力? 

    A:目前來看毛利率連續兩三年的情況比較穩定,大致在 43%、44%左右,從 2015 年的一個快速的下降完成了快速提升并保持穩定的過程,目前對毛利率保持在 40%以上的預期。

    以毛利率來看競爭的情況不是太好說,毛利率是一個整體毛利率的概念,收入是個大池子,產品結構調整 會影響整體毛利率的水平。

    考慮到行業的業務還不錯,加上 AI 等戰略性產品銷售收入增長不錯,對毛利率的穩定有積極的影響,我們對穩定毛利率還是有信心的。 

    Q:2018 年的機器人業務第一次盈利,投資人對這塊業務的期待比較高,未來是會希望逐漸加大盈利規模,還是繼續保持高投入? 

    A:螢石與機器人業務目前都已經盈利,但是公司認為現階段盈利并不是最重要的,還是要更扎實的打好基礎。海康的經營理念之一是厚積薄發,想要讓“發”有力量,必須有比較長的積淀過程,如果太早發力,就容易后繼無力。

    創新業務并沒有加大融資的訴求,追求的是把業務做好,把目標定在更長期的視角下,所以短期的盈利并不是那么重要,不是最重要的訴求。

    當然盈利是商業成功的證明,會給團隊帶來激勵,但是從股東的角度來說,我們等得起。

    Q:公司要做的大數據、物聯網的業務前景很好,但也有很大的不確定性,公司的權衡是怎 樣考慮的?

    A:公司覺得沒有很大的不確定性,相反,確定性很大。

    公司認為對未來的判斷已經可以看得很清楚。在智能化剛來臨的時候,我們說我們感受到了可能會有很大的變化,例如人臉識別會帶給行業不一樣的業務;現在再看智能化,能看到更大的變化,感知技術能給智能物聯網賦能, 幫助物體看、聽、讀、寫。有了感知能力以后,產生感知數據,經過數據的匯聚和治理,形成數據池,然后基于數據,我們做大數據的分析,開拓更多應用,是這樣一個清晰的鏈條。 

    我們再看自身的能力。感知是海康的立足點,此前我們在系統層面的能力尚有欠缺。在 2017- 2018 年,海康威視在系統層下了很大功夫,有的能力提升已經呈現在年報中,更多的則在年報表述之外。

    2017 年我們對“兩池一庫四平臺”還是比較簡略的提及,在 2018 的年報中,“兩池 一庫四平臺”已經可以非常明確的呈現出來:基于對于物聯數據的理解,如何管理計算資源、如何管理數據,怎么讓數據為客戶產生價值。

    在用戶端,我們并不是在描繪一個不確定性的東西, 而是告訴用戶,我們要為你解決什么問題。這樣的問題解決方法非常現實,沒有不確定性。雷鋒網雷鋒網雷鋒網(公眾號:雷鋒網)

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    海康威視:螢石、機器人等創新業務均已盈利,AI 等戰略性產品銷售勢頭良好
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