In the field of smart home, EZVIZ Network, as a dazzling star, is showing strong development potential.
As of February 9, 2026, its stock code is 688475 and the closing price is 30.51 yuan.
EZVIZ Network was born out of the security giant Hikvision and is the world’s leading smart home service provider.
It is driven by the two wheels of “smart home + cloud platform”, and its core products are rich and diverse, including smart cameras, smart door locks, service robots, etc.
Among them, smart home cameras rank first in global shipments and are the absolute leader in the smart home visual field.
The following are some pictures related to EZVIZ Network products:
From the perspective of financial performance, EZVIZ Network has stable performance and high-quality earnings.
In 2025, the company will achieve revenue of 5.901 billion yuan, a year-on-year increase of 8.44%, and net profit attributable to the parent company of 567 million yuan, a year-on-year increase of 12.43%. The profit growth rate is higher than revenue, and the quality of operations continues to improve.
In the first three quarters of 2025, the gross profit margin reached 43.63%, the net profit margin was 9.84%, and the ROE was 7.56%, showing strong profitability and asset operation efficiency.
Moreover, the net cash flow from operating activities in the first three quarters was 510 million yuan, a year-on-year increase of 288.91%, and the ability to collect payments was significantly enhanced.
EZVIZ Network has many core advantages.
In terms of technology, we have self-developed “EZVIZ Blue Ocean Model 2.0”, focusing on vertical IoT scenarios and realizing the in-depth application of AI in smart locks, nursing and other fields, with high technical barriers.
Its Internet of Things cloud platform service gross profit margin exceeds 70%, with nearly 200 million registered users and over 65 million monthly active users, forming a highly sticky ecological closed loop.
At the same time, a “2 + 5 + N” ecosystem has been built, with cameras and smart home entry as the core, covering whole-house smart scenarios such as security, cleaning, and health.
The current industry prospects are good, and there are dual opportunities for AIoT and overseas expansion.
With the combination of large models and hardware, smart homes are evolving from “single devices” to “scenario-based solutions”, and industry penetration continues to increase.
In the first half of 2025, overseas revenue increased by 25.42% year-on-year, accounting for 38%. The global layout has achieved remarkable results and has become an important growth pole.
In terms of growth momentum, the Chongqing production base has been put into use in mid-2025, effectively supporting the demand for production capacity expansion.
Smart home entry business (smart door locks) revenue will grow by 33% in the first half of 2025, cloud platform services will grow by 12.2%, and new businesses will become a new engine for growth.
However, EZVIZ Network also faces some risks.
Competition on the smart home track is fierce, facing the squeeze from giants such as Huawei and Xiaomi.
Overseas business accounts for a high proportion, so we need to be alert to the risks of international trade frictions and exchange rate fluctuations.
AI technology updates rapidly and requires continued high investment to maintain technological leadership.
However, institutions are generally optimistic about EZVIZ Network.
The average institutional price target in the past 90 days is 42.04 yuan, which means there is about 37% room for growth compared to the current stock price.
Institutions generally believe that the company’s fundamentals are solid and the second growth curve is gradually gaining momentum, and they give it a “buy” or “overweight” rating.
However, it should be reminded that investment is risky and decisions need to be made with caution. The stock prices and financial data mentioned in the article are only historical performances and do not represent future trends.
