“Ten years ago, when the concept of smart home was still vague, we firmly believed that whether it is connecting people and homes, or protecting people and property, security is the ‘1’, and all other intelligence, convenience, and entertainment are the ‘0’ at the back. Without this ‘1’, everything returns to zero.” EZVIZ Network (688475.SH), a smart home leader with a strong security background and has been established for ten years, still emphasizes that “security” is the company’s foundation.
“No matter how the industry trends have changed in the past 10 years, from single-product networking to whole-house intelligence, to today’s large model craze, we have always regarded safety as the first criterion for product development and the lifeline of user experience.” At the 2026 brand new product launch conference on April 21, EZVIZ Chief Product Officer Chen Guanlan said this.
Chen Guanlan explained that the technological evolution path of EZVIZ Network is very clear, which is from security protection to active intelligence: in the past ten years, it has solved the problem of “visibility, connectivity, and stability” and completed the infrastructure construction of security protection; and in the next ten years, equipment will not only be able to perceive the physical world, but also understand scenarios and intentions, and proactively provide just the right services.
The key element to achieve active intelligence is multi-modal large models.
In 2024, EZVIZ Network released the EZVIZ Blue Ocean model and upgraded to the 2.0 architecture in 2025.
“The new generation of models has stronger processing capabilities for video, sound, and text, faster response speed, and higher accuracy. In-depth understanding of the scene is actually the prerequisite for all active services.”
At the press conference that day, EZVIZ Network intensively released a number of new hardware products, including AI large model hosts, AI body-worn cameras, AI panoramic smart locks, AI steam scrubbing robots, etc., and upgraded the brand mission from “committed to everyone to easily enjoy a safe smart life” to “creating a better life with safe smart technology.”
One of the core products is the local smart hub deployed in the home – the intelligent large model host EZVIZ AI CoreX.
As the key edge core in EZVIZ’s “cloud-edge-device” collaborative architecture, EZVIZ AI CoreX is equipped with EZVIZ Blue Ocean large model 2.0 and Home Vita intelligent agent. It has 64T computing power and supports whole-house device aggregation, natural language retrieval and automated scene linkage.
According to on-site introduction, the product will be first launched in overseas markets.
In addition, it is worth noting that in the EZVIZ smart home camera sector, it currently leads the market. IDC related reports show that shipments will continue to rank first in the world in 2025.
However, one of the changes in the past two years is that EZVIZ Network has expanded beyond the basic market of “home security” and begun to focus on the outdoor needs of individual consumers.
At this press conference, the Fluorite “Little Rubik’s Cube” series also added new members.
Based on the previous generation, the Cube CB60 Pro battery 4G waterproof version has been specially upgraded with four major capabilities: radar penetration detection, GPS + Beidou positioning, dustproof and waterproof, and a detachable magnetic base, which can cope with complex outdoor environments.
In 2025, EZVIZ Network launched the 4G battery movable camera Cube CB60.
EZVIZ Network mentioned at its performance briefing on April 11 that this product has become a hot product of the year.
“We have insight into two points. First, we have paid less attention to individual consumers in the past and have not focused on covering them; second, the company will begin to consider mobile Internet of Things for individuals in 2022, but currently our applications are still fixed Internet of Things, and cameras are more of a fixed form. Last year, CB6
0 breaks the boundaries of our business and becomes mobile.”
The relevant person in charge added that EZVIZ launched the sub-brand Akiitu in 2025 to create a new category, “more for individuals who love outdoor activities and sports, and the tone is different from the EZVIZ brand’s preference for home security.”
The predecessor of EZVIZ Network was born in 2013 as the Internet business center of Hikvision.
In 2015, Hikvision established EZVIZ subsidiary. In December 2022, EZVIZ Network was listed on the Shanghai Stock Exchange’s Science and Technology Innovation Board, becoming Hikvision’s first listed subsidiary.
The company’s main business is smart home and IoT cloud platform services, and it is a market leader in smart home product segments such as smart home cameras, smart cat eyes, and smart door locks.
As of the end of 2025, the EZVIZ IoT cloud platform has more than 120 data sites around the world, and the number of IoT devices connected to the platform will exceed 360 million, including more than 300 million video devices.
The company’s 2025 annual report shows that the annual revenue was 5.901 billion yuan, a year-on-year increase of 8.44%; the net profit attributable to shareholders of the listed company was 567 million yuan, a year-on-year increase of 12.43%; the net cash flow generated from operating activities was 1.120 billion yuan, a significant increase of 104.30%.
Among them, the smart home camera business, which is the company’s basic base, will perform steadily in 2025, with annual revenue of 3.18 billion yuan, a year-on-year increase of 7.87%, and gross profit margin increased by 2.14 percentage points to 39.33%.
As the second growth curve, the smart home entry business achieved revenue of 936 million yuan, a year-on-year increase of 25.25%, and the gross profit margin increased by 4.86 percentage points to 47.39%.
In the first quarter of this year, EZVIZ Network achieved revenue of 1.413 billion yuan, a year-on-year increase of 2.36%; net profit attributable to shareholders of listed companies was 183 million yuan, a year-on-year increase of 32.30%.
In terms of regions, EZVIZ Network will achieve domestic revenue of 3.530 billion in 2025, with a year-on-year growth rate of 1.25%, accounting for 60.16% of its main business revenue; overseas revenue will be 2.338 billion, with a year-on-year growth rate of 22.27%, and its proportion of main business revenue will further expand to 39.84%.
The company mentioned at the performance briefing that overall, the proportion of overseas revenue is increasing and will gradually exceed that of domestic revenue. This is a clear trend.
From the data point of view, the shipment volume of overseas products has gradually approached or even surpassed domestic products.
