Issue Date: June 14, 2016

The annual shareholders general meeting of GeoVision (3356TW) approved dividends for 2015 today.

The meeting, chaired by Chairman and CEO George Tai, approved the 2015 Financial Statements. GeoVision’s consolidated revenues for 2015 decreased 5% to amount to NT$2,115 million. Net incomes decreased 28% to amount to NT$352 million. The earnings per share of 2015 was NT$4.58. The annual meeting of shareholders approved the resolution of the earnings distribution for 2015, which is NT$4.0 for cash dividends and NT$0.1 for stock dividends per common share.

The shareholders’ meeting also approved the proposal of new restricted employee shares of 550,000 shares as a compensation system to encourage R&D employees. The issuance of the restricted stocks has been approved under shareholders meeting’s consent.

George Tai, the chairman of GeoVision, has commented on last year’s revenue performance as a result of fierce competition and low-pricing pressure from the surveillance peers from China. GeoVision has released Target series IP cameras, the economic models of products, to fight back low-pricing competition but has also suffered from the drop of gross margin as the sales of Target series IP cameras increased year by year. Meanwhile thanks to the added-value video management software and surveillance total solutions, GeoVision’s hardware IP camera products still represent a strong competition against some low-price oriented products. In order to maintain a satisfactory level of gross margin, GeoVision has taken on cost reduction measures to increase outsourcing rate and decrease manufacturing space, said George Tai. Other efforts include the establishment of GV-Install, an installation company in the US branch, and continuous innovation in products development.

The new products of GV-PPTZ7300 and 3MP, 5MP H.265 IP cameras will hopefully bring satisfactory revenues for the company. The GV-PPTZ7300 is a multiple function IP camera of 360° panoramic 5MP fisheye with 10x PTZ. The H.265 IP cameras also come up with H.265 video management software as a cutting-edge total solution.