Hikvision announces full-year 2019 and first quarter 2020 financial results
Hikvision has released its 2019 Annual Report. In 2019, the company generated a total revenue of RMB 57.66 billion, having achieved a year-over-year growth of 15.69 percent, and net profits attributable to shareholders of the company was RMB 12.41 billion, reflecting a year-over-year growth of 9.36 percent.
The total overseas revenue amounted to RMB 16.24 billion, with year-over-year growth of 14.43 percent. The revenue in the domestic market in China in 2019 was RMB 41.42 billion, with year-on-year growth of 16.20 percent. Hikvision’s innovative businesses achieved solid growth in 2019. Particularly, the revenue of its smart home business in 2019 was RMB 2.59 billion, seeing a 58.38 percent year-on-year growth. And the robotics business generated a revenue of RMB 813.99 million, with a year-on-year growth of 23.88 percent.
In 2019, Hikvision's R&D spending was RMB 5.48 billion, which accounts for 9.51 percent of the total revenue, and the company has more than 19,000 R&D employees. The significant R&D investments have consolidated the company’s advantages in both hardware and software products, as well as cutting-edge technologies such as artificial intelligence, multi-dimensional perception, cloud computing, and big data.
Amidst the extraordinary global circumstances in the first quarter of 2020, Hikvision has also disclosed its Q1 2020 financial results, with a revenue of RMB 9.43 billion, representing a year-on-year decrease of 5.17 percent. Net profits attributable to shareholders of the company was RMB 1.50 billion, representing a year-on-year decrease of 2.59 percent.
Despite the emergence of new uncertainties in the external environment in 2020, Hikvision plans to proactively improve operating efficiency and manage risks to maintain steady development. The company aims to continuously provide advanced products and solutions through innovative technologies to help increase safety, efficiency and sustainability of communities and societies.
