Hikvision has reported solid growth across the 2019 financial year, with Q1 2020 financials showing slight falls in what the company called “extraordinary global circumstances”.

Hikvision 2019 revenue of RMB 57.66 billion showed year-over-year (YoY) growth of 15.69 per cent, with net profits attributable to shareholders of the company being RMB 12.41 billion, reflecting a YoY growth of 9.36 per cent.

The total overseas revenue amounted to RMB 16.24 billion, with YoY growth of 14.43 per cent. And the revenue in the domestic market (China) in 2019 was RMB 41.42 billion, with YoY growth of 16.20 per cent.

Revenue for Hikvision smart home business in 2019 was RMB 2.59 billion, seeing a 58.38 per cent YoY growth, while the robotics business generated a revenue of RMB 813.99 million, with a YoY growth of 23.88 per cent.

In 2019, Hikvision’s R&D spending was RMB 5.48 billion, which accounts for 9.51 per cent of the total revenue. The company has 19,000 R&D employees and the company said significant R&D investments have consolidated its advantages in both hardware and software products, as well as technologies such as artificial intelligence, multi-dimensional perception, cloud computing, and big data.

Hikvision said that “amid the extraordinary global circumstances in Q1 2020 the company achieved revenue of RMB 9.43 billion, representing a YoY decrease of 5.17 per cent, with net profits attributable to shareholders of the company was RMB 1.50 billion, representing a YoY decrease of 2.59 per cent.”

#securityelectronicsandnetworks.com