Hikvision Growth Accelerates Into 2021
Hikvision HQ, Hangzhou.
Hikvision reports it generated a total revenue of RMB63.50 billion in 2020, delivering year-on-year growth of 10.14 per cent, with net profits attributable to shareholders of the company being RMB13.39 billion, reflecting growth of 7.82 per cent.
Hikvision has also disclosed its financial results for the first quarter of 2021, with a revenue of RMB 13.99 billion, representing a YoY increase of 48.36 per cent. Net profits attributable to shareholders of the company in the first quarter was RMB 2.17 billion, representing a YoY growth of 44.99 per cent.
In 2020, Hikvision further expanded its investment in R&D, with a spending of RMB 6.38 billion. The R&D expense ratio has continuously increased over the past few years, from 7.62 per cent in 2017 to 8.99 per cent in 2018, 9.51 per cent in 2019, and 10.04 per cent in 2020.
Hikvision says technological innovation has been the key area of focus driving the successful development of the company, and Hikvision will continue providing more innovative technologies, products and solutions to help increase safety, operational efficiency and sustainability in communities, companies and global societies.
As new external uncertainties emerged in 2020, Hikvision worked closely with partners and suppliers globally to maintain stability and integrity in its supply chain, enhance its intelligent manufacturing processes, and optimize delivery efficiencies, as well as ensure reliable business development.