Hikvision, an IoT solutions provider with video as its core competency, has released its 2019 annual report. In 2019, Hikvision generated total revenue of RMB57.66 billion thereby achieving a year-over-year (YoY) growth of 15.69%, and net profits attributable to shareholders of the company was RMB12.41 billion, reflecting a YoY growth of 9.36%.
The total overseas revenue amounted to RMB16.24 billion, with YoY growth of 14.43%, and the revenue in the domestic market (China) in 2019 was RMB 41.42 billion, with YoY growth of 16.20%.
Hikvision’s innovative businesses achieved solid growth in 2019. Particularly, the revenue of its smart home business in 2019 was RMB2.59 billion, seeing a 58.38% YoY growth, and the robotics business generated revenue of RMB813.99 million, with a YoY growth of 23.88%.
In 2019, Hikvision’s R&D spending was RMB5.48 billion, which accounts for 9.51% 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 Q1 2020, Hikvision has also disclosed its Q1 2020 financial results, with revenue of RMB9.43 billion, representing a YoY decrease of 5.17%. Net profit attributable to shareholders of the company was RMB 1.50 billion, representing a YoY decrease of 2.59%.
Despite the emergence of new uncertainties in the external environment in 2020, Hikvision will proactively improve operating efficiency and manage risks to overcome the challenges and maintain steady development. Meanwhile, Hikvision will continuously provide advanced products and solutions through innovative technologies to help increase safety, efficiency and sustainability of communities and societies.