Hikvision, the world’s leading provider of innovative security products and solutions, has reported a total operating revenue of RMB 23.92 billion for the first half of 2019, representing a year-over-year (YoY) growth of 14.60%. Net profits attributable to shareholders of the company amounted to RMB 4.22 billion, a growth of 1.67% YoY. The company also reported strong financial performance during the second quarter of 2019, with 21.46% growth YoY in total operating revenue and 14.98% growth YoY in net profits.
The Company performed a retrospective adjustment or restatement of previous accounting data for business merger under the common control and the first implementation of New Financial Instrument Guidelines.
The company maintained strong investment in R&D and accelerated development of trending technologies such as deep learning, big data, and intelligent IoT, which will enable the company to stay ahead of the curve in innovation for the security industry.
During the first half of 2019, the company further strengthened its operations at home and abroad with continued investment in local sales, marketing, and customer services operations.
Hikvision also sees its new businesses – EZVIZ, HikRobotics, Automotive Electronics, and Intelligent Storage – continue to flourish, gradually becoming a new source of development and long-term growth.