Hikvision announces full-year 2019 and first quarter 2020 financial results

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Hikvision Digital Technology Co., Ltd.

30 Apr, 2020, 14:17 GMT

HANGZHOU, China, April 30, 2020 /PRNewswire/ -- Hikvision, an IoT solutions provider with video as its core competency, has released its 2019 Annual Report. In 2019, Hikvision generated a total revenue of RMB 57.66 billion, having achieved a year-over-year (YoY) growth of 15.69%, and net profits attributable to shareholders of the company was RMB 12.41 billion, reflecting a YoY growth of 9.36%.

This image opens in the lightbox — Hikvision Full-Year 2019 Financial Results: 15.69% YoY Growth

Key accounting data of Hikvision Full-year 2019 Financial Results
	2019	2018 (after adjustments)^[1]	YoY Change (%)
Operating income (RMB)	57,658,110,065.22	49,837,132,481.61	15.69%
Net profits attributable to shareholders of the company (RMB)	12,414,587,690.45	11,352,132,255.21	9.36%
^[1] Retrospective adjustment or restatement reasons: business merger under the common control

The total overseas revenue amounted to RMB 16.24 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 RMB 2.59 billion, seeing a 58.38% YoY growth. And the robotics business generated a revenue of RMB 813.99 million, with a YoY growth of 23.88%.

In 2019, Hikvision's R&D spending was RMB 5.48 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 a revenue of RMB 9.43 billion, representing a YoY decrease of 5.17%. Net profits 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.

About Hikvision

Hikvision is an IoT solution provider with video as its core competency. Featuring an extensive and highly skilled R&D workforce, Hikvision manufactures a full suite of comprehensive products and solutions for a broad range of vertical markets. In addition to the security industry, Hikvision extends its reach to smart home tech, industrial automation, and automotive electronics industries to achieve its long-term vision. Hikvision products also provide powerful business intelligence for end users, which can enable more efficient operations and greater commercial success. Committed to the utmost quality and safety of its products, Hikvision encourages partners to take advantage of the many cybersecurity resources Hikvision offers, including the Hikvision Cybersecurity Centre. For more information, please visit us at www.hikvision.com.

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