Hangzhou Hikvision Digital Technology : Hikvision releases full-year 2020 and first quarter 2021 financial results
April 22, 2021 at 05:49 am EDT
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Hikvision releases full-year 2020 and first quarter 2021 financial results
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April 22, 2021 - Hikvision, an IoT solution provider with video as its core competency, has released its full-year 2020 financial results. In 2020, Hikvision generated a total revenue of RMB 63.50 billion, having achieved a year-over-year (YoY) growth of 10.14%, and net profits attributable to shareholders of the company was RMB 13.39 billion, reflecting a YoY growth of 7.82%.
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%. Net profits attributable to shareholders of the company in the first quarter was RMB 2.17 billion, representing a YoY growth of 44.99%.
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% in 2017 to 8.99% in 2018, 9.51% in 2019, and 10.04% in 2020.
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.
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Hikvision Digital Technology Co. Ltd. published this content on 22 April 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 April 2021 09:49:02 UTC.
Hangzhou Hikvision Digital Technology Co, Ltd. is one of the world's largest video surveillance equipments distributors. The group provides digital video recorders, network video recorders, high definition IP camcorders, compression cards, digital video servers and speed domes.
China accounts for 71.5% of net sales.