Hikvision announces Q1 and Q2 2021 financial results with approx 40% YOY growth
August 6, 2021 By SP&T Staff
Hikvision recently released its financial results for the first half of 2021, indicating company optimism and market resilience.
During the reporting period, Hikvision generated revenues of US$5.25 billion (RMB 33.90 billion) with a year-over-year (YoY) growth of 39.68%. Net profits attributable to shareholders of the listed company were US$1 billion (RMB 6.48 billion), reflecting a YoY growth of 40.17%.
“While uncertainties remain, the sustained growth we’ve experienced in the first half of 2021 renews our optimism in the resilience of the global marketplace and shows us the importance of innovative security products. We will continue our focus on developing solid products that enable safety and security, while working closely with our partners,” said Tony Yang, President, Hikvision USA, in a statement.
Hikvision’s revenue in overseas markets amounted to US$1.5 billion (RMB 9.47 billion), with a YoY increase of 25.53%.
In the first half-year of 2021, Hikvision said it further expanded its investment in R&D to US$600 million (RMB 3.88 billion), which accounted for 11.44% of revenue.
Hikvision said it is “committed to continued investment in R&D and technical innovation while focusing on optimizing its operations.”
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