#China #Hangzhou #financial results #Hikvision #security market

Hikvision Financial Results Overview

Hikvision, a leading player in security technology, has recently released its financial results for the entire year of 2024 and the first quarter of 2025. The company recorded total revenue of 92.496 billion RMB in 2024, marking a year-on-year increase of 3.53%. For the first quarter of 2025, Hikvision reported revenues of 18.532 billion RMB, reflecting a 4.01% growth compared to the same period the previous year. The net profit attributable to shareholders reached 2.039 billion RMB, which corresponds to an increase of 6.41% year-on-year.

Hikvision has established itself as a global leader in the security sector over the past two decades, focusing on the development of a robust AIoT ecosystem that includes more than 30,000 products. The company continues to demonstrate a commitment to steady progress, confronting uncertainty with a positive and cautious outlook. Its leadership in the domestic security market has been complemented by efforts to expand into international markets and innovate in its offerings. The emphasis on profitability is accompanied by a drive for organizational transformation and refined management practices aimed at fostering long-term sustainable growth.

International Growth and Innovation

In the past year, Hikvision has fortified its international presence, with 25.989 billion RMB stemming from international markets, accounting for 28.10% of its total revenue and representing a 8.39% increase year-on-year. This surge in international revenues spans over 180 countries and regions, with emerging markets making up more than 70% of the total. The increasing performance of Hikvision's global business has played a crucial role in driving the overall profit growth of the company. Moreover, its innovation sectors have also flourished, contributing 22.484 billion RMB in revenue.

Hikvision continues to prioritize research and development (R&D), investing 11.864 billion RMB in R&D in 2024, which is 12.83% of its total revenues. Over the years, the company has created a multi-tiered R&D system centered on the capabilities of its headquarters while extending its reach to key regions both nationally and internationally. Notably, Hikvision actively promotes AIoT technologies, enhancing its large-scale AI models, such as Guanlan, which integrates visual, linguistic, and multimodal capabilities. These advancements significantly improve the perception and cognition of Hikvision's products and solutions.

For example, in perimeter protection, their large-scale vision model can reduce false alarms by 90%. Looking towards the future, Hikvision remains committed to a high-quality growth strategy, with renewed focus on innovation, improved efficiency, and ensuring sustainability for the long haul.

In summary, Hikvision's resilient financial performance in 2024 and the optimistic results for the first quarter of 2025 underscore the company's strategic direction towards innovation and global market expansion. As Hikvision continues to leverage cutting-edge technologies and expand its international footprint, it is poised for ongoing success in the competitive landscape of security technology.