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Hikvision's Financial Results for 2024 and Q1 2025

Hikvision, a global leader in security technology, has released its financial results for the full year 2024 and the first quarter of 2025. The company reported a total revenue of 92.496 billion RMB for 2024, marking a year-on-year growth of 3.53%. In the first quarter of 2025, Hikvision achieved a revenue of 18.532 billion RMB, which represents a 4.01% increase compared to the same period last year.

The net profit attributable to shareholders amounted to 2.039 billion RMB, showcasing a 6.41% increase on a yearly basis. This continued growth reflects Hikvision's strong market presence and stability in the highly competitive security industry.

Innovations and Market Expansion

Over the past two decades, Hikvision has solidified its position as a premier figure in the realm of security solutions, developing an extensive AIoT ecosystem that encompasses over 30,000 products. The company remains committed to innovative progress and steady advancements, confronting global uncertainties with a cautious yet proactive approach.

In 2024, Hikvision emphasized its dedication to research and development, investing 11.864 billion RMB in R&D, which accounted for 12.83% of its total revenue. By establishing a multi-level R&D system, the company has optimized its capabilities not only at its headquarters but also across key international locations. Key innovations include the application of large-scale AI models, which enhance product intelligence by integrating advanced functionalities like vision and language.

For instance, in perimeter protection, Hikvision's new wide-vision model has successfully reduced false alerts by up to 90%. This improvement highlights the effectiveness of Hikvision's recent technological breakthroughs and their practical applications in real-world scenarios.

Global Performance

Hikvision's international revenue reached 25.989 billion RMB, constituting 28.10% of the company’s total income with a year-on-year growth of 8.39%. This revenue surge is attributed to the increasing demand in over 180 countries and regions, with developing markets contributing more than 70% to the total international sales. The ongoing growth in foreign revenue has been pivotal in driving the overall profitability of Hikvision.

Despite global challenges, Hikvision is dedicated to maintaining its leadership in the domestic security market while continuing to explore growth opportunities abroad. The organization’s focus on profitability is evident in its ongoing transformation efforts which refine management practices to ensure sustainable, long-term growth.

Future Outlook

Looking ahead, Hikvision is committed to implementing a high-quality growth strategy that will prioritize innovation, enhance operational efficiency, and ensure sustainability. The company’s vision remains firmly rooted in harnessing technological advancements to facilitate a digitized future across various industries.

In conclusion, Hikvision’s impressive financial milestones for 2024 and early 2025 depict a robust growth trajectory supported by strategic innovations and a strong commitment to global expansion. The company's proactive investment in technology and solid performance metrics indicate a promising future in the security technology landscape.