Hikvision Q1 2020 Revenue Drop

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%. 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%. 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.