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2016 proves to be year of “solid growth” as CCTV specialist Hikvision unveils positive financials

Posted On 24 May 2017
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Hikvision has released its official 2016 financial results and, as preliminary reports from the company indicated, 2016 was a year of “solid growth”. Highlights include total revenues of $4.6 billion, a 26%increase in net profits and plans to establish an R&D Centre in Montreal as well as a dedicated Research Institute located in California’s Silicon Valley.

Calling these highlights “concrete results and commitments upon which integrator partners can depend”, Jeffrey He (president of Hikvision USA Inc and Hikvision Canada Inc) also explained the significance of the latest financials by stating: “The results show tremendous topline growth, but it’s important to note the bottom line growth as well. Overall revenue increased by 26.32% year-over-year from $3.6 billion (RMB ¥25.2 billion) in 2015 to $4.6 billion (RMB ¥31.9 billion) in 2016. Our gross profit margin was 41.58%. That’s a 1.42% increase over the 2015 gross profit margin of 40.16%. Our net profits were up 26.46% at $1.0 billion (RMB ¥7.4 billion) in 2016 compared to $841 million (RMB ¥5.8 billion) in 2015. The CAGR from 2010 (at the time of the IPO) to 2016 is 44%.”

What were the important factors contributing to Hikvision’s growth statistics? According to Jeffrey He, one of Hikvision’s core competencies is R&D: “Our growth is a direct result of our R&D technology innovation capability, our secure products, growth in overseas markets including North America and our continuous efforts to optimise operating quality and efficiency. Hikvision typically reinvests about 7% to 8% of overall revenue into R&D. In 2016, the business invested $348 million (RMB ¥2.4billion) or 7.62% of overall revenue in R&D. The 2016 R&D investment was 41.26% higher than the 2015 investment of $249 million (RMB ¥1.72 billion).”

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About the Author
Brian Sims BA (Hons) Hon FSyI, Editor, Risk UK (Pro-Activ Publications) Beginning his career in professional journalism at The Builder Group in March 1992, Brian was appointed Editor of Security Management Today in November 2000 having spent eight years in engineering journalism across two titles: Building Services Journal and Light & Lighting. In 2005, Brian received the BSIA Chairman’s Award for Promoting The Security Industry and, a year later, the Skills for Security Special Award for an Outstanding Contribution to the Security Business Sector. In 2008, Brian was The Security Institute’s nomination for the Association of Security Consultants’ highly prestigious Imbert Prize and, in 2013, was a nominated finalist for the Institute’s George van Schalkwyk Award. An Honorary Fellow of The Security Institute, Brian serves as a Judge for the BSIA’s Security Personnel of the Year Awards and the Securitas Good Customer Award. Between 2008 and 2014, Brian pioneered the use of digital media across the security sector, including webinars and Audio Shows. Brian’s actively involved in 50-plus security groups on LinkedIn and hosts the popular Risk UK Twitter site. Brian is a frequent speaker on the conference circuit. He has organised and chaired conference programmes for both IFSEC International and ASIS International and has been published in the national media. Brian was appointed Editor of Risk UK at Pro-Activ Publications in July 2014.
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