Surveillance specialist Hikvision has disclosed its full-year 2018 financial results that highlight a total operating income of RMB 49.84 billion for 2018, corresponding to year-over-year growth of 18.93%. Net profits attributable to shareholders of the company amounted to RMB 11.35 billion. This figure corresponds to year-over-year growth of 20.64%.
In 2018, the total operating income in the domestic market was RMB 35.65 billion, with year-over-year growth of 20.18%, while overseas operating income for the business amounted to RMB 14.19 billion, with year-over-year growth of 15.90%.
The overall results are described as “satisfactory” given the complex market environment and the slowdown in the domestic Chinese economy.
During 2018, Hikvision continued to expand the number of domestic provincial-level Business Centres and opened five new overseas subsidiaries as well as multiple new branch offices.
With confidence in the potential for future growth, the company maintained a high level of R&D investment and, indeed, now employs more than 16,000 R&D engineers. The workforce grew by 31% last year to attain a total figure of more than 34,000 employees.