Hikvision Releases Full-Year 2023 and First-quarter 2024 Financial Results

Hikvision has released its full-year 2023 financial results, reporting a total revenue of RMB 89.34 billion, up 7.42% year-over-year. Net profit attributable to shareholders of the company was RMB 14.11 billion, achieving a year-over-year (YoY) growth of 9.89%. The total cash dividend (tax inclusive) amounted to RMB 8.40 billion, 59.52% of the net profit attributable to shareholders of the company.

The revenue from the company’s overseas main business increased 8.83% year-over-year to RMB 23.98 billion, 26.84% of the total revenue. The revenue from the domestic main business was RMB 46.81 billion, accounting for 52.40% of the total revenue, and the revenue from the innovative businesses was RMB 18.55 billion, representing 20.77% of the total revenue.

Hikvision also announced its first-quarter 2024 financial results. The company reported a quarterly revenue of RMB 17.82 billion, up 9.98% year-over-year. Net profit attributable to shareholders of the company in the first quarter was RMB 1.92 billion, representing a YoY increase of 5.78%.

In 2023, Hikvision achieved greater stability in its operations and continued to increase investment in research and development. The company has gradually built and improved its AIoT technology system, and launched scenario-based products and solutions for the digital transformation of businesses.