Hikvision releases full-year 2023 and first-quarter 2024 financial results

HANGZHOU, China, April 29, 2024 /PRNewswire/ -- 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. Looking forward, Hikvision remains committed to creating value for customers and empowering the digital transformation of the community and businesses with its technologies.

The full annual report 2023 and Q1 2024 report can be found here.