Hikvision announced its preliminary earnings results for the full-year 2016, with revenues of about US$4.67 billion, amounting to a 26.69 per cent growth rate year on year. The operating profit was $998 million with a growth rate of 24.84 per cent and the total profit at $1.2 billion with a growth rate of 23.56 per cent.
According to the company, the main attributions are the continuous investment in R&D for technology innovations, complete product development system and comprehensive vertical solution capability; with further expansion of global business and marketing network, management and operation efficiency improvement.
Hikvision announced the acquisition of Pyronix in May 2016, converging 2 security technologies in video surveillance and intrusion detection, further to bring new advancements and innovative products to the market. In 2016, Hikvision also expanded the global network, opening new offices in Netherlands and Russia, South Korea and Khazakstan, and expanded the office in the UK, Middle East and the USA, to better support the local market.
In 2017, the company has also announced the establishment of Hikvision R&D Center and Research Institute in North America, aimed to providing innovative, cutting-edge technology products tailored to the needs of worldwide partners and customers. ♦