HIKVISION has announced a $US1.5 billion investment plan to construct 4 new R&D centers and 2 new industrial bases to expand surveillance equipment manufacturing and general R&D in 4 Chinese cities.
As security concerns and cybersecurity risks increase worldwide, Hikvision anticipates demand for its conventional security business will continue to grow steadily.
Hikvision said it would use accumulated profits to fund the project and may seek additional financing methods from traditional sources such as loans. Hikvision said its fixed asset ratios will remain low and operational cash flow will continue to be robust.
Hikvision’s new R&D Centers will be constructed in the Chinese cities of Xi’an, Wuhan, Chengdu and Hangzhou. Industrial bases planned for the Chinese cities of Chongqing and Wuhan will improve Hikvision’s manufacturing capacity and production scale for security and innovative new technologies.
Hikvision’s planned investment project is expected to be completed by the end of 2021. ♦