Recovering from COVID-19 impact, the surveillance equipment manufacturer is accelerating its path in research and development.
On December 1, 2020, Hikvision holds the commencement ceremony for its Zhengzhou Technology Zone. The technology zone is planned to be used for building a Hikvision middle area headquarter, an alarm services center, and other projects cooperated with CLP Group. It is estimated that the zone will gain a cumulative revenue of over CNY 10 billion in five years.
The company’s Q3 financial reports of 2020 show the company has recovered from the negative impact of COVID-19. From January to September, the company achieved revenue of CNY 42.02 billion, up 5.48% year-on-year, and the net profits contributing to shareholders reaches CNY 8.44 billion, up 5.13%. Its stock (002415: SH) rises over 35% since the beginning of 2020 giving the company a market capitalization over CNY 410 billion.
As a large, state-owned video surveillance equipment manufacturer, Hikvision pays great attention to the research area. In 2019, its R&D cost reaches CNY 5.48 billion and accounts for 9.51% of its revenue. The ratio increases to 11.28% in the first nine months of 2020. With the two developed Technology Zones in Wuhan and Hangzhou and the new one in Zhengzhou, the company is expected to become a leading flash solution provider in China.