International. Hikvision reported its financial results for the third quarter of 2020, in which it generated revenues of RMB (Renminbi) 17.75 billion (about US$2,692 million), with a year-over-year (YoY) increase of 11.53%, and a net profit subject to distribution to the company's shareholders of RMB 3.81 billion (about US$578 million), reflecting YoY growth of 0.12%.
From Q1 2020 to Q3 2020, Hikvision accumulated total revenues of RMB 42.02 billion (approximately US$6,371 million) with YoY growth of 5.48%, and cumulative net income subject to distribution to shareholders of RMB 8.44 billion (approximately US$1,213 million), representing YoY growth of 5.13%.
The company explained that despite the unusual social and economic circumstances globally, they achieved solid growth during the first three quarters of 2020. "Looking ahead, Hikvision will continue to optimize operations, persistently innovate and work closely with its partners to overcome uncertainty and continue sustained development," the statement from the brand specializing in electronic security solutions reads.
