In this Research Note, we examine the Chinese video surveillance giant, Hikvision (Hangzhou Hikvision Digital Technology Co., Ltd) focusing on 2021 financial results and the group strategy to broaden its remit beyond its video surveillance business, based on their 2021 Annual Report and Memoori analysis.  Hikvision is the world’s largest manufacturer of video surveillance equipment. Established in 2001, the Company was listed on the Shenzhen Stock Exchange in May 2010. Hikvision has more than 52,700 employees. The company has established 66 sales branches and service offices, as well as 3 manufacturing plants and 11 logistics centers in the overseas market, operating business in 155 countries and regions. In 2021, Hikvision generated a total operating income of RMB 81.42 billion (over USD 12.3 billion), having achieved a year-over-year (YoY) financial growth of 28.21%. Net profit attributable to shareholders of the company was RMB 16.80 billion (USD 2.5 billion), reflecting a YoY growth of 25.51%.   China’s domestic market accounted for 73% of Hikvision’s operating income, compared […]