Chinese company Hikvision's net profit sat due to coronavirus

Leading Chinese supplier of security products and solutions Hangzhou Hikvision Digital Technology Co. Ltd. reported a fall in net profit and revenue in the first quarter of 2020, Xinhua news agency reported on April 24. For the first quarter of the year, the company's net profit fell by 2.6% year-on-year to 1.5 billion yuan (about $212 million), while the company's turnover 5.2% by up to 9.43 billion yuan, according to the company's quarterly report. Hikvision disclosed its financial results for 2019. In particular, it became known that net profit for the years of the company increased by 9.4% year-on-year to 12.4 billion yuan, while revenue for the year increased by 15.7% to 57.7 billion yuan.