Takeaways from 2021: Overcoming Challenges to Sustain Success
As we come to the end of 2021, we’re grateful to have faced challenges and sustained success thanks to our dealers, customers, partners, and our team. This year brought many things to celebrate.
While COVID is still impacting our lives and our businesses, this year we saw the return to in-person events and were glad to host numerous product expos, introducing our latest innovations to customers across the country. We also continued our virtual training classes on everything from our 4G Solar-Powered Security System to Cybersecurity Education, with many of these courses easily accessible online at our Learning Portal.
Despite record backlogs in the supply chain, we were able to keep many core products on the shelves at our distributors, and help customers in the field with attention from our sales engineer and other support services. We elevated several engineers to “Expert Level,” understanding that attentive service and personalized support is the key to our success, in addition to innovative products, that makes these solutions easier to deploy in the field.
Our customers were extremely responsive to our second generation ColorVu G2 camera models that couple 24/7 full color with enhanced detection of humans and vehicles using our proprietary AcuSense technology. Many cannabis growers discovered that the 8 MP ColorVu G2 Fixed Network Camera (DS-2CD2087G2-L) excelled for surveillance in fields. And our 4G ColorVu Solar-Powered Security System is very popular for securing temporary construction sites and other remote areas without traditional power or connections.
“The organization has faced challenges, notably global supply chains, and this requires flexibility and planning to assure security solutions are available to partners in the U.S. and across the globe. Our third quarter financial growth reminds us that our investment in our people, our partners, our dealers, and communities is invaluable. We remain committed to the North American market,” said Tony Yang, President, Hikvision USA, in a recent press release.
Our commitment and continued support for customers was acknowledged by third parties too. Hikvision USA was awarded a 2021 SSI Stellar Service Award in the Sales/Marketing Assistance category, and a Supplier Growth Award from our partner, The Edge Group. The annual Edge Group’s Supplier Growth Awards celebrate the three preferred suppliers who experienced the greatest growth in a 12-month period.
Our financial reports throughout the year reflected our sustained growth amidst challenges. In our first half of 2021 financial period, we reported revenues of $5.25 billion (RMB 33.90 billion) with a year-over-year (YoY) growth of 39.68%. In the third quarter of 2021, we gained $3.4 billion (RMB 21.73 billion) in revenue with a year-over-year (YoY) increase of 22.41%.
It has been a successful year and we thank you for your support throughout 2021. We look forward to continuing our partnerships in the New Year!