InHand Networks, a global leader in industrial IoT, has released its annual report and financial results of the year 2018. The past year has witnessed our continuous growth, registering total revenue of RMB 276 million, up by 20.59% year on year, and net profit of RMB 47 million, an increase of 44.11%.
In 2018, InHand Networks focuses on Smart Grid, Smart Manufacturing, Smart Vending, Transportation, Environment Protection, and Healthcare, with breakthroughs in some rapidly-developing vertical markets. The InHand Wireless Overhead-Line System (IWOS) and InHand Go Smart Vending System, have achieved remarkable progress in market expansion, and become our key business. The 20.59% YoY growth in total revenue is mainly driven by the substantial rise in the revenue from IWOS.
The factory in Jiaxing city was put into operation in July, 2017, with standard workshops and multiple lines to satisfy the demand for our rapid expansion. The new production system can better meet higher standards of InHand Networks’ production requirements, delivering more than 360 thousand IoT products worldwide in 2018. Our own manufacturing plant has been under construction and is expected to begin production by the end of 2019.
In 2018, InHand Networks has continued its efforts in global development. We exhibited at DistribuTECH, Elecrama, Hannover Messe, Venditalia, and other major trade shows around the globe, presenting our latest IoT products & solutions and building up our brand.
Up to the date the report is released, InHand Networks has acquired 37 patents, including invention patents, utility model patents and design patents.
To view the full 2018 Annual Report in Chinese, please click Here.