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Chinese surveillance giant Hikvision stockpiles crucial parts to guard against potential US ban

Hikvision Digital Technology, China’s top surveillance camera provider, has sharply increased its stockpile of components and finished products amid concerns that the US may bar it from doing business with American suppliers like it did with Chinese telecommunications giant Huawei Technologies.The Hangzhou-based company reported an over 90 per cent surge in holdings of components and 30 per cent in finished goods over the past six months, saying that such a move was meant to ensure “sustained… Source link

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How 9/11 and China’s plan for blanket surveillance helped Hikvision and Dahua dominate the global CCTV camera market

China is famous for its one-industry towns. Gurao in southern Guangdong province is known for making bras. Qiaotou in Zhejiang province produces most of the world’s buttons. The city of Tianjin to the north is a major manufacturer of bicycles.Then there is Hangzhou’s Binjiang district, east of the Qiantang River that winds through the city, about 10 kilometres from the famed West Lake, a Unesco World Heritage Site. Once mostly farmland, the Binjiang district is now home to many manufacturers,… Source link

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Chinese surveillance camera supplier Hikvision posts slowest profit growth in a decade

Hangzhou Hikvision Digital Technology, a key camera supplier for China’s surveillance system, reported the slowest annual pace of profit growth in more than a decade amid growing headwinds in overseas markets. Net income in 2018 rose 20.5 per cent to 11.3 billion yuan (US$1.76 billion), the Hangzhou-based company said in a filing to the Shenzhen Stock Exchange on Thursday. Revenue climbed 23 per cent to 51.2 billion yuan. The company said it maintained a high level of investment into research development while continuing to develop domestic and overseas markets. Its…

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US-led backlash against China’s Huawei, Hikvision seen giving higher-cost rivals an opening to win contracts

Increasing resistance by the US and other governments to Chinese hi-tech companies such as Huawei Technologies and Hikvision is providing opportunities for suppliers from other countries to win business from their lower-cost competitors. In Australia, Chinese security camera makers Hikvision and Dahua have faced increased scrutiny after a report by Australian Broadcasting Corporation cited concerns raised by experts about the potential for these networks to be used for espionage. The two companies supply most of the surveillance cameras installed in Australia, according to the report. A Hikvision spokesman was quoted…

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