The United States once again forbids the US federal government from purchasing video surveillance equipment supplied by Chinese manufacturers on the grounds of national security. The two listed companies in Zhejiang, Hikvision and Dahua, unfortunately lie down. Let's take a look at the relevant content with the security electronic editor.
Hikvision has been tolerant of low-key behavior. On May 26, Hikvision issued an official statement that the proposal to prohibit the US federal government from purchasing video surveillance equipment from Chinese companies such as Hikvision has no factual basis and evidence. The allegations of the proponents carry obvious subjective conjectures and prejudices. The company will keep a close eye on the bill process and resolutely defend the company's reputation and legitimate interests.
The United States repeatedly talks about "national security"
Essentially trade protectionist measures
On May 24, the US House of Representatives passed a bill, including an additional proposal. The supplementary proposal proposes to prohibit the US federal government from purchasing video surveillance equipment supplied by certain Chinese manufacturers for national security reasons. In addition to Hikvision and Dahua shares, ZTE and Hytera are also included in the list of prohibited transactions. At present, the bill is in the legislative process of the US Congress and has not yet been finally passed and become effective.
Data show that in 2017, Hikvision's overseas revenue was 12.2 billion yuan, accounting for 29.22%; domestic revenue was 29.7 billion yuan, accounting for 70.78%. Overseas income is an important part of its business income.
Dahua's overseas revenue accounted for a higher proportion. In 2017, its overseas revenue was 6.8 billion yuan, accounting for 36.12%. Hainengda's overseas revenue in 2017 was 3.2 billion yuan, accounting for 60.34%.
As the country with the highest technological level in the world today, the US market is the most valued market by Hikvision. The company's first overseas branch was opened in the United States, and after many years of hard work, it has achieved quite good results. In 2016, it ranked second in the US market. Hikvision has not only become the leader of the global video surveillance industry for many years, but also the leader of the global security industry.
Shen Wanhongyuan Securities Investment Consultant Li Qing believes that the United States has repeatedly prohibited the purchase of goods from Chinese companies on the grounds of national security, including the previous prohibition on the purchase of Huawei products, which is essentially a protectionist measure. "The adoption of the proposal does not rule out that it is the result of the relevant interest groups promoting behind it, and it is likely that Hikvision and Dahua's competitors in the United States have taken a stand."
Once the proposal is approved and effective
How much does it affect Hikvision
Hikvision and Dahua shares were included in the list of prohibited transactions, and how much impact did the company have? Li Qing believes that once the proposal is finally approved and effective, its symbolic significance is greater than actual significance.
Take Hikvision as an example. On the one hand, the company ’s revenue is more than double the domestic market, and the domestic market is still the company ’s main market; on the other hand, Hikvision ’s products are exported to more than 100 companies worldwide. In many countries and regions, the US market accounts for only a small part of its overseas market. Moreover, the bill passed by the US House of Representatives means that the federal government cannot purchase Hikvision and Dahua equipment, and it does not prohibit private purchases.
Hikvision has previously been recognized in the US market and has become a global leader in video surveillance and the entire security industry, which has proven its ability and level. By the end of last year, Hikvision had 37 overseas branches and 106 overseas service points. Moreover, the main business of Hikvision has developed from a single security surveillance to the video Internet of Things in the past, forming a diversified and intelligent video service system, providing video visualization and video structured big data solutions for more industries .
In addition, the company has also made good progress in innovative businesses such as Internet video (fluorite), robots, automotive electronics, infrared sensing, and smart storage, further expanding the company's development space. Among them, fluorite's revenue last year has exceeded 1 billion yuan and achieved profitability, becoming Hikvision's first profitable innovative business.
In fact, although the protectionist measures adopted by the United States can cause some troubles for the growth of Chinese enterprises, they cannot stop the progress of Chinese enterprises. Although Huawei was repeatedly banned from entering the US market, its revenue last year exceeded 600 billion yuan.
In the stock market, Li Qing believes that Hikvision and Dahua shares are included in the list of prohibited transactions by the US House of Representatives, and short-term will affect the stock prices of Hikvision and Dahua shares. However, the drop in the share price of Hikvision and Dahua last week has already released the risks brought by this bearishness to a certain extent. "After opening on Monday, the stock price is estimated to fall inertially. But in the medium and long term, it will have little effect, and its stock price will still follow its own operating rules."
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