China Dali Fever Cameras and Booming Sales Examined

By Isabella Cheng, Published Sep 11, 2020, 09:48am EDT (Info+)

Zhejiang Dali, one of China's original thermal technology developers, has seen significant growth in the last half-year due to booming fever camera sales overseas.

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In this report, based on speaking on Dali, we examine the company's:

  • Origins
  • Offerings
  • H1 2020 financial performance
  • Overseas sales boom
  • Overseas margins soar
  • Previous expertise in epidemic products
  • Fever detection offerings
  • Opportunities and risks

*******

******** **** ********** **., ***.*** *********** ** **** **** *** predecessor ******** ******* ********** ********* ***** was ******* ** ****. ******** ******* Technology *********'* ************* *** **** ** China's ******** ****** ** *** **** 1990s ** ***** *****-***** *********** **** corporatized. ** *** ****** ** *** Shenzhen ***** ******** ** **** *** was *** ***** ***** ** ********** company ** ** ******. **** ** headquartered ** ********, ********, ***** ********* and ***** **** **** ***** ************. Dali ******* * *&* *******, ** Hangzhou *** ********, *** **** *** employees.

Background ****

**** *** **** ********, ************, *** sells ** ********** *** **** ******* and ***** *** *** ******** ***** camera ******* ***** ******* **** *****, FLIR, *********, ***. **** **** **** they *** ******** ****** ** ****** and **** ***** ***** ****** ******* overseas.

**** ****** ** ** *** ** the *** ******** ***** ************* **** can "*********** ******* ******* *** ******* ******** the ***** ******** *****, ******* **** thermal ******* **********-******* **** ******* *** core ******* ** ******** ******* ******* systems."

**** ** **** ******* ** ******** and *********** ** ********-*** ********, *** Level * ******** ********* *** ** privy ** ********** ***********,********* ** *** **********. ** *** ****, ************ **% ** ******* ****** ******* Technology, * ******** ******* *&* *******, for ** ******* *** (~$*.* ******* USD)** ********* * *** *&* ****** in ******* *** ****** *** ********-*** business.

********* ** ****'***********, ** **** *** **** *** state-controlled ************ ***** *** *** ** shareholders. **** ******, *** ******** ** Dali, ** *** ******* *********** ** the ******* **** **% ** ***** shares.

169% *** ******* ****** ** $** ******* ***, ***% *** ****** ****** ** $** ******* ***

**** *** *********** ***** *** ****** growth ** ** **** *** ** increased ****** *** ***** ********* ******** in *** *****-** ********. *** ***** 6 ******, ****'* ******* **** *** ~$95 ******* *** ** ***% *** while ******* **** ***% ** ~$** million *** (******* ***** ** ***):

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**********, *** ******* *** ********* ****** margins ** ~**% *** ** ****.

** *** *** ** ** ****, Dali *** ******* **** **** ******* and ******* **** ** *** ** all ** ****. ****'* ******* *** been ******* **** *** **** *** years ***** * ***** ********** **** 2015-2017.

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******* **** ******** *** **** ******* trend ** *******.

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Overseas ***** ****

****'* ******** ***** **** **** *,***%, from $*.* ******* *** ** ** 2019 ** $**.* ******* *** ** H1 ****.

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****'* ******** ***** **** **** ** the **** ****, *** *** ** nearly ** ****. ***** * **** ago ****'* ******** ******** *** **** 5% ** *** ***** *****, *** it ** ****** **% ** *** sales.

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** *** **** ********** ******** ****, **** **** ** *** **** over **,*** ***** ****** ***** **** domestically *** ********. *** ******** ****** have ******** *** ******** ******, **** most ******** ****** ***** ** "*** EU, **, *** ***** ********* *********."

Overseas ******* ****

****'* ******** ******* ********* ** ** percentage ****** ***, ***** *** ** explained ** ****'* *********** ***** ** fever ******* ********. *** *******, ** April ****, **** ********* * **** in ******* *********** ******** ******** ******* $**.* million ******** ** ******* *******.

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** **** *** ********** ********,********************* **** **** ***** ******* ******** in ** **** *** ** ***** camera *****. *******, ***** *** *********'* margins ********* ****** **% (***** ** already ****), *** ** * ********** small ******** ******** ** ****'* ******* growth.

** ******* ******** ****, **** *** ***** ******* ** would ** **** ** ******** *** relatively **** ***** ******* (**.**%) *** IR ********. **** ******* **** ** has *** ********** ** **** ***** and ******** ***** ******* ******* *** products *** ********** ******** *** **** high ******** ** *****. **** **** said *** *******'* ******* ******* **** using ****-************ ********** ** *** ******** products.

Previous ********* ** ******** ********

****** **** ***** ************ ********* *** only ******* ****** *********** ********* ******* after *** *****-** ********, **** *** been ******** ***** ******* *** *****. Dali **** **** **** **** **** manufacturing ***** ******* ***** ** ***** 2003:

**** ********* **** ** **** ******** prevention ** ****. ** **** *********** a *** ** **** ** *****.

****'* ****** ******* ***** ********* ******** **, ****, ********* *******-****** ****** ****** *** ********** *** use ** ***** ****** ******* ****** the ***** *** ***** *** *********. Cases ** *****-** **** ***** ********** *** *** ** ******** ****** *****, *** **** *********, *** larger ***** ************ ********* ***** ** make *** **** ***** *** ***** detection *******.

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Fever ********* *********

**** ****** * **** ***** ********* products: * *****-***** ****** *** * handheld *********** ********* ******. **** ***** them ******** ** *******, ** **** as**** ** ********* * *****-***** *********** ******.

*** *****-***** ****** ** ****** *** DM60-W ****** *** *** * ********* options. *** ******* ******** ********** ****** from "*****" (*******) ** "********" (*******). The ****-* ****** ***** **** * blackbody *** ******* * *********** ******** of ≤*.*°*.IPVM Image*** *********** *** ***** ******* ** the ******* ******** **********, ******* **** 1 ***** *** *** *** ** 10 ******. **** **** ****** *****-****** detection, ** ** ***** ***** ***** camera *************, ***** ***** ******* ****** distancing **********.

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*** ******** ****** ***** ** * different ******* ****** *********** (*******, *******) and **** ** ******* * *********. This ****** *** * *********** *** range ** *-* ******.

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** *******, *** ******** ******* ***** from ***-*** *** (~$**-*** ***), ********* on ******* ** *** *** ****** comes **** * *********. *** ****-* Series ***** **** *** ($*** ***) and **** *** ($*** ***), ************, for ******* **** ******* *** ******* resolution ******* *******. ******** ****'* ******* offers ***** ********** *******, **** *** not ********* ** **** ******* *****. The ****-* ****** ** ******** **** expensive ******** ** *********** *********, *****, Sunell, ***. ***** ***** ****** ******* range **** $**-*** ***.

Opportunities *** ***** *** ****

***** **** *** *** *********** ** make **** ***** ********, *** ***** camera **** ***** ** * *****-**** boost ** ******** **** **** **** once *** ***** ** *********. *****, Dali *** **** *********** ***** ********, as ***** ** *** **** * months, ******* *** ******** ***** *** not **** ***** ********** ******* ** China. ******** **** ** ******* ** revenue **** ***** ************ ******** ****** Dahua *** *********, **** *** * documented ******* ** ** ******* *********** and *************. *******, **** ** *** restricted ** *** **** *** ** the ** ** ***** *** ********* are. *******, *** ***** ****** **** could ** *****-***** ** ********* ******* of ***** ********** **** ** ******* their *********.

Comments (5)

Back in circa. 2007 DALI used also make analogue DVRs and OEM/ODM'ed for various western brands, one of the major ones was Panasonic (can't remember the series of DVR)

Agree
Disagree
Informative
Unhelpful
Funny: 1

Kinda looks like ICI - any relationship between the two companies?

Agree: 1
Disagree
Informative: 1
Unhelpful
Funny

There was discussion of this in comments on our ICI post, as well. The short of it is: there seems to be a relationship, but ICI will not comment on it, and they've been totally unresponsive to us since.

From that thread:

We've been unable to get complete confirmation from ICI on exactly what components ICI is using, but others have told us and they have confirmed that they use American sensors. There is a relationship with Dali, as others have pointed out, but it's unclear exactly what Dali is providing and what is ICI's own design.

Some users pointed out similarities between Dali's UI and ICI's (also in that comments string), but other ICI UIs look nothing like Dali, so it very well could vary on a product-by-product basis, as well.

Agree
Disagree
Informative: 3
Unhelpful
Funny

Its overseas orders have exceeded its domestic orders, with most overseas orders going to "the EU, US, and other developed countries."

I have not seen these guys in my LatAm coverage but now that I know about them, I will keep my eyes open.

On Alibaba, the handheld systems range from 44K-88K RMB (~$6K-12K USD), depending on whether or not the system comes with a blackbody. The DM60-W Series costs 112K RMB ($16K USD) and 208K RMB ($30K USD), respectively, for systems with 384x288 and 640x480 resolution thermal imagers.

This probably explains why I haven't seen them or heard about them in my LatAm coverage. In addition to Hikvision, Dahua, and Sunell, it would be interesting to see how their prices compare to non-PRC competitors such as Axis and Hanwha.

Agree
Disagree
Informative
Unhelpful
Funny

The other reason you may not see them is that their channel structure is not as well developed as Dahua, Hikvision, and Sunell. It's hard to get people to buy your product if you don't have a way to get local resellers / partners, etc. to sell it for you.

Agree
Disagree
Informative: 1
Unhelpful
Funny
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