Hikvision To Control Ezviz Post-IPO, SOEs Buying 30% of IPO
Hikvision spinoff EZVIZ will IPO with 30% of its public shares bought by five PRC state-owned enterprises.
In this report, IPVM examines:
- The approval of EZVIZ's IPO
- The 30% purchase by the five state-owned enterprises
- Direct links between the investors and the PRC government
- EZVIZ's 2022 revenue
- Market capitalization estimation
- Government intervention in PRC IPOs
For our previous coverage on EZVIZ, see Hikvision Ezviz Spinout, IPO Filing and Financials Examined, Ezviz = Hikvision = PRC Government, and Hikvision: Created And Controlled By China PRC Government.
IPO ********
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Hikvision ***** *********** ***********
***** ** *** *** ****** (*** *** **** ****** ***+ **** prospectus), ********* *** * *********** *********** with * **% ***** *** *** remaining **% *** ***** ** *** equity ********** *******,****** ***********:
**** *** ******* **** ******, ********* will ***** **** *** ******* ***** at **%, ****** *********** **** **** 32%, *** **% ** *** ****** will ** ******* ** *** ****** at ***.
Five *** **** *** **% ** ****** ******
*** ** ***** **% ****** ******, five "********* *********" (战略投资者) **** *** 33,750,000 ****** ** **% ** ****** 677 ******* **** ** $** ******* USD. **** ***** *** **,***,*** ****** bought **** ******* *** *% ** the ***** ****** ** ****** (*.*. 30% ** **%).
PRC *** ********* ********
*** **** ********* ********* *** *** state-owned ***********, ********* ** ********** ************ ****** ** ********* *********:
- ***** ****** ******** *********** ***. 国新投资有限公司** ** ********** ********** ** *** State-Owned ****** *********** *** ************** ********** of *** ***** *******.
- ******** ***** ********* **** 浙江省国有资本运营有限公司** * **** *** ** *** provincial ********** ** ********, ***** ********* is *************.
- ******** ******* ********** ********** **. *** 浙江金控投资有限公司** * ******* *** ** *** Zhejiang ********** ********** ** *******.
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- ***** ************* ******* ********** ** 中国国际金融股份有限公司,***. ** ** ********** **** **************** ************* *** *** **********.
2022 ** **** *.**%
*****'***** ****** ****************** *** **** ******* ** *** first **** ****** *** ************* $*** million ***, * *.**% *** ********:
*******, ****'* ************ **** * ****** decrease ** ** ** ****, **** a ******* ** ~$*** ******* *** and * *.**% ******** ***:
*** ****** ** ** ** **** has **** ********* ** **.**% *** in ***** ** * *.**% ******** in ******* *** *** ***** **** of *** ****. **** *** *** reflect ******* ******** *** ************* ******** the *** ***** ***** *** ***'* zero-COVID ******.
Moderate ******** ** ****** **************
*****'* *** ***** *** *** ** 28.77 **** *** *****. **** * total ** ***,***,*** ******, *** ****** capitalization **** ** ****** ** ******* Yuan ** $*.* ******* ***. **** estimation ******** * ** *****-**-***** ***** which ** ********** ******, ******** ** Hikvision's ** *****-**-***** *****.
Government **** ******* ********* ***
** ******** ****, *** *.*. ******** Department********** *** ** **** *********, ***** ******* *** ******* ** its ***. **** *** ******* ********** its $*** ******* *** *******, ** also *** ******* ** ********** **** *****-****** ***************** $*** ******* *** **** *****-********* Reform ****, $** ******* *** **** a ******** ********** ****, $* ******* USD **** ********'* ** ****, *** $5 ******* *** **** *****-***** ******* Culture & ******* *** *****-****** **** Kong ******* *** ********** ***** ***********.
Trading *** *** *****
***** *** *** *** ***** ******* on *** ********, ****** ********** ** **** ** ******** **.
*** *** ************ ***** ** ******** 20, ** ******* ** ******** ** begin ******* *********. **** **** ****** this ****** **** **** **.
********'* ************, *** *** ***** ******* ** December **, ****.
*** ********* ************* *.** ******* ***** ~ $*** ******* ***. ***** settled ** **.** *** ($*.** ***) per ***** ** *** *** ** the ***** ***. *** ***** **** up ** **.** *** ($*.** ***) at *** ***** ** *** ****** on ******* *, ****.