Financial ********
********* ************* / ******** business ******** * **** 6 ***** **** ** gross *******:

**** ** * ***** **** as ***** ****** ********** tend ** **** ****** a *** ******, ** most, *** ****.
*** ******** **** *** Hikvision ** **** ***** domestic ******** (***** ******* competitors *** *********** ******), **** up * ******.
*** *********** ***** *** very ********* ******* **** historically ***** *** ******** business *** **** ****** gross ******* **** ********, e.g.,**** *** ** **** results:

*** ******** ******** ***** much ****** ***** ******* because *** **** ** doing ******** ** *** US *** *** ** is *** ****** *** the ***** ** ******** they **** ***** ** much *****.
Exhange ***** ******* *** ** *** *******
********* ***** "******** **** fluctuation *** ******** ******* structure ******" ** ****** for *** ***** ****** drop. ***** *** ***'* fall ******* *** *** has ****** *** **** recently, ******* *** **** has ********** ** *** same ***** **** *** past * *****, ******** the ****** **** ***** have, ****** *** ***** *****:

Sales ***** ** *************
******* ******** ********* *** more **** ***** *** rate ** ******* ****** in ** ****:

***** ********* **** ******* * single ****** ******* *******, it ** ***** ****** this ** ***** ****** by ************* ***** ** Hikvision *** ************* ******** efforts ** *** ******* of *****.
**** ****, ******* ******* ratio ** ******* ** sharply. *** *******, **** in ****, ********* ***** less **** *% ** revenue ** ******* ********, now ** ** ****, it ** *********** **% of *******.
Coping **** *************
*********'* #* ****** *** was '******' **** *************. To ** *****, ********* does *** **** *** trade ************* ** *** benefited **** ****** ** China *** ***** *** the ** ***** ** the **** **** ****.

Revenue ****** ***** ***************
******* *** ***** ******* in ***** ****** *** ***** expenses ********, ********* ********** steady ******* ****** ** a ********:
****** ** ******** ****** growth ** ******* ** adopting ******** ******** **********.
通过采取有针对性的区域策略努力保持收入的稳健增长
******** ******* ****** *** 26.7% *** ** ****. Hikvision *** *********, *** unsurprisingly, *********** ******* ****** over ******* / ******** losses. ******* ****, ******** Hikvision ******* *** ***** higher **** ********, ******* and ********** *** *** domestic ********, ***** *** already ********** **** ****** of *****.
Overall ******* ****** ***** ** ** **
******* ******* ****** *** Hikvision *** ****** **% in ** ****, ******** to ~**% ** ** 2018. **** ****** **** a ***** **** ******* the *** ******** *** not ********* *** *** a ********* ******** ******* domestic *** ******** *** the ********.
Construction ******** ********* ***%
** *** ******** **** for *********, ** ***** domestically, ** **** ***** 'construction', *.*., *********** ******** more **** ******* **** over ****.

** ** ***** **** ~5% ** ***** ******* and ** ***** ****** but ***** *********'* ******** inside ** *****.
Net ******* ***** ******
******* ******* ******* ****** falling ******* ** **, increased ******* ******** *** decreased ************* ***** *******, Hikvision's ******* ******** *** profit ****** ********* **** 19.4% ** **.*% **** Q1 ** **. **** points ** * ****** domestic ******.
AI ******* #* ********
****** ****, ********* ********** ***** priority ** **:

***** ********* ** *** ethics *** ******** ** Hikvision's ** *** *********, all ***** ***** ** strong ***** ******** ********** sales *** ***** ** products. ******* ** *****, Hikvision's ** ****** ** far **** ************, ****, e.g., ********* **********, ***** not ******* ** *** US, nearly * **** **** after **** ****** *********** ****'* *******.
Roller ******* ***** *****
**** *** **** ****, Hikvision's *****'* **** *** been * ****** *******, with ****** ******** ** 2017, ******** ** **** turn ** ****:

** **********, *** ***** drop ******* **** ***** coincides **** ********* **** of *** ** ********** taking ******* ******* *********.
Future ** ************* ********* ********?
** *** *** ****, Hikvision *** ****** ** money ** ******** ** fund *** ************* ******** as ***** ******** ******** dominance *******. ** *** other ****, ****** ********* can ******* *** ***** margin ******* *** ****** the **** ** ******* expenses, ** **** **** under ********** ******** ** reduce *** ****** ***************.
******, *********'* ********* ** a *** **** ***** own ****** *** *** been ***************** "****** '******** ** *********' in ******". *** **** **** Hikvision ** **********?
Comments (13)
John Honovich
Update: The US House and Senate have published their reconciliation report. Dahua and Hikvision ban still remains:
We are currently researching the details of this but, minimally, this is an important step forward for the ban.
Note: the wording (above) has changed and is broader than before (now mentions, e.g. critical infrastructure, which is often not government owned, e.g. utilities). We are also examining that element.
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Undisclosed #1
Did not know Hytera was in the mix, thanks. That's the only two-way radio alternative to Motorola I know of - are there any other alternates? Moto is difficult to work with if you're not a partner.
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John Honovich
Bloomberg covers Hikvision: Chinese Spygear Titan's Ready to Recover $11 Billion Market Loss
It is generally a positive article from the perspective of the prospect of the stock price increasing.
However, it does mention Hikvision acknowledging both domestic issues ("a nationwide campaign to curtail debt was crimping government spending") and international ones ("Intensifying scrutiny from the U.S. and Europe on Chinese firms with ties to Beijing may discourage new clients.").
Interestingly, one analyst claims that investors are betting on Hikvision's software development capabilities:
For their sake, hope it gets better than DeepInMind...
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Sean Nelson
07/26/18 05:34pm
Hikvision has unfortunately moved down a level. They went from "completely anihilating the competition" to "simply giving everyone an azz whoopin"
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John Honovich
Hikvision Chinese investor call recap has some interesting details:
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Edward Knoch
So John - can you speak specifically to the Dahua listing by the Federal Government? I would have to believe that most vendors that push a "less expensive" line are embedding the Dahua products. I know it's quite prevalent (sensor and processor wise) - or used to be - in the offerings of FLIR DNZ-30 product line (their low-cost PTZ camera). I would be interested to find out what the impact is overall.
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