Few ******** *******, ******** ******* ** *********** *******
*********'* **************** *** ************* ******** ** ******* details ***** *** *************'* ******, ****** the **** **** **'* ******* ** violations ** ********* ********** ************.
*******,******* ************* ** ********* ******* **** *** investigation "********* ** *** **** ******* of ** ******** ***** **** [***] not **** ********". ******* *********** **** reported ***** ******** **** ****** ********** *****:
**. **** **** **** ******* *** company's *********** ** ******, ** **** some ********** ** *** *********, *** did *** ******** ** ** *** stock ********.
********** ***** *** *** ******* *** Hu ********* *** ***** ************ ** well. **** ***** ********* ***** ***** claims *** ** *** *** ******* a ******** ** ****.
UPDATE: ****'* ****** ********* **** ****** ** *************
********** ***** **** ********** ********* ********* ***** ****** *** investigation ** ******** ** ****'* ***** incentive ****:
*** ************* ** **** **** ** directed **Mr. **** *******'* ******** *************, which will not affect his normal performance in the company, and the company's production and operation activities will not be affected. The ******** ************ *** ******* ** *** ****** ********* **** ******** *** *********** ** *** ******* *** *** **** ********** ***** ** *********, and has nothing to do with the company and other directors, supervisors and senior managers of the company. Mr. Gong Hongjia will actively cooperate with the investigation work of the China Securities Regulatory Commission and fulfill the information disclosure obligations in strict accordance with the regulatory requirements. Special announcement. [emphasis added]
********** ***** ** ********** ** ************* source ** ** ** ************* ***** ********** *****'* ******** *********, *** ***** Securities ********** **********.
Bonuses **********
********* ******* ********* ******** ****** ********* **** ** a *********** *********. *******, **** *********'* stock ***** **** ****** **% ***** its **** **** *** ******* ****** more ********** **** **** ******, **** is ****** ********, ********** **** **** complaints ** ***** ******* **********:
********, ********** ** ** *** ******* *** breakfast ****** *:**, *** ******* *** off **** ***** *:** ** *** evening
** ******,*** ******* ****** ********* ** ***** than *** *** *********.
*******, *********'********** ** *** **** *** ****** and **** ******** *********.
**** **** ** **** **** **** Chinese *******, ********* **** ********* '***' ********** ******* *****- **** ********* **** * **** a ****, ** ***** * *** so **** ** ********* *** ****** to *********. *******, **** *****'* ************ overall *******, **** *** ******* *** challenges ** ********* ********* ** **** such ********* ********* ** *** *******, often ** ***** *****, ** *** sufficient.
Hikvision ********: ***********, *** *******, *** ***** *************
********* **** **** **** **** ***** was **** ********* *** *** *********** - ** ********* *** **** ******* - ****** **** ********* ******:
*** ******** ** ************* **** **** [***** ********** ********** **********] **** ******** *** ********* ***** member ***********, ******* ** ** *** company. ********* ******** *********** ********** *********** accordance **** ********** *********** ********.
**** ** *********** **** *** ********* surely ***** *** ********** ** **. Hu ** *********.
Hu ****** ** *****
*** ************* ** ** ********* ***** a ****** ** *** **** ***** his ******* **** ** ******** *** company *** *** **** ** *** clear ********** ** ***.
*** ********* ** ********* ********* ** have ****** **** **** *** **** decade ** **** **. ** ** the ****** ** *********'* ********** *** decisions.
********, **. **, ********* ** ***** Hikvision's *********, ** *** ********** ****** of *********'* ************* ******** ****** ***, indeed, ********* ********* **** ********* ********* respect *** **** ***** *** *****.
Gong **** *********
** ********, *** ************* ** **** Hongjia ** *** **** ******** ** Hikvision's **********. ***** **** *** * formal "**** ********" *****, **** ***** Hikvision ******** ***** ****** **** ** actually ******** *** *******. ** *** media, ** ** ******* ***** ** "*** **** ****" *** ************ ******* *** *** stock.
Major ************
**** *** *** ***** ********* ************. Hu ********* ******** **** *.**% ** Hikvision, ***** ** ********* ***** ***** $870 *******, ********* ** *********'*** **** ******. **** ******* ******** **** **.**% of *********, ********* ***** ***** $* billion. ***** **** ** *** ****** than **, ** ** *** **** vital ** *********'* **********.
Poor ****** *** *********
** ** ********** *** *** *** government ** ******** ****** **** ************* at **** * ******** ******** *** Hikvision. *** ******* ************* ** *** ** ********** **** human ********** * ***** *** *** *** no ****** ****** ** ****** *****/**. It ** *** ****** ******** ** ********** ************ ******** ***********.
Strange ***** *********'* *** *** ***********, ********* ******* ********
********* *** ****** ****** ********* ****-********* politically ** *****, **** *********** * *** ********** *********** ******* ***** ** ******* **** top *** ********* (********** ********** ******* ********* *** ********* Xi *******,********* ********** ** ******* *****).
*** ********** ***** ** **** ********* has ****** ********* ***** ************* **** ***** ***** **** * public **** ** **** ** *****.
Chairman **** - ***** ** **?
***** ***** *** ***** ******* *** implicated ** *** *************, *******, *********** ** *** *****, **** ********, *** **** ** **. **, the *******'* ********* ***** ********* *** NPC ********, ** ***.
**** ** ******** *** ********* ** that ** ** **** **** **** but ** ** ******* ** ** how **** ******* ** **** ********* 'illegal *********** **********'. *** **** *** know ***** **? ***** **** *** help ** ** ******** **** **** public *************?
Potential ***** ************
********* ** ************* *** ** *** ***, *** ********** ********* *** ****** administrative ********* (**** ** *****), *** if *** ********** ****** ** ******** acts, "** ***** ******** *** ****" to * ******** ******** *****.
Stock ******
*********'* ***** **** ****** *% ** the **** *** **** ****** **** part ** *** ****, ****** *** trading *** **** *.*%:
Outlook *******
****** *** **** ********* ***** *** exact ****** ** **** ************* ** the ******** ***** ****** ** ********* to *******.
*** ****-**** ******** *** ********* ** that **** ** * ***** **** nuisance *** **. **, ** ***** action ** ***** ******* **. **, and *** **** **** ** ***** in *** *************. ** **, ****** will **** ****** ***** ****.
*******, ** *** ************* ********** *** ability ** **. ** ** ******* Hikvision, ** ***** ******** *** ********** of * ******* ******* ***** *********** overseas ******.
Vote / ****
Comments (5)
Anthony Jones
This is probably just a move to safe face. These guys will be used as fall guys, take the blame. Hikvision will declare they removed the bad seeds. Yadda, yadda, yadda.
Create New Topic
Undisclosed Integrator #1
Lemme guess... They accidentally disclosed to the West that they were building analytics to identify Uyghurs?
Create New Topic
Charles Rollet
Update: While there are no new official announcements about this investigation, it continues to be discussed/speculated about in PRC media.
The National Business Daily, a business newspaper, published an opinion article pointing out that Gong Hongjia and Hu Yangzhong have had multiple stock transactions between each other in the past, with Gong liquidating positions and Hu increasing his. The NBD speculated this could have led to Hu obtaining stock under the table, potentially at lower-than-market prices.
The implication here is that due to PRC stock market restrictions (particularly for state-backed firms like Hikvision,) senior Hikvision managers were unable to get their full stock options, so Gong did it out of his own pocket without properly declaring this.
Xinhua raised similar concerns an opinion piece, saying that even if Gong gave away stock in good faith, the question is whether it was done in a fully compliant way:
Finally, a business news outlet called Wumian Caijing published an article calling out alleged discrepancies between Hu Yanghzong's reported salary in 2017-2018 and his large stock purchases around that the time.
The fact that this case is being discussed/speculated about in PRC media is notable - this is a country with some of the world's strictest censorship. While there is no public proof of this happening, it could be evidence of dissatisfaction with certain Hikvision people from the PRC government's higher echelons.
Create New Topic