Hikvision Admits Hardship But Optimistic About Overseas Growth
FCC new authorization banned, NDAA banned, and US sanctioned, Hikvision's overseas sales strategy has changed drastically in the past several years due to US and other government's actions (see Where Dahua and Hikvision Are Banned).
In this report, we examine Hikvision's latest comments to investors inside PRC China and its positions on its overseas businesses.
Executive *******
** *** *******'* **** ****** ******** call, ********* ******** ********** **** *** "US-Led **** ****" *** ********** **** it ** ***** ********** ***** *** overseas ***** ** ** **** ** replacement *** *** *****'* ************* ************.
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** ******* ** ** **** *** Hikvision ********* ******* ***-********* ******** *** how ****** ** *** ****** ** cloud *** ** ** ** ******* confidence ** "****-**-*****" ********.
Challenges **** ********* *********, ********** *** "**-*** **** ****"
** *** ******** ******** *****, ********* has **********"**********" **** "********* *** ** *** US"*** **** ****** ***** "********" **** *** ** market. ** *** **** ****** ******** call, ********* ******* *** ********** ******* "**** ****":
******, ********* **** ********* **** **** challenges ********, ********** **** ********* *********.The ******* ********* ***** **** *** ****** ****** *** *** **** **** ********* led by the United States. [Emphasis added]
的确，海康这样的公司在海外面临一些挑战，特别是来自于发达国家。其中最大的挑战来自于美国和美国带动下的五眼国家。
Still ********** *** ******** *****; *** ** *********** *** "****-**-*****"
******* *** ***** "**********," ********* ** still ********** ***** *** ******** *****, saying **** *** ****** *** "********** limited" ******* ** *** *****-********* *********.
*** *******'* ************** ******* ********** ****** the ******** **** **** ** ******** PRC *****'* ************* ********** **** ******* in *** **** *** *** **** he **** *** *** * *********** for *** ****:
* ***** *** ****-**** ********** ** China's ************* ******** ***** *****.There *** *********** **** **** ****** **** ******* *****. **** *** *********** ** *************, * ***** ***’* *** **. Every country has its own challenges and difficulties. [Emphasis added]
我觉得中国制造业的长期优势依然存在。有说法提出某些地方取代中国，从制造业的角度，现在我还看不到，每个国家都有各自面临的挑战和困难。
*** ******* ********* *** **** *** ongoing ******** ****** *** *** ** still *** ********** **** ****** ** the "***********" ******** ********:
******* ********* ****Hikvision ***** **** ************* ********** ** *********** ********** **** ** ********, *** ***** ************* ********** ** *** ******* *** ***** *****. Therefore, we have also seen the growth of Hikvision’s overseas business in the past few years. Although the growth of overseas markets is relatively slow, it is still growing. [Emphasis added]
像海康这样的中国公司，在安防等传统行业里的技术领先还是存在的，各方面的综合优势依然在。所以，我们也看到过去几年海康海外业务的增长，虽然海外市场增长比较缓慢，但还在增长过程中。
Further ******** ***********
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未来几年，我们基本判断海康的海外业务是增长的，并对海外业务做了组织架构、运作机制等调整，会进一步加大在海外的投入，在更多的国家设立分支机构，适当做一些营销人员、通道及模式的调整，来适应各种变化。
************ ** ******** ********** ** *** "Innovative **********," ********* ********** *** *****'* comparative ********** ** *************:
** *** ********** ********** ***** *** overseas ****** ** *** **** *** years.We ******* **** ******* ********* ***** **** ***** *********** ********** ** ******** ************* *******, and we **** ******* ************ *** *** ******** *********** ** ********** **********. [Emphasis added]
我们对海外的未来几年还是比较乐观的。我们认为，中国企业在海外制造业市场的相对优势还在，我们对创新业务的海外发展有更大的期待。
Industry ***** ******** **** **** ******** *************
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**** *************** **** ******** *** *** ** and ***** *********, *** *** **************, ** *** company ****** ******* ***, ** *** manufacturing ************, ********* **** ** * focus **** *** **** ** ****. For *******, ** *** **** ****, many*** ***** ************* ******** ** *** manufacturing*********** ******-****-******** *******, ***** **** ****** had * **** ****.
Hikvision ******** ***** *******
****** ********** **** *** "**** ****,"********* *** **** **-********* *** ******** business ***** ** ********** *********, ********** ** ***** *******, ****, Southern ******, *** ******. ***** *** manufacturing-first ******** ** **** ****** ** work ** ***** *******, ** ******* to ** **** *** *** *** China ***** ******* *** ******** *****, which ******* ** ** **** ** 20%+ * **** ** *** ***** to *****, * **** ********* **** and ***** ******** ** *** **** decade.