Hikvision Declares No Subsidies But Financials Show $189 Million Subsidies

Author: John Honovich, Published on Oct 13, 2016

Hikvision alleges that they receive no subsidies but their own financial records show $189 million of subsidies in 2015.

Hikvision 'overseas' has run a marketing campaign to counter critical coverage of their company. In a trade magazine interview, a Hikvision General Manager declares:

Hikvision does not receive subsidies from any government or financial institution

It is a definitive statement.

However, Hikvision's 2015 financial report (p.148) clearly lists Hikvision receiving government subsidies:

Indeed, Hikvision's own financials show 2015 China government subsidies of 1,274,249,562.08 RMB, equivalent to ~$189 million USD.

********* ******* **** **** ******* ** ********* *** ***** *** financial ******* **** $*** ******* ** ********* ** ****.

********* '********' *** *** * ********* ******** ** ******* ******** coverage ** ***** *******. ** * ***** ******** *********, * Hikvision ******* ***************:

********* **** *** ******* ********* **** *** ********** ** ********* institution

** ** * ********** *********.

*******,*********'* **** ********* ****** (*.***)******* ***** ********* ********* ********** *********:

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Subsidy ********* 

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Integrity *****

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Shaken / *******

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Comments (18)

***, ** *** **** *** ******* ******** ** *** ********? Please *****.

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** ***** ** **** *** *****'* ***** * ****** ***** of ******** ** ********* ***** ******** ******* ** ****** *** improper ***********. *** ** **** ******** *** ***** ********* *** are ****** ******* ** (** ****) ** ****** ** **** (at *****) ***** *********.

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**** ** ******* ******* ** * ********* ****** ******* ********* in ***** ******** ********* ** *** **** ****:

******* **** *** ********* ** ********* ***** ******* (*** ******* ******** market).

*** ******* ** ******, ***** *** ********** **** ********** ****** leaders ********** ****** **** ********* / ***** **** *** ******* managers *** ******* **.

*** *** **** **** ** ******* ***** ** ** ****** shred ** ******** *** * ** ********* **** ******** ****** overwhelmingly **** *** *** ************ **** ********* ** ********** ** their ******** ********* ** ** **** ******** *********** *** ****** ********* ***** *****-***** ********** **** ****.

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***** *** ***-********* ********* ** ********* **** **** **** ***** before, **********.

** *** ***** **** ** ******* ** ****** ***** ********* on *** *** ******* *** ********/*********** **** *** *********, ** is **** ********* *****.

*** **** ****** *********** ** **** ** *** ***** ****** him ** ***** ******* **** *** ******* ** ***** * subsidy, *** **** *** **** '*********' ** **** **** ** an ********** '****-**-***' ****** ** ******** *** **** *** ****** are ************* ***/** ********, *** **********.

** **** **** *** **** **** ** *********** ** *** next ******** ******** ********** '******** ** **** ** *** *****'.

...******* ** ********* *** *** *** ****** **** *** ******* of ***** ********* ********.

******* ***** **** * **** ****, ******* ***.

* **** ****, ******* *** *****?

******** ******* ***** ********, *** ******** *** ****** **** ******** will ** ****** ****** **** *********, *** ***** ** *** of ******** *** *** ***.. * **** **** *'* ****** in ** ********* *******. **** **** *** ******* ********* ***** go *** ** ********?

**** ***** **** ******* ***** *** ***** ******* ***** *****...** long ** ** *** ** ********* *********

****** *** ** *** ******* ***** "********** *********" **** ** accounting ***** ** ****. *** ********** ******* ** ***** **** heading ****** ** **** ** ******. ******** ***** ***** **** heading ****** ** *********, ******* ****. *****, *** ***** ** funding ****** - ** *** *** ***** - *********** ** here. * *** **** ****** **** ***-**** ******** *** ***** effect ** ******* ********.

*** ********** ******* ** ***** **** ******* ****** ** **** to ******.

** *** *** ****** *********'* '**********' ** ***********?

****** *** ** *** ******* ***** "********** *********" **** ** accounting ***** ** ****

** ** *****, **** ** * *** ******.

** *** **** *** ******* ******* ******* **** ******* **** this ** *** * *******? *** ***** ************ ** *** Hikvision's *********** ******* ******* **** ***** ********** *********?

****, * ** *** **** **** *********** *** ****** ***** this **** **** ** ****** ** *** ******* *****.

*** ****** ** ***** ** *********** * ********** ******* ** a ******* *****. **** ** *** *** ********* ** *****:

*. ********, ****** *** ***** ** ***** *** ******* ** certain *** *****: **%, **%, *% ***** ********* ********. *** Hik, ** ** **%.

*. *** *** *** ***** ********* *** *** ****** *********. When *** ******** *** ********* *** ****** ****, ** **** 17% *** ** *** ******* ***** ** *** *********; **** Hik ***** ******** ***** ** *********, ** ******* **% *** on *** ******** ********.

** *** ******** *** *** ******** **** ***** $***, *** the ******** **** ** **** ** $***, **** *** **** by *** (*** *****) ** $**, *** ******* ******* *** customer ** *** (*** ******) ** $**.

***** *** ******* **** $** ** *** *****, ** **** only **** ** ******* $** *** ** *** ********** **** the $** *** ******.

*** *** ****** ** *** ** *** ** ****. ***********, only *** *** ******** **** **** *** ***** ****** ** VAT.

*. **** *** ******* *** ********, ** ** ********* *** VAT ******. ** ***** **** *** *** *** ****** *** oversea ********* *** *** ** **%, *** *** *** *** input *** **** ** *** *********, *** ******* ********** **** credit *** ******.

**** *** ****** ******* ** *** ******** ** *** ******* exporters.

**** ********* ********:

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*** ******* ****** **** ** **** * ********* (** ** at *****) ******, *** ******** **** ******** **** *** ************* of *** ********* *********.

************ ******* - ******* ********** *********

* ** *** ********* **** **** ****** ****** ** * reader.

**** *** *** ****** **** *** **** *** ** **

  1. ***** *** *** ***** **** **** ******
  2. *** ***** *** *** ***** **** ************
  3. ******* ** *** *********** *** ***** ******** **** *****

*** ** **** *****.

********* ** ** ********** *********. **** **** ** ********** *** ******** *** ******* ** specific ********:

**** *** *** **** ******* ** ********* *********** *** ********** *****.

**** * ** ***********, **** ** ****** ****** ***** ** avoids ****** ******* ****** **** *** ** ******** **** *********'* own **********.

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