Ingram Micro's New Chinese Government Ownership

Author: John Honovich, Published on Feb 23, 2016

Ingram Micro is fighting back. Many have raised concerns about its agreement to be acquired by the Hainan Airline Group (HNA).

In a new SEC filing, Ingram Micro makes its case about why their impending Chinese owners will not have any negative impact. In particular, they declare:

"We have been assured by the HNA Group that neither they nor Tianjin Tianhai have any direct ownership stake held by the PRC government."

Unfortunately for Ingram, there is plenty of evidence for substantial Chinese government ownership and control. We break this down.

****** ***** ** ******** ****. **** **** ****** ******** ***** its ********* ** ********** ** *** ****** ******* ***** (***).

** **** *** ******, ****** ***** ***** *** **** ***** *** ***** ********* Chinese ****** **** *** **** *** ******** ******. ** **********, they *******:

"** **** **** ******* ** *** *** ***** **** ******* they *** ******* ******* **** *** ****** ********* ***** **** by *** *** **********."

************* *** ******, ***** ** ****** ** ******** *** *********** Chinese ********** ********* *** *******. ** ***** **** ****.

[***************]

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

******* ********** ********* ** ********* ** ******* ************, *** *** *****-***** ****** *********** *** ************** ********** (*.*., SASAC ******* *** ******** *********'* ***** *****). ***** ** * government ****** **** ******* ********* *** *** ******* **********. ***** are ****** ** **** *** ******* *** ******** *****.

Hainan *****

******* ******* **** **** *** ****** ******* ************'* ******* *********** and ******** ** *** ****** ***** (****** ** *****'* ************ province).

*** *******, **** ***** **** ********:

"*** “** *****” ********** ** ****** ******** ** ************ ** Hainan *****.... ****** ***** (******* * ******-***** **********, ****** ********** Development ******** ******* ******* (海南省發展控股有限公司)) ********** ***** ** *********** **.**% interest ** ***** ***** ***. ** ** *** *** ** December ****, ***** ***** *** **** *** **.**% ******** ** Hainan ******** ******** ***/** ********** ******* *** ******-***** **********(***)." [****: Grand ***** *** ****** ** *** *****].

******* ********* ** **** **** ** ***** ****** *******'* ********* ******.

***** ******** ******* *****, **** **** ***** *** ******** * $*.* ******* ******* placement, **** "****** ******** ***** .... **** ****** *** *******’* *********** *********** [at] **.*%".

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

** ******, **** ** **** ** ***.**** **** ************ **** ******** *** ********* *********** ** ******'* *****:

Communist ***** *********

** **** ****,*** *********** *** *** ********* ***** *********** ********** ***** ********. **** ** ******* ** ***** ********* with *********** ********** ******* / ********* (*.*.,********* *** *** ***** ********* *****).

Ingram *******?

********* ** ******'* *********:

"** **** **** ******* ** *** *** ***** **** ******* they *** ******* ******* **** *** ****** ********* ***** **** by *** *** **********."

** ** ******** **********. *****, ******* ** ****** ********* **, they **** *** *** **** ** *** *****, *.*., ** it ** ******** ** ** *****, ** ** *** ***** fault, ** ** *** ***** ** *** *** '********' **** wrongly. ********, ** ********** ** ** *** ***** '******' *** by *** '***', **** *** ***** ****, ***** *** ***'* group ********** ********* ********* *** *** ************** ******* ****** ********, rather **** *******, **** *** ********* *** ** ********** *** not * ***.

Impact / *** ** **?

** *** *** ****, *** ******** ********** *** ******** ********** need ** **** ******* ***** ******'* *********** ******* ******.

** *** *****, ******* *** **** ***** *** ******* ** to *** * ******* ******** ********* * ** ***********, ***** will ****** ********** *** ********* ** ************.

Comments (7)

Jeremy Ellis

| 02/23/16 03:02pm
** *** *** ****** ***** ***** ** *** ***** ***** (i.e. **** ** ***** **********), * ***** ** **** *** better, ** *********** ***** ********** **** ***.

John Honovich

IPVM Admin | In reply to Jeremy Ellis | 02/23/16 03:06pm

****** *****$** ******* ******* ****.

**** *** *** * ***** ****** ** ***** ************ *** they *** *** ** *** ******* ** ******* **.

Undisclosed 1

In reply to John Honovich | 02/23/16 04:02pm

**********.

Undisclosed 1

| 02/23/16 05:05pm

** *** *****, ******* *** **** ***** *** ******* ** to *** * ******* ******** ********* * ** ***********, ***** will ****** ********** *** ********* ** ************.

*** ** ** **** *********, ** **** ********** ****** ***** to *** **** ** $***,***,***.

#****************

John Honovich

IPVM Admin | In reply to Undisclosed 1 | 02/23/16 05:22pm

"** **** ********** ****** ***** ** *** **** ** $***,***,***."

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

"*** ****** ********* **** ******** **** **** *********** ** *** agreement ***** ******* *************, ******* ******* ***** ** ********* ** pay ****** ***** * *********** ***, ***** **** ** ***** to $*** ******* ** *** ********* ** ********** ** *** first ** **** ***** *******, $*** ******* ** *** ********* is ********** ******* *** ******* *** *** ******* ***** *******, *** $*** ******* ** *** ********* ** terminated *** **** ***** *** ******* ********* *******"

Thumbnail img 20130202 183252 113

Armando Perez

IPVMU Certified | 02/23/16 05:09pm

***** **** **** **** ** ********* ** *********. :*

Michael Goodwin

| 02/23/16 08:22pm

***** *** **** *** ** ******* ***** "***** ******" ** would **** *****, **** ***** ******* *** *** ******* ***** through ****.. **** **** ** * ***** ********

Login to read this IPVM report.
Why do I need to log in?
IPVM conducts unique testing and research funded by member's payments enabling us to offer the most independent, accurate and in-depth information.

Related Reports on China

Ambarella CEO Admits H.265 and 4K Not Popular on Sep 26, 2016
Ambarella is the main chip provider for high-end surveillance cameras driving higher resolution and new CODECs. While Ambarella has been pushing...
Times Investigates Hikvision's Chinese Government Control on Sep 16, 2016
The Times of UK, founded in 1785 with 1.6 million daily readers, has published a 2 part investigation into Hikvision's government...
Dahua: "We're Not Owned By The Chinese Government" on Sep 15, 2016
Discover the Dahua Difference. This was Dahua's theme for ASIS 2016. They were quite clear with their response to our question:  How is...
Milesight - A Chinese "End To End" Solution Examined on Sep 01, 2016
Where most Chinese manufacturers have focused on their camera hardware, one is attempting to be the Avigilon of China. We spoke with the President...
US Embassy Requires Hikvision Cameras on Aug 29, 2016
The US Embassy in Kabul Afghanistan has required only Hikvision cameras in a new US federal government bid. However: Hikvision was founded...
Hikvision Chinese Government Origin on Aug 29, 2016
Hikvision originated from a Chinese government research institute. This is uncommon in the West but frequent in China. Hikvision was founded...
Hikvision $6 Billion: Doubles Chinese Government Funding on Aug 18, 2016
This is seriously bad news for the rest of the industry. Hikvision has announced a new $3+ billion line of credit, in addition to the previous $3+...
Directory Of 93 Video Management Software (VMS) Suppliers on Aug 15, 2016
This directory provides a list of Video Management Software providers to help you see and research what options are available. Listing Format The...
Dahua Fakes Being American on Aug 10, 2016
Robbed from the Hikvision playbook, now Dahua takes it turn. Dahua, China's second largest manufacturer, is ramping up its...
The Chinese / Ingram Micro Deal Has A Significant Chance of Being Killed on Jul 18, 2016
A Chinese airline / shipping company buying a Western IT distributor? Sounds like a bad deal. Nonetheless, earlier this year, Ingram negotiated a...

Most Recent Industry Reports

VLANs for Video Surveillance on Sep 26, 2016
Many people confidently say to 'use VLANs' as an answer to IP video networking problems and as a way to signal expertise. But how should VLANs be...
Ambarella CEO Admits H.265 and 4K Not Popular on Sep 26, 2016
Ambarella is the main chip provider for high-end surveillance cameras driving higher resolution and new CODECs. While Ambarella has been pushing...
Nest Cam Outdoor Tested on Sep 23, 2016
After years of claiming an outdoor model was "coming", addressing their biggest user demand, Nest has finally released their Outdoor Camera, an...
ACTi Refuses Race To The Bottom, Shifts To Solutions on Sep 23, 2016
The original low cost IP camera disruptor was ACTi. Back in the 2008 - 2010 time frame, Taiwanese manufacturer ACTi challenged the Western and...
You Get Robbed, Canary Will Pay You Up To $1,000 on Sep 22, 2016
Canary is trying to break the status quo in DIY security, first by raising over $40 million, and now a revamp of their monthly services package...
Milestone Ends Development of "Enterprise" VMS on Sep 22, 2016
Milestone 'Enterprise' was one of the first enterprise video management software offerings, selected by many early adopters of IP video. However,...
History of Video Surveillance on Sep 22, 2016
This is a concise history of video surveillance covering the past decade.  The goal is to help professionals newer to the industry understand...
Access Control Course Fall 2016 on Sep 22, 2016
IPVM offers the most comprehensive access control course in the industry. Unlike manufacturer training that focuses only on a small part of the...
Totally Wireless IP Camera (IPVideo Corp NomadHD) on Sep 21, 2016
Wireless battery powered cameras have been a surveillance pipe dream for years, limited by camera power consumption, battery technology, and...

The world's leading video surveillance information source, IPVM provides the best reporting, testing and training for 10,000+ members globally. Dedicated to independent and objective information, we uniquely refuse any and all advertisements, sponsorship and consulting from manufacturers.

About | FAQ | Contact