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

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

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

******* ********** ********* ** ********* ** ******* ************, *** *** *****-***** ****** *********** *** ************** ********** (*.*., ***** reviews *** ******** *********'* ***** *****). ***** ** * ********** ****** **** manages ********* *** *** ******* **********. ***** *** ****** ** both *** ******* *** ******** *****.

Hainan *****

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

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

"*** “** *****” ********** ** ****** ******** ** ************ ** Hainan *****.... ****** ***** (******* * ******-***** **********, ****** ********** *********** Holdings ******* ******* (海南省發展控股有限公司)) ********** ***** ** *********** **.**% ******** in ***** ***** ***. ** ** *** *** ** ******** 2015, ***** ***** *** **** *** **.**% ******** ** ****** Airlines ******** ***/** ********** ******* *** ******-***** **********(***)." [****: ***** China *** ****** ** *** *****].

******* ********* ** **** **** ** * **** ****** *******'* ********* ******

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

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

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

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

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

Ingram *******?

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

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

** ** ******** **********. *****, ******* ** ****** ********* **, **** **** put *** **** ** *** *****, *.*., ** ** ** revealed ** ** *****, ** ** *** ***** *****, ** is *** ***** ** *** *** '********' **** *******. ********, by ********** ** ** *** ***** '******' *** ** *** 'PRC', **** *** ***** ****, ***** *** ***'* ***** ********** ********* ********* and *** ************** ******* ****** ********, ****** **** *******, **** the ********* *** ** ********** *** *** * ***.

Impact / *** ** **?

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

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

Comments (7)

** *** *** ****** ***** ***** ** *** ***** ***** (i.e. **** ** ***** **********), * ***** ** **** *** better, ** *********** ***** ********** **** ***.

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

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

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

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

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

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

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

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

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

***** *** **** *** ** ******* ***** "***** ******" ** 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

Avigilon Touting 'Made In America' on Sep 18, 2017
Canadian manufacturer Avigilon, who completed a US manufacturing facility in 2015, is now running a marketing campaign touting 'Made In America',...
Dahua USA President Out, South American President Takes Over on Sep 11, 2017
Dahua's South American President has taken over Dahua North America as well. This is Dahua's third North American head in 2017. Will this one...
China Threatens Reducing Exports to the USA on Aug 23, 2017
The US government has launched a probe into China's alleged theft of US intellectual property. The Chinese government has fired back, threatening...
US Army Bans Chinese DJI Drones on Aug 08, 2017
The US Army has issued a ban on Chinese-made DJI drones. A US Army memo obtained by sUAS News references a classified document from the Army...
Hikvision USA Head of Cybersecurity Exits on Jul 18, 2017
Hikvision USA's Head of Cybersecurity has exited the company. In this note, we review the move, share Hikvision's feedback and examine the...
Hikvision Distributor Says Hikvision "Top Rated Yet Most Hated" on Jul 12, 2017
The CEO of 2M Solutions, a distributor selling Hikvision cameras under their own as well as Hikvision's brand has publicly declared Hikvision to be...
Best Manufacturer Perks on Jul 07, 2017
A decade ago, the best manufacturer perk was likely a trip on the Pelco jet: But the Pelco jet is long, long, long gone. What types of perks...
Distributor Favorability Ranked (North America) on Jun 29, 2017
  What North American security / surveillance distributors do integrators favor the most? The least? 150 integrators rated and commented on the...
Hikvision Stock Surges - Doubling In Past Year on Jun 29, 2017
Hikvision's stock, on the China Shenzhen stock exchange, has more than doubled in the past year, vaulting the company's worth to an astounding (for...
Hikvision: IPVM Is "Destined To Fail" on Jun 14, 2017
Hikvision has accused IPVM of 'cyberbullying' them, declaring IPVM 'destined to fail.' This is the 3rd anti-IPVM Hikvision post in 2 weeks,...

Most Recent Industry Reports

Uniview Recorder Backdoor Examined on Oct 20, 2017
A Chinese research group has identified a vulnerability in Uniview recorders that allows backdoor access in a method similar to the Dahua...
Hikvision Access Control Tested on Oct 19, 2017
Hikvision aggressive pricing and marketing combined with generally reliable hardware and free software has made them a major player in video...
Verkada, Silicon Valley VSaaS Startup, Targets Enterprise on Oct 19, 2017
Verkada says they are building an enterprise-class VSaaS offering, calling it "The new platform for video security". This is a departure from the...
Exacq Unbreaks Avigilon Integration on Oct 18, 2017
For nearly 4 years, Exacq had broken and effectively blocked use with Avigilon cameras, as IPVM reported in January 2014. Now, Exacq has...
Search More Important Than Live Monitoring - Statistics on Oct 18, 2017
Search is overall more important than live monitoring to integrators, according to new IPVM statistics.  The key themes found in integrator...
Axis 'Sold Out' P3707-PVE Multi-Imager Tested on Oct 18, 2017
Axis faced significant product shortages over the summer. Perhaps the most notorious and significantly sold out model was the Axis P3707-PE 8MP...
Dahua Removes Auto Rebooting on Oct 17, 2017
For years, Dahua has automatically programmed its IP cameras to reboot weekly, a highly atypical and questionable practice. Following IPVM...
Deep Learning Tutorial For Video Surveillance on Oct 17, 2017
Deep learning is a growing buzzword within physical security and video surveillance. But what is 'deep learning'? In this tutorial, we explain...
Multipoint Lock Access Control Tutorial on Oct 17, 2017
Doors are notoriously weak at stopping entry, and money can be misspent on wrong locks that leave doors quite vulnerable. While closed and locked...

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