Megvii has already received more than a billion dollars in investment. Now, the company, a top China facial recognition provider, has filed for an IPO this week on the Hong Kong Stock Exchange.
This 500+ page IPO document reveals significant details into the size, growth, and usage of AI inside of China.
In this post, we look at the firm's financials, growth, City IoT focus, and the possible competitive threat to Hikvision & Dahua, including:
- Megvii Background
- Deeply Unprofitable, Growing Fast
- Principal Verticals
- Main Customers Mostly Security/Surveillance SIs
- Low International Presence
- City IoT Largest Segment By Far
- Covered Cities, Revenue Per Customer Booming
- Capitalizing on AI Camera Switch
- Threat to Hikvision and Dahua?
- Alibaba Ownership Stake Impact
- US Sanctions Risk