RaySharp Revealed - Major China OEM For Western Consumer Video Surveillance

By Charles Rollet, Published on Jul 02, 2019

RaySharp is mostly unknown, even among people in the video surveillance industry, though it is a major supplier of OEM surveillance equipment such as the camera/recorder kits sold in big box retailers like Costco. The company does this by OEMing for major distributors like Swann, Hanwha, and Lorex, benefiting from Hikvision/Dahua's move to sell under their own brand.

RaySharp Profile1

However, not much is known about RaySharp. But thanks to a recent China IPO application, we now have an unprecedented level of information. In this post, we take a detailed look at this PRC company, examining its US customers, partial Chinese government ownership, legal disputes, financials, sales strategy, repeated failures to IPO in China, and more:

  • Background
  • Ownership Structure
  • Large PRC Government Stake Revealed
  • Financials: Low Margins, Poor 2018 Revenue Growth
  • RaySharp's Top Market: North America
  • Top Customers: Swann, Lorex, Hanwha
  • Top Suppliers
  • Sales Strategy: Mostly Big Box
  • Legal Dispute Over Night Owl Security Shipment
  • Failed China IPOs
  • PRC Regulators Allegations' Against RaySharp
  • Chinese Media Investigate RaySharp Sales Strategy
  • Latest RaySharp IPO
  • Cybersecurity Issues
  • Hanwha Reaction to OEM Cybersecurity Risks
  • Overall Risks/Strengths

*******

******** *** ********** ** 2007 *** ** ***** in******, * ******* **** city **** *****. ** is ******* ** *******: only * ***** ********** (1-3%) ** *** ***** are **** ************, *** latest *** ****** ******.

Ownership / ******* ********** *****

******** *** * ******* ownership *********, *** ********* reveal. ***** **'* * private *******, **** ** RaySharp's *** ***** ************ are ********** *****-********** ** have * ***** *****-***** component:

  • ******* ********* ********* *************** **% ** ******** and ** **** *** largest *** *********** ***********. In ****, **% ** Lianzhong ********* ** ********** owned ** *** *****-***** Assets *********** *** ************** Commission (*****) ** ***** Province, * ******** *****-***** company.
  • ********'* ****** *** ****** largest ************,********* ********** ******* *******(**** **.**% *********)****** **(*.**% *********) *** **** state-owned ********** ******** ********** the ********* ********** ******’* Government.
  • ********'* *******-******* ***********, ****** VC, ** **** ********** as *****-***** *** **** 4.6% ** ********.
  • *** **** ** ******** is ***** ** * mixture ** ******* *********: VCs, *** **********, ***** investment ********, ***.

***********, **** ***** ***** 41% ** ********'* ****** are ********** ***** ** the ******* **********. **************, that ** ****** ******* the **** ********** ** Hikvision **** ******* ** *** ******* government.******** *** ********* **** have * ***** ****** in ******,*****, *** ********* *** state ****** **** **** about **% ** ********* and (*** ********* *********) about **% ** ********.

*******, *** ********* ***** the "****** **********" ** RaySharp ** * ******* PRC ******* ***** ** Lin (徐进), *** ** RaySharp's ******** *** ***** representative. ********'* *** ****** states ****, ******** *** indirectly, ** *** *********** controls ***** **% ** RaySharp's ******. **** ** mainly ******* *** *********** 55% ***** ** ********* Yongsheng, ** ***** ** is *** ********* ********. Xu *** **** ******** owns ***** *.*% ** RaySharp's ******.

RaySharp **********: *** *******, ******* ******

  • **** ******* *** *****$140 *******; profit of about $8.7 *******
  • **** ******* *** *****$136 *******; profit about $11 *******
  • **** ******* *** *****$80 *******; profit about $5 *******
  • **** ******* *** *****$62 *******; profit of about $3 *******
  • **** ******* *** *****$47 *******; profit of about$1.5 *******

** *** ** ****, revenue ****** ********* **** 2017-2018 ***** ******* ********, leading ** * ***** profit ******. ********'* ****** margins, ** **** ***** 6% **** ****, *** much ***** **** ****** like*********,***** *** * **% margin, ********(***** **%). ********** ********* ********'* *** ********* * ******* (*** 'Failed ***' ******* ***** in **** ****.)

******** ********* **** ***** 2016 ** ***** ** this ***** ***** ** RaySharp's ****** *** *********** (which ** ** ***** of **,*** ***):

****-**** **** *** ***** on ********'********* *** ***********:

RaySharp **** *******

***** ******* ** ** far ********'* ******* ******. In ****, ** **** up **** **% ** RaySharp's *****, ** **** $105 *******, ********* ** its ****** *** ******:

*** **** ** ********'* sales *** ****** ******* split ******* **** *** Europe, **** ***** **% each. ********'* ******** ***** are **** ***, ******** around *-*% **** *** past *** *****.

RaySharp **** *********: ***** *********

********'* *** ********* ** 2018 ****:

*** ******* *** *** conversions ** *** ******** chart *****, ** **,*** RMB **********:

*** *** ***** ****** shows **** ***** ** RaySharp's ***** ****** **** company's ****** *********. **** means ***** ** ** far ********'* **** ********* customer, ************ ****** **% of ***** *****.

RaySharp ******* ********

********'* ******* ****** ****** ******* ** low-end** *******/****, ** **** ******************/****, ******* ** ****, * ******* ******* mix *** ************ **** in *** *** ******. They ***** **** ********* varifocal ****** *** ****, though *** **** ** the ******* **** ** fixed ****. ************, **** claim ********* *** **** "**** ********" ** **** ******, though **** ** * distinct ********.

RaySharp *** *********

** ****, ********'* *** two ********* **** ***** HK, * ********** ** Swann ** **** **** drives ****, *** ****** HiSilicon, *****'* ******* *** producer. ***** *** ********* made ** ****** **% of ********'* ***** ********* purchases, ** ***** $** million, **** **** ****** about ** ***** *****.

** *****, ******** ***** its * *** *********, but ** ****. *** other ***** ********* **** smaller *** *********** *************. Those **** ********* **** up ***** **% ** RaySharp's ***** *********.

RaySharp *****: *** *** *******

******** ****** **** ***** 80% ** *** ******* comes **** ******* ******* and ********* ********* ** large ************ ************ *** re-brand *** ******** *** sell *** ***** ***** to ****** **** ******, Sam’s ****, **** ***, Fry's ***********, **** *****, Lowe's, *** ****** ******* Tools - ** *** end **** *** ****** physically ***** ** ***** stores ** ******** ****** kits. *** **** ** RaySharp's ***** ** ******** to *********** **********.

Night *** ***** *******

******** ** ******** ** an ***** ******* **** a ******* ***** *****,***** ***********, **** * ******** intended ******** *** ********, * **** *****, FL ***********, ** ****** in *** ****** *** filing.

******** ****** **** ***** sued **** ** ******* 2019 ** ******** ***** over * ******** **** shipment ** ***** ***-******* cameras. *****, * ******** Night *** *****, **** the ****** ** ***** Owl's ********* **** ** China *** ******* ******** was ******** *** *********. RaySharp ****** ****; *** case ** *******.

***** *** ******** ********'* version ** ******. ** February, ***** ******** * ********* *** ****** ******** of ******* ******* ***** over *** ********, ***** caused *********** ******, ******* it ***** ********** ***** to **** *** *** 'Night ***' ********* ** China. **** **** ** ongoing ** ****, *** RaySharp ** *** * party ** **.

Failed ****

******** *** ********* ******* times ** **** ** the ******** ***** ********'*************. ******* *** ****** reporting/revenue ************ **** ********'* main ***** ********, ** it ** ***** ** attract *******, **-****** **** companies.

*******, ******** *** ****** twice, ***** ** **** when ************* ***********, **** **** year **** ********'* *** application *** ******** ** regulators, ************** *********** ******:

*** ********** *** ***** volume ** **** ** significantly ****** **** **** in ****, [***] *** materials [***********] *** *** inventory ** *** ************, and *** ******* ********* balance ** ********* *** same

****** *** ********* ******, the ******'* ***** ** major ********* **** ** Hanwha ******* ********** *************

********** ********-********* ********* ** the **** ******** **** higher ***** ****** *******

[***** ** *] ***** difference ******* ******** ***** revenue *** ******* **** during *** ********* ******

**'* ***** ****** ****, separately,******** *** ***** $*** for *** **********,*** ******* ** *** customs ** ****.

Chinese ***** *********** ***** ********

***** *** **********'* *********,************* * ******* ************************* ********* ***** ********'* sales ********, *********** **** sales ****** ** **** to ******* *********.

*** ******** ******** *** unit **** *** **** price *** ********'* ******** and ***** *** ******** had ******* ****** **** while ***** *********. *** articles ********* **** ******** used **** ******** ** boost *** ******* ** it ***** **** **** for *** ***. ***, inevitably, **** **** ** one ** *** ***** gross ****** ******* ** the ********, ******* ********* from **********.

** *** *** ******* Raysharp *** ******* *** margins ******** *** *** to ********* ********** *****, but *** ******** ****** that *** *** **** to ** *** **** because ********'* ********** ***** were ******* *** ** the ****** ** *** industry.

New ***: ***** **** *****?

*** *****, ******** ** attempting ** ***,****** *** * ***** time ** **** **. *** ********** **** not ********* ***. ** the **** ******* ** any *****, ** **** take **** ******, ******** over * ****, ** know ******* **** ******* is **********. **** ****, RaySharp ***** *** ** IPO ** **** **** and *** ******** ******** in ********* ****.

Cybersecurity ******

** ******** ****, ******** researchers ***** **** ** to **,*** ******** **** had * ******** *************: "a ****-*****, ************ ******** for *** *******-********** **** in ***** ******** -- the **** *******",******* ********** *** ****. (**** discussed *** ************.)

*** ************* *** ** bad** *** ****** "**" - *** worst ******** ***** - by**-****, **** ** *** US **********'* ************* ********.

Hanwha ********: ** **** *** ******** *** ******** ****

**** ******* *** ** Hanwha ******* ***** ***** use ** ******** *** products, ****** ***** *** cybersecurity ***** - **** was ***** ******** *********:

****** ******* ******** ******** as ** *** ******** for *** ***/*** ******** products ****. ***** ** releasing ******** *** ******** to *** ******, ****** Techwin ******** ******** ******** verification ********** ** ****** the **** ** ********* security ********* **** ******** products ** ******** ********. This ******** ************ ******* a ******** ********* *** vulnerability ****** ***** ****** coding *****.

**** **** ******* ***** assurances, ***** *** ****** code ***** **** ********, some **** ***** *******. Generally ********, *************** *** also ****** *** ******** - *** ************ ** ***** ************ Cybersecurity *************** *** ********.

*********

******** *** ****** ************ popular ** *** **** as ****** *** ********* Hikvision *** ***** **** marketed **** *** **** of ***** ******* ********.

************, ***** *** ** current ***** ************ ** RaySharp, ****** ******* ******* ************* ** *********/***** *********.

***** *** **** *********** ** ***** ****** sanctions** *** **** **************** ***** ** ********. **** ******** *** any ***** ******** ******** projects, ** **** *********** China ****** ********, *** couldn't **** ***, ********* a ******** *********** ****** ********** **** ************ ** China.

*****

** *** ***********, ******** stated **** *********** ***** to *** ******** ******* the **-***** ***** ***, the **** ************* ** its *** * ******* (who *********** ****** ***** quarters ** ***** ******* in ****), *** ********* profit *******.

** ********, ******** ********'* IPO **** *** ******* this, *** *******'* ***** use ** ****** ********* equipment *** ****** ** to ***** *********** ********* on *** *** ** government ********** *** ******** of *** **** ***. As *****, ********* ** RaySharp's ****** ******* ********. (For ****, ********* ********* ******* ******** Tens ** ******** ** Western *** ************* ******** *** ***** House ******** ***** ** Hikvision / ***** ******* Blacklist).

False **** ******

** ********,******** ******* ******* "**** *************" for *** "***** ********" that ** ****** **** German ********* ********** *********. ** **** *** reported,** ******* *** ** GDPR ************ *** **** ****** states **** **** ******* do *** ****** *********.

******** ******* ** *** the "***** *** ** south *****" ** ******* the ************* *** *** surveillance ********, ***** *** be **** *** ** not ************ ******** ***** most *****'* ***** ************ manufacturers *** ** *******/******** China.******************* ****** ********* *** Rheinland's '*************' ****** ********.

** ** ****, ******* GDPR ************ *** ****** in ***** ************ *** other *******, **** ********* firms **** *** ********* capitalizing ** *********' ***** of *** **** ***********.

Comments (9)

** ** ******** **** the ********* ****/***** *** line *** ******** ********?

**, **** *****, ***** to *** *********** ** Lorex ** *****. *** FLIR *** ** ********* with *** ******* ************.  

**, **** *****, ***** to *** *********** ** Lorex ** *****...

**, *** **** ****** the *********** ** ***** by *****, *** ***** were ******.

*’* ******** ***** ***** Lorex ******* ***/** ******** made, ** *** ****?

****** *****/********/********* ************. **** branded – **** *****. 

**, ****** ** *** other *********, *** *** tell ** *******. *** example, ***** ****** **** than $** ******* ** Raysharp ******** ** **** while ***** ******* *** way **** $*** *******, showing **** ******** *** a ******** ******** ** FLIR *** / ********.

******** ********* ****** ******* some...

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

 

******:******** *** ************ ********* ** "********* a ********** ** ******** for *** ********** *** sales ** ******** ***** surveillance ********", ******** ** invest "** **** **** 20 ******* ***" (***** $2.81 *******). *** **** "still ***** ** ** submitted ** *** ************ meeting *** *************".

************, *********** ************ ****-**** **** *******, showing * *.**% ******** in ******* ****-**-**** ** around $** *******, **** profits ** $*.* ******* (a **% ********). ***** now ***** ** **% percent ** ********'* *******, compared ** **% *** 2018.

***** ****** ** *** same ***** ** *** the ********* ******* ** US *********

***** ****** ** *** same ***** ** *** the ********* ******* ** US *********

*** ** *** **** in ****?

*** **** ******? ******?

Read this IPVM report for free.

This article is part of IPVM's 6,584 reports, 886 tests and is only available to members. To get a one-time preview of our work, enter your work email to access the full article.

Already a member? Login here | Join now

Related Reports

IPVM Editorial Staff on Aug 01, 2020
IPVM has the largest and most experienced editorial team covering video...
Augmented Reality (AR) Cameras From Hikvision and Dahua Examined on Oct 19, 2020
Hikvision, Dahua, and other China companies are marketing augmented reality...
China's SMIC Hit By US Trade Restrictions, Impact On Video Surveillance on Oct 13, 2020
US trade restrictions have hit Semiconductor Manufacturing International...
Ava / Vaion Releases Cloud Connected IP Cameras, Verkada Competitor on Oct 01, 2020
Ava (formerly Vaion) announced its new direct-to-cloud AVA Aware IP cameras...
NDAA Compliant Video Surveillance Whitelist on Aug 10, 2020
This report aggregates video surveillance products that manufacturers have...
YOLOv5 Released Amidst Controversy on Jul 27, 2020
YOLO has gained significant attention within video surveillance for its...
UN Agency Buys 'Swiss' Fever Cams From Firm That Faked Accreditation, Sales, Marketing on Oct 06, 2020
A Swiss company claims to have "fully designed and manufactured" the world's...
Sony 61MP Surveillance Sensor Examined on Sep 04, 2020
For a decade, the highest resolution single-imager surveillance cameras have...
Startup Solink $17 Million USD Fund Raise Expands To Mass Market on Jun 24, 2020
Solink has raised ~$17 million USD, a sizeable round for the company that...
Hanwha 8K / 33MP Camera Tested on Sep 14, 2020
Hanwha Techwin has released an 8K / 33MP resolution camera, the TNB-9000 with...
Camera Course Summer 2020 - Last Chance on Jul 18, 2020
This is your last chance to register for the Summer 2020 Camera Course. This...
Hanwha AI Analytics Camera Tested on Aug 11, 2020
Hanwha has released their Wisenet P AI camera, adding person and vehicle...
Sunell Panda Cam Body Temperature Measurement Camera Tested on May 14, 2020
Sunell is far less well known than its gargantuan domestic competitors Dahua...
AndroVideo Presents Edge AI Face Recognition Cameras on Jun 26, 2020
AndroVideo presented its AI at the edge face recognition cameras at the May...
Longse Promoting Hikvision Partner Fullhan Chip Based Cameras on Oct 14, 2020
With Huawei HiSilicon production being shut down at TSMC, camera...

Recent Reports

Panasonic Presents i-PRO Cameras and Video Analytics on Oct 19, 2020
Panasonic presented its i-PRO X-Series cameras and AI video analytics at the...
Augmented Reality (AR) Cameras From Hikvision and Dahua Examined on Oct 19, 2020
Hikvision, Dahua, and other China companies are marketing augmented reality...
18 TB Video Surveillance Drives (WD and Seagate) on Oct 19, 2020
Both Seagate and Western Digital recently announced 18TB hard drives...
Watrix Gait Recognition Profile on Oct 16, 2020
Watrix is the world's only gait recognition surveillance provider IPVM has...
Intel Presents Edge-to-Cloud Ecosystem for Video Analytics on Oct 16, 2020
Intel presented its processors and software toolkit for computer vision at...
Best Manufacturer Technical Support 2020 on Oct 16, 2020
5 manufacturers stood out as providing the best technical support to ~200...
Microsoft Azure Presents Live Video Analytics on Oct 15, 2020
Microsoft Azure presented its Live Video Analytics offering at the September...
Worst Manufacturer Technical Support 2020 on Oct 15, 2020
4 manufacturers stood out as providing the worst technical support to ~200...
Clorox Announces, Then Pulls, Fever Camera on Oct 15, 2020
For almost one week, Clorox was marketing fever cameras. The booming...
Faulty Hikvision Fever Cam Setup at Mexico City Basilica and Cathedral on Oct 14, 2020
Donated Hikvision fever cameras (claiming screening of 1,800 people/min. with...
Directory of 209 "Fever" Camera Suppliers on Oct 14, 2020
This directory provides a list of "Fever" scanning thermal camera providers...
Avigilon UMD / UAD Tested on Oct 14, 2020
Avigilon's Unusual Activity Detection and Unusual Motion Detection claim to...
Longse Promoting Hikvision Partner Fullhan Chip Based Cameras on Oct 14, 2020
With Huawei HiSilicon production being shut down at TSMC, camera...
Meridian & Goodview (BEMS Relabeller) Temperature Screening Tested on Oct 13, 2020
A lot of temperature tablets look exactly alike and that is because they use...
Monitoring Alarm Systems From Home - Innovation or Danger? on Oct 13, 2020
Remote monitoring by alarm companies since COVID-19 is bringing cost savings...