TVT Revenue and Profits Up, Strengthened by Summer Fever Camera Boom

By Isabella Cheng, Published Nov 16, 2020, 08:00am EST

Many Western users may be unfamiliar with TVT, a Shenzhen company that OEMs for companies including Avycon, Speco, InVid, and Vitek. However, TVT has had a strong 2020.

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In this note, IPVM examines TVT's 2020 performance thus far, its Q3 2020 financial disclosures, and what this means for TVT going forward, including:

  • Solid 2020 performance Q1-Q3 despite COVID-19
  • Q3 2020 revenue and profit growth analyzed
  • TVT overseas vs domestic business breakdown
  • 2020 financial performance boosted by fever camera products, TVT says
  • Recent fever camera demand slowdown impact on TVT
  • US 2020 imports analyed and top buyers examined
  • NDAA opportunities for TVT
  • TVT comments on future strategy
  • Market response positive to Q3 2020 results

TVT **********

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*** ** * ********, China ***** ************ **************** ~$** ******* ** 2019 *******. *** ******* ************* ** ********* **** *** ********* sell ***** *** *** brand ** ***** *******. TVT ******** *** ***** camera ******** ******* ** 2020 **** *** *****-** epidemic ***** *******, ********* a***** **************** ** *****, ******, and ***** ** **** as ****** ****** ************** ************ *** ******* Controls (***).

Solid **** *********** **** *** ******* *****-**

***** *** ***** ************ industry *** * ***** 2020 ***** *** ** COVID-19, *** ****** ****** than ****. ** *** particularly *** *** *** industry, **** ******** ***********************'* ***** ********** -**.**% and -*.**% ***, ************.

*******, *** ***** *** 22.32% *** ******* ****** in ** **** ***** COVID-19 ****** ****** *** world, ******** ********** ***** and ******* **********.

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** ***-****, ** **** revenue *** ** ~*% though **** ******** ** Q2:

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Q3 **** ******* ***** **% *** ** $**.* ******* ***, ******* **** ***% ** $*.* ******* ***

*** **** * ****** ~33% ** ** *** made **** ** ******* in ** **** **** it *** ** ** and ** **** ********.

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*** *** **** *** net ****** ******* ************ increase **** *** **** few *****.

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***** ***** ************* ************************* **** ******** ** Q3, ********* ******** *** revenue ****** (~**%), *** not ** *** ****** of ***'* ****** (~**%). Notably, ***'* ******* **** continued ** **** ************* (~131%) ** ** ***** other *************' **** ****** due ** ******* ***** camera ******.

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*******, ***** ** ~*** larger **** *** *** Hikvision ** ~*** ****** so ** ** ****** for *** ** **** in ********** *****.

Most ** ******* ************ ** ******** *****

~**% ** ***'* ***** come **** *** ******** business, ** ** ************ on *** *** ******** overseas ****** **** ******* business. ** *** **** 3 *****, *** *** consistently **** *** **** majority (~**-**% ) ** its ******* ********, ** heavily ********* ** ******** business ** *** *********** a ****** ****** ** COVID-19 ********* ***** ****** sales ******.

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********* ** *********** ****** **/*, *** "**** markets" *** ******** ** during **-** **** **** the "**, ******, *** Italy, ***."

***'* ***** ** *** US **** **% ** Q1-Q3 **** *** ********* just **** * ******* of *** ***** ** the ******.

Financial *********** ******* ** ***** ****** ********

***'* ******** ********* *********** in **-** **** *** "mainly **** *** ** its ******* ** ******* infrared *********** *********** ******** (红外测温产品) ***, ** * result, ****** ******* ***** profit *******," *** ********* in* ****** ********* ******. ** **** **** other ************* *** **** benefited **** * ***** in ***** ****** ******, TVT's ** **** ******* had ********* ~* ********** points *** **** *** overall *** *** ******** sector (**** ~**% ** 38%). **** ** * significant ******** ********* **** rising ***** ** **** margin ***** ****** ********. TVT *** *** ****** domestic ******* ** *** H1 **** ****** *** did *** ****** ******* for ** ****.

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Fever ****** ****** ******** ******* *** ***

***** ** ****** ** obvious ******** ** ***** camera ***** *** ***** manufacturers *********,****, ************, *** *** *** commented ** ******* *** margins *** ******* *** has ******** ** * more **********, ***-******** *****. However, ***'* ** **** profits **** ~***% ***, and ** ** ******* whether **** ******** ** profits ** ***** **** fever ****** ***** ** some *******.

Significant ** ******* ** **** ****** **** ***

******* *****-**, ***'* ** OEM ******** *** **** strong **** ****, ****** records ****. ********* ** available ****** *******, ***'* 2 ******* ********* ** weight *** ****** *** Speco, ******** ** ***** and *****.

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TVT ***** ** ************* **** ****

*** *** ****** ****** business ** *** ** from ***** ******* ** well ** *** *** looking *** *****************. *******, ***** ****** be ********, ** *** has **** ********* ** use ****** ********* ** certain ******** (**** ** its***** ******), *** ********* ** covered ** *** **** ban ** ****.

TVT ******** ** ****** ********: "******** ** ***** ** **, *****, *** *************"

***** *** ******** ** comment ** *** ******* state ** *** ***** camera *****, *** **** IPVM **** **** **** "heavily *********" ** **, cloud, *** ************* *** will ******** ** ***** on ***** ****** ** the ****** ** **** competitive ** *** ********:

*** *** **** ******* investing **** *** ** (people/vehicle **************, *** *** Facial ***********), ***** *** Cyber ******** **** *** past *****, *** **** will ******** ** ** our ***** ** *** years ** ****, ** want ** **** **** our ******* ***** ****** lead ** **** ** the *********** ** ***** of *** **********.

Market ******** ******** ** ** **** *******

*** ****** ******* ********** to ***'* ** **** results, **** *** ***** trading ** ~**% ** Monday **/**, *** ***** full *** ** ******* after ******* **** ********* on ****** **/**. *******, TVT ** ***** ******* below *** **** ** August ****. ************, *** is ******* ** ~**% from *** ********* ** 2020.

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