Uniview H1 2020 Financials Examined
While Dahua and Hikvision, helped by fever camera sales, are recovering from COVID-19 shocks, Uniview is still experiencing a sales and profit slow down.
Uniview, the self-proclaimed "#3" in China video surveillance behind Dahua and Hikvision, was sold to China Transinfo, a smart traffic company, in 2017. While growth in recent years has been positive, sales and profit growth have both slowed due to the pandemic. This brings trouble for Uniview as it has an agreement with Transinfo to deliver a certain level of financial performance between 2017-2020.
In this post, we examine Uniview's H1 2020 financial disclosures and what this means for Uniview going forward, including:
- Declining revenue and profits
- Comparisons to leaders Dahua and Hikvision
- Overseas sales growth led by fever cameras
- Uncertainty in hitting 2020 profit goal
Revenue **** *.**%, *** ******* **** **.**%
** **** ******* ***** **** **** 1.88% *** ** $*** ******* *** (figures ***** *** ** ******* ***):
******** *******'********** ****** ** *******.
** **** *** ******* **** **** 13.19% ** $**.* ******* ***. ** H1 ****, ******* **** ****** $** million *** ** *******, *** **** in ** ****, ** ****** ******* $30 ******* *** ** *******.
Uniview *******
*******, ******* ******* ** *** ********* of ******** ******* ** ***** ********* results, ******* ***** ******* *** ******** and **** ******* ******** ***-******* *******.
** *** ***** ****,******* *** ******** ***** **** ********* results(*.** ******* *** *******) *** **** matched ****** ******* **** ******* ******* ** ******** *******(*.*** ******* ***). ** ****, **** signals **** *******'* ******* *** *** same ** ********* *********** ** *******.
Uniview's ******* ********* ******** ** ****** ***** *** *********
***** ******* / ******* *** ** operating ****** ****, ***** *** ********* had ****** *****. ***** ***** *** Hikvision ********* ** ** ****, **** have **** ********* ** ** ****** by ***** ****** *****. ** ** 2020, **** ********* ******** ** ******** in ****** ****** ** ****** **%. Dahua's ** ******* ****** **.**% *** ** $*** ******* USD. *********'* ** ******* ****** *.**% *** ** $*** ******* USD. ******* *** -**.**% ******** ** profits *** **** ** $**.* ******* USD.
*******'* -*.**% ******* ****** ************ *****'* but *** *********'*. *****'* ******* ************** *% ** $*.* ******* ***, ***** *********'********** ******** (*.**%) ** $*.** ******* USD. *******'* ***** ********* ********, *** its ***** *** ***** ** *** hundreds ** ******** *****, ***** ** significantly ******* **** *** ******** ** sales #* ********* *** #* ***** are *****.
Overseas ***** ****** *** ** ***** ****** ******
*******'* ******** ***** *** **** ******, similar ** ********* *** *****'* ***********.
***** *** ***** ***** ***** ******* by ******** ********* (******** *** ********) for *** ******** ** *********. ****** all ** *********'* ******** ******* ***** from *******'* ******** **********. ********* ******* on********* ***** ************** ********* ** **** China*** *** ******, ** ***, *********, outside ** *****.
** *** ****, ******* **** ******** sales ***~*/* ** ***** *******. ** ** ****, ****** ** 1/3 ** *******'* ***** ******* *** be ********** ** ******** *****, **** research *********. *********'* ** **** ****** shows * *********** ****** ********, ****** 27% ***. *****, *********'* ******** ***** can ****** *** ********** ** *******, so **** ** **** ****** ****** came **** *******'* ******* ***** ****** sales.
***** *******'* ******** ****** ******** **** of ********* *** *****, ** ******* from * ***** ******** *** *** more **** ** **** ****** *** pandemic. *******, *******'* ******** ***** ****** growth ** *** ** ***** ** the ****** ** ********** ***** ******** that ********* *** ***** **** ***. Uniview ** **** ******* */** *** of ********* *** */* *** **** of ***** **** ********* **** ****** revenue.
Uniview's ******* ** ******* ** ******* *** ******* ** **** *********
******* ** ** **** ** ****** Transinfo ** *********** ****, ** **** is *** ***** **** **** *** not ** **** ** ******* *** profit ******* ******** ************* ******* *** ******** ** ****. The ***** ***** ***** **** ** year *** *** **** **** ****:
******* *************** ** ** ******** ***** ******* is ****** **** ****** *** ******* is ******* ** **** ********* ** opportunities ** ******** ********* ******** *** as *** ******** ******* ********** ********.
***** ******** *********** **** ****** ***** sales **** ** *******'* ********** ********, it ** ******* ******* ********* ******** conditions ******** **** **** ** ****** Uniview's ***********. *******'* ******** ******* ****** in ** ****, *** **** *** largely *** ** ***** ****** *****. As *** ******** ******** *** ***** camera ****** ******** ********, ******* *** see * ******** ** *** ******** markets *** **** ** ****** ** reach *** ****** ****.
US ********* *******
***** ******* *********** ***** *** ********* have **** ********** ** *** **, Uniview *** *** ******** *** ******** significantly ** *** ****** ******. **** has **** ** *********** *** **** Hikua *********** *** *******, *** ******* that *** *** ***** ** **, has *** ************ ***** ********* ** this.
Uniview's ****** *********** *** ***** **********
******* *** **** **** ******** ******* of ******** ** ****** ********* ******** *** ****** ********. ** ********* against ****** **** ***************** ***** *** ****** ** ********* chips. ******* ******* **** ********* **** to ***** *** *******, ** ** may ** ******* ** ***** ** a ********** ********* *********** ** *** long-term ** ********* ** *** **** to **** * ***, ********** ************ for *** *****. ******* **** *** a **** ****** ********** ** ****** as ** *** "******** *** ************ ******** ** ***, a ***** ******* ******* **** *** Huawei." **** ****** ******* ******* ******* and ****** *** ***** ** ** a ************ ** *** ** ******* to ****** **** ************ ** ****** and ***** ***** ********.
******* ***** *** ***** ** ** #3 ** **. ***** ** * huge ******* *** ******* **** *** Dahua.
** *****? ***'* #* ****? ***? Longse? ******? *******? ******? * ** think ******* ** #* ** ***** though **'* *********** *** ********* *** China ****** *** ****** **** ********* and *****.
**** * ****, * ***'* **** for ****, **** **** ***** **** a ****** *** ******* ***. ** Uniview ****** ** #*, **** **** means *** ***** ***** ********* *** doing **** **** **** **** ***, where * ***** **** ******** **** of *** ****** ***/***'* ** ** above $****.
***** * ***** **** ******** **** of *** ****** ***/***'* ** ** above $****.
**** **** ** **** **** **** those '*****' ***** *********, *** *** revenue ** ********* ** *** $*** to $*** ******* *****. **'* ********* a ******** *** ******* ***** *** the **** ** *****.
*** **** * ** ****** **** for * *** ***********, *** ***** in *** ** **** ****** ***'** a *** ***** ******* ** *** US ********. ****** **** *** *** are *** ****'** ***** ****** **** 1 ** *.
* ******* **** *** ******* *****/************* to *** ********* *****, *'* **** they **** ******* ****.
***** *** * ****** **** - non-Hisilicon *** ****, ***** ******* ** doing, *** **** ** ** ***** Hisilicon ** *******.** ******** *** ********, ** ************ ******* *********** ******'* ******* ** make ***** ** *******, **** ** not. ********* ** *** **** **********, Uniview ***** **** ** **** * general *********** ** ******, *** **** for ****.
**** ** * ******* **** ** NVRs ****, ***** **** **** *** going **** ******* *** ****. ******* there ** ****** ***** *** ****** to **** *****, ** **** *** blacklisted **********.
***********, ******* *** * ******* **** ESA, **** ***** **** ******* ******* NDAA ******** *** ***** ***** ************ sales:
******* ***** *** *** ********* ** the ** ** ******** *** *** sure ** **** ** * **** / ***** ********.
******* ***** *** ***** ** ** #3 ** **. ***** ** * huge ******* *** ******* **** *** Dahua. *** **** **** **** *** using *** *** ***** ** ********** (eg: ***** **** **** ******* ******* instead ** ***** *******). ** *** feel ***** ** **** * ******** kind ** *******, ******* ****** ** an *** ** ***** ******, ***** be **** ** ** **** **** $500M ** ******** ** *** *** of ***** ** **** ******* *** the #* ****.