China Surveillance Giant Warns Of Losses After US Bans
Chinese surveillance company Hikvision has warned it may lose customers in overseas markets because of its US blacklisting.
The warning underscores the extent to which curbs on the sale of American technology may hurt the world’s largest video surveillance business.
It follows Hikvision’s Q3 earnings report in which net income grew 17% to 3.81 billion yuan, while revenue grew 23%. The company also forecast growth of up to 20% in net income this year despite the blacklisting.
The seller of global video surveillance cameras has been accused of involvement in human rights violations is far-western China.
