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MarketScreener Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  Hangzhou Hikvision Digital Technology Co., Ltd.    002415   CNE100000PM8

HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD.

(002415)
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Chip group to warn Trump administration against blacklisting China's SMIC: document

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09/17/2020 | 01:30am EDT
FILE PHOTO: A security officer stands outside a building of SMIC during its grand opening in Shanghai November 22, 2001.

Companies that supply the chip sector with sophisticated and expensive equipment plan to warn the Trump administration against a proposal to blacklist China's top chipmaker, Semiconductor Manufacturing International Corp, arguing it would be "detrimental" to U.S. industry.

The companies are represented by the semiconductor and electronics manufacturing suppliers industry group SEMI, which drafted a letter seen by Reuters that could be sent as soon as this week to Commerce Department Secretary Wilbur Ross.

In the draft letter, the group argued that blacklisting SMIC would jeopardize the United States' technological edge by making it harder for U.S. companies to supply the company, which accounts for as much as $5 billion in annual U.S. origin equipment and material sales.

They also argue that such a move would "contribute to a growing perception" that the delivery of U.S. goods is "unreliable" and hit U.S. market share worldwide.

"We urge the Department to carefully consider the immediate and long-term detrimental impacts to U.S. industry, economic and national security that may result from the addition of SMIC to the Entity List," said the group, which has 2,400 members worldwide, including SMIC and U.S. chip equipment makers Lam Research Corp and Applied Materials Inc.

The Commerce Department did not immediately respond to a request for comment.

Joe Pasetti, SEMI's vice president of global public policy, said: "We don't comment on draft letters leaked to the press."

Reuters reported earlier this month that the Defense Department was working with other agencies to determine whether to add SMIC to the Commerce Department's "entity list," which would force U.S. suppliers to seek hard-to-get licenses before shipping to the company.

Shares of the company plunged by nearly a quarter on the news.

SMIC said in a statement at the time that it was "in complete shock" over the news but was open to communication with U.S. government agencies in hopes of resolving any misunderstandings. While a Defense Department official did not disclose the motive for the proposed action, SMIC's relationship to the Chinese military is under scrutiny, sources told Reuters, as the Trump administration increasingly trains its focus on China's military muscle.

The entity list has been used as a tool by the administration against Chinese companies under scrutiny in Washington over national security concerns, from telecoms giant Huawei Technologies Co Ltd to surveillance equipment producer Hikvision.

By Alexandra Alper and Karen Freifeld


Stocks mentioned in the article
ChangeLast1st jan.
APPLIED MATERIALS, INC. -1.22% 60.95 Delayed Quote.-0.15%
HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD. 0.03% 39.15 End-of-day quote.19.58%
LAM RESEARCH CORPORATION -1.14% 353.92 Delayed Quote.21.04%
SEMICONDUCTOR MANUFACTURING INTERNATIONAL CORPORATION -0.97% 20.4 End-of-day quote.70.85%
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Financials
Sales 2020 63 395 M 9 484 M 9 484 M
Net income 2020 13 886 M 2 077 M 2 077 M
Net cash 2020 21 161 M 3 166 M 3 166 M
P/E ratio 2020 26,4x
Yield 2020 1,85%
Capitalization 366 B 54 713 M 54 734 M
EV / Sales 2020 5,44x
EV / Sales 2021 4,39x
Nbr of Employees 40 403
Free-Float 36,2%
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Technical analysis trends HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD.
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TrendsBullishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 25
Average target price 39,20 CNY
Last Close Price 39,15 CNY
Spread / Highest target 27,7%
Spread / Average Target 0,13%
Spread / Lowest Target -25,9%
EPS Revisions
Managers
NameTitle
Yang Zhong Hu General Manager & Executive Director
Zong Nian Chen Chairman
Hui Fang Cheng Chairman-Supervisory Board
Yan Jin Chief Financial Officer & Deputy General Manager
Hong Jia Gong Vice Chairman
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