Log in
E-mail
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Settings
Settings
Dynamic quotes 
OFFON

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

HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD.

(002415)
  Report
SummaryChartsNewsRatingsCalendarCompanyFinancialsConsensusRevisions 
SummaryMost relevantAll NewsAnalyst Reco.Other languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

Exclusive: India import hurdles hit Apple iPhone, Xiaomi devices from China - sources

11/25/2020 | 05:28am EST
FILE PHOTO: The Apple logo is displayed at an event at their headquarters in Cupertino

NEW DELHI (Reuters) - India's tight control of quality clearances for electronic goods from China slowed the import of Apple's new iPhone model last month and held up other products made by companies like Xiaomi, according to two industry sources.

Applications to the quality control agency, the Bureau of Indian Standards (BIS), typically used to be processed within 15 days, but some are now taking up to two months or longer.

BIS started delaying approvals in August for China-made imports of devices like smartphones, smartwatches and laptops, part of the fallout from deteriorating ties with China after a border clash in June that left 20 Indian soldiers dead.

Since the clash India has tightened rules for investments from China and banned hundreds of Chinese mobile apps, including from tech giants Tencent, Alibaba and ByteDance. It banned 43 more apps on Tuesday.

When Apple's new iPhone 12 was caught in the delays, Apple India executives called on BIS to speed its approval up, giving assurances that the company would continue to expand its assembly operations in India, the two sources said.

It was not clear how long the iPhone 12 application was delayed, and Apple did not respond to a request for comment.

The company has assembly operations in India, but newer models and the iPhone 12 are imported from China, where contract manufacturers make the bulk of Apple's devices.

As of Wednesday, 1,080 applications to BIS for laptops, tablets and other devices were pending, with 669 of those waiting more than 20 days, according to the agency's website.

These included applications for devices from China-based factories of Wistron and Compal Electronics, and from Hangzhou Hikvision, the data showed.

Some of the applications for approval have been pending since September.

CALLS FOR BOYCOTTS

Indian traders and Hindu nationalist groups have for months called for boycotting imported products from China because of the border clash, while Prime Minister Narendra Modi continues to promote self-reliance and local production.

"While the BIS is delaying approvals for products like smartwatches, the Ministry of Electronics and Information Technology is pushing companies to make these devices in India," said one of the sources.

Under BIS's registration scheme, certain electronic goods - whether imported or locally made - need to meet certain standards. After companies get their products tested in a certified laboratory, BIS approves the applications.

Wistron and Compal did not respond to requests for comment. Hikvision declined to comment.

BIS Director General Pramod Kumar Tiwari and India's tech ministry did not respond to requests for comment.

The clearance delays are the latest headache for technology companies whose supply chains were hit by the COVID-19 curbs, pushing some smartphone makers to resort to imports of even models made in India. The delays also come during India's festive season when customers make big ticket purchases of everything from mobile phones to gold and cars.

The BIS delays have also hit smartwatch imports for companies including Xiaomi and Oppo, the two sources said.

Xiaomi and Oppo did not respond to requests for comment.

In July, India's trade ministry also restricted inbound shipments of TVs by requiring importers to get a special licence, a move that one of the sources said continues to hurt companies such as Xiaomi and Samsung Electronics.

Xiaomi was denied the special licence to import roughly 30,000 units of TVs, while Samsung has faced similar import hurdles, the source said.

Samsung did not respond to a request for comment.

(Reporting by Sankalp Phartiyal and Aditya Kalra; Additional reporting by Aditi Shah; Editing by Euan Rocha and Tom Hogue)

By Sankalp Phartiyal and Aditya Kalra


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
ALIBABA GROUP HOLDING LIMITED -0.53% 258.62 Delayed Quote.11.72%
APPLE INC. 1.61% 139.07 Delayed Quote.-0.50%
COMPAL ELECTRONICS, INC. 2.40% 21.3 End-of-day quote.2.90%
HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD. 5.60% 66.74 End-of-day quote.37.58%
SAMSUNG ELECTRONICS CO., LTD. -1.48% 86800 End-of-day quote.7.16%
TENCENT HOLDINGS LIMITED 1.25% 691 End-of-day quote.22.52%
WISTRON CORPORATION 2.68% 30.7 End-of-day quote.-0.97%
XIAOMI CORPORATION -3.72% 29.8 End-of-day quote.-10.24%
All news about HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD.
01/21HANGZHOU HIKVISION DIGITAL TECHNOLOG : How to boost road safety and beat congest..
PU
01/14SEECLEAR : focus on excellence with 5 Hikvision core technologies
PU
01/11BlackRock says ETFs match index cuts of China stocks
RE
01/11BlackRock says ETFs match index cuts of China stocks
RE
01/08FACTBOX : Benchmark index providers remove Chinese firms after U.S. investment b..
RE
01/07HANGZHOU HIKVISION DIGITAL TECHNOLOG : Top 10 Security Industry Trends in 2021
PU
01/05FTSE Russell To Remove Three Chinese Companies From Global Equity Indexes Ami..
MT
01/04FTSE Russell cuts three more China firms from indexes after U.S. blacklist
RE
2020INSTANT VIEW 2-China gives conditional approval to Sinopharm COVID-19 vaccine
RE
2020China gives its first COVID-19 vaccine approval to Sinopharm
RE
More news
Financials
Sales 2020 62 755 M 9 683 M 9 683 M
Net income 2020 13 545 M 2 090 M 2 090 M
Net cash 2020 21 015 M 3 243 M 3 243 M
P/E ratio 2020 46,0x
Yield 2020 1,08%
Capitalization 624 B 96 209 M 96 216 M
EV / Sales 2020 9,60x
EV / Sales 2021 7,93x
Nbr of Employees 40 403
Free-Float 37,2%
Chart HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD.
Duration : Period :
Hangzhou Hikvision Digital Technology Co., Ltd. Technical Analysis Chart | MarketScreener
Full-screen chart
Technical analysis trends HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD.
Short TermMid-TermLong Term
TrendsBullishBullishBullish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 19
Average target price 44,18 CNY
Last Close Price 66,74 CNY
Spread / Highest target 3,36%
Spread / Average Target -33,8%
Spread / Lowest Target -52,1%
EPS Revisions
Managers and Directors
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
Sector and Competitors
1st jan.Capitalization (M$)
HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD.37.58%91 385
GARMIN LTD3.44%23 671
ZHEJIANG DAHUA TECHNOLOGY CO., LTD.24.59%11 260
ALLEGION PLC-1.15%10 588
ADT INC.16.31%7 536
FLIR SYSTEMS, INC.23.61%7 105