Dahua, China’s second-largest manufacturer of surveillance equipment, one of China’s tech companies, blacklisted by Washington last year, helped monitor and apprehend Beijing’s Uighurs and other Muslim minorities.
Sources said Alibaba Group Holdings Ltd and China Mobile Communications Group Co Ltd are planning to invest 3 billion yuan ($ 443 million) in Zhejiang Dahua Technology Co.
Dahua, China’s second-largest manufacturer of surveillance equipment, one of China’s tech companies, blacklisted by Washington last year, helped monitor and apprehend Beijing’s Uighurs and other Muslim minorities. Blacklisted individuals may not purchase U.S. technology without U.S. government approval.
, the leader in e-commerce, and China Telecom, a leading telecommunications group, are planning to jointly invest in Shenzhen-listed Dahua with a market capitalization of $ 10.3 billion.
China Mobile is negotiating a three-year business deal with Dahua worth 40 billion yuan. Two people said they refused to recognize the plans as private.
She said the deal would give China Mobile Dahua’s big data, cloud computing services, video surveillance equipment, and Internet of Things (IoT) technology.
Smart City Demand
As the government builds more than 500 smart cities around the world with state-of-the-art surveillance technology networks, the use of technology such as facial recognition to address a wide range of issues in public places such as traffic and public health. , Increases.
The initiative will be a boon to Hong Kong-based Dahu and rival Hong Kong Higuision Digital Technology Co. Ltd., which offers products such as video surveillance, access control, and remote image monitoring systems.
China’s smart city market is expected to grow from 7.9 trillion yuan in 2018 to 25 trillion yuan by 2022, according to researcher Qian Shan. As global demand for thermal cameras has increased, so has the potential for the COVID-19 pandemic.
Reuters reports that Amazon.com bought 1,500 cameras in 50 countries under a $ 10 million deal to capture workers’ temperatures.
Dahua Chairman Fu Liquan is the largest with a 34 percent stake in Watchdog, and minority shareholders, including state-owned Central Hussein Asset Management, have shown the company’s first-half earnings report for 2020.
($ 1 = 6.7721 Chinese Yuan Renminbi)