Part 8/9:
During 2023, Hikvision's contract terminations in Xinjiang, coinciding with increasing U.S. sanctions, signaled a turning point in its operational strategy. Despite the apparent decline, company officials proclaimed that operational adjustments were being made, not layoffs, even as reports of workforce reductions surfaced indicating significant impacts especially within research and development divisions.
The Future of Hikvision
Despite its status as a state-owned enterprise benefiting from CP-supported funding, Hikvision's future appears uncertain, with deteriorating finances and increasing legal scrutiny shaping its trajectory. The company’s once-reliable contracts are drying up as local governments face financial distress following China’s broader economic downturn.