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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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Hangzhou Hikvision Digital Technology : IBM says U.S. should adopt new export controls on facial recognition systems

09/11/2020 | 08:11am EST
FILE PHOTO: Man stands near an IBM logo at the Mobile World Congress in Barcelona

IBM Corp said on Friday the U.S. Commerce Department should adopt new controls to limit the export of facial recognition systems to repressive regimes that can be used to commit human rights violations.

The company said in a statement the United States should institute new export limits on "the type of facial recognition system most likely to be used in mass surveillance systems, racial profiling or other human rights violations."

In July, the Commerce Department had sought public comments on whether to adopt new export license requirements for facial recognition software and other biometric systems used in surveillance. Comments are due by Sept. 15.

Christopher Padilla, IBM's vice president for government and regulatory affairs, told Reuters the U.S. government should focus on "one to many" systems that could be used to pick dissidents out of a crowd or for mass surveillance, rather than "facial identification" systems that allow a user to unlock an iPhone or board an airplane.

IBM said the Commerce Department should control "export of both the high-resolution cameras used to collect data and the software algorithms used to analyze and match that data against a database of images" and argued it should "limit the ability of certain foreign governments to obtain the large-scale computing components required to implement an integrated facial recognition system."

The company's written comments did not identify specific governments but said "controls on the most powerful types of facial recognition technology should be focused on those countries that have a history of human rights abuses."

The Commerce Department's July notice said China "has deployed facial recognition technology in the Xinjiang region, in which there has been repression, mass arbitrary detention and high technology surveillance against Uighurs, Kazakhs and other members of Muslim minority groups."

The department has added dozens of Chinese companies and entities to an economic blacklist that it said were implicated in human rights violations regarding China's treatment of Uighurs, including video surveillance firm Hikvision, as well as leaders in facial recognition technology SenseTime Group Ltd and Megvii Technology.

China has denied mistreating people in Xinjiang.

IBM said the Commerce Department should also restrict access to online image databases that can be used to train facial recognition systems.

In June, IBM told the U.S. Congress it would stop offering facial recognition software and opposes any use of such technology for purposes of mass surveillance and racial profiling. The company also called for new federal rules to hold police more accountable for misconduct.

By David Shepardson


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
APPLE INC. -0.66% 122.1514 Delayed Quote.67.66%
HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD. 0.81% 45.87 End-of-day quote.40.10%
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Financials
Sales 2020 62 927 M 9 637 M 9 637 M
Net income 2020 13 548 M 2 075 M 2 075 M
Net cash 2020 21 275 M 3 258 M 3 258 M
P/E ratio 2020 31,7x
Yield 2020 1,59%
Capitalization 429 B 65 638 M 65 644 M
EV / Sales 2020 6,47x
EV / Sales 2021 5,30x
Nbr of Employees 40 403
Free-Float 37,2%
Chart HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD.
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Hangzhou Hikvision Digital Technology Co., Ltd. Technical Analysis Chart | 002415 | CNE100000PM8 | MarketScreener
Technical analysis trends HANGZHOU HIKVISION DIGITAL TECHNOLOGY CO., LTD.
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TrendsBearishBullishBullish
Income Statement Evolution
Consensus
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Mean consensus BUY
Number of Analysts 22
Average target price 41,88 CNY
Last Close Price 45,87 CNY
Spread / Highest target 22,1%
Spread / Average Target -8,70%
Spread / Lowest Target -30,2%
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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