In the News: Dahua US Exit; HK Listing Boost; and China Sci-Tech Funding
April 24, 2024 | BY
Clarence LeeSurveillance camera maker Zhejiang Dahua exits U.S. market amid sanctions; China implements measures to boost mainland companies seeking to list in Hong Kong; and China rolls out measures to boost overseas investments in domestic sci-tech companies.
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Credit: Lewis Tse Pui Lung/Adobe Stock
Sanction-hit Dahua Exits US Market
Chinese surveillance camera maker Zhejiang Dahua has sold its remaining fully owned subsidiary in the U.S. after being hit with sanctions over the years, Nikkei Asia reported.
In its latest annual report, Dahua revealed that it has sold all its shares in Dahua Technology USA to Central Motion Picture USA, a unit of privatized Taiwanese film and visual content producer Central Motion Picture Corp., for $15 million. The agreement was signed on Jan 3 and was completed within a few weeks.