Hikvision cancels 5 biometric surveillance contracts in East Turkistan

Hikvision Cancels East Turkistan (Xinjiang) Contracts Amid Potential U.S. Sanctions
CONTRACT CANCELLATION
Hikvision cancelled five contracts with local governments in East Turkistan (Xinjiang)
Estimated contract value in the low hundreds of millions of dollars
Contracts originally signed in 2017
BACKGROUND ON EAST TURKISTAN
Home of Uyghur Muslims
China accused of systematic displacement and oppression
Government claims actions are counter-terrorism measures
U.S. POLITICAL CONTEXT
Trump previously blacklisted Hikvision in 2019
Biden added Hikvision subsidiaries to entity list
Incoming Secretary of State Marco Rubio critical of the company
MOTIVATIONS FOR CONTRACT CANCELLATION
Likely attempting to preempt potential sanctions in Trump's second term
Avoiding further scrutiny over human rights concerns
Concerns about facial recognition technology targeting Uyghurs
COMPANY PERFORMANCE
Hikvision's profits dropped 8.4% in first three quarters of 2024
Facing economic challenges amid broader Chinese economic slowdown