China Probes Billionaire Exec at U.S.-Blacklisted Hikvision
- Investigation is said to be related to employee bonus plan
- U.S. blacklisted Hikvision for alleged rights violation role
This article is for subscribers only.
Hangzhou Hikvision Digital Technology Co. Ltd.’s shares fell by the most in more than a month after China’s securities regulator opened a probe into alleged misconduct by its billionaire vice chairman.
The investigation, announced in a filing Wednesday, deals another blow to the surveillance giant that’s blacklisted by Washington. The Chinese seller of video cameras said the China Securities Regulatory Commission is probing two of its board members -- Gong Hongjia and Hu Yangzhong -- adding that the pair are cooperating with authorities.