BEIJING, Sept. 30, 2013 /PRNewswire/ -- Vimicro
International Corporation (NASDAQ: VIMC) ("Vimicro" or the
"Company"), a leading video-processing IC and surveillance solution
provider, today announced that its subsidiary Vimicro Electronics
Corporation ("ZXDZ") has received an order for a SVAC (Surveillance
Video and Audio Coding)-based technology solution, valued at
approximately USD $9 million.
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ZXDZ placed a successful bid for a city-wide surveillance
network project in Ziyang city in Sichuan province, which will be based on SVAC
and deployed in cooperation with China Unicom. The network is being
installed for the assurance of public security, and total spending
on the project will be approximately $14.5
million, of which around $9
million will be contracted to ZXDZ. The system will be
comprised of hundreds of video surveillance stations installed in
the city, and the project is expected to be completed by the end of
the calendar year. This project represents the first phase of a
larger installation in Ziyang city and in the surrounding
county.
The project will feature SVAC technology, which is a core
standard for video surveillance in China, co-developed by Vimicro and the
Ministry of Public Security along with contributions from more than
50 scientific research institutes, universities, and
security-industry companies. During the past two years,
Vimicro has installed several SVAC test sites across China and recently completed a successful
field-trial of the SVAC standard.
"We are pleased to have been selected to provide this major
video-surveillance system in Ziyang city in Sichuan province. This project represents the
first safe-city project in Sichuan
province to fully adopt the SVAC technology standard, and it also
marks SVAC's geographic adoption beyond Shanxi province," commented Dr. John Deng, Vimicro's Chairman and Chief
Executive Officer. "The project is another key validation of the
national video surveillance standard and of Vimicro's technology
and capabilities, as the SVAC test sites we have deployed
throughout China are now turning
into substantial orders."
About Vimicro International Corporation
Vimicro International Corporation is a leading video-processing
IC and surveillance solution provider that designs, develops and
markets mixed-signal semiconductor products and system-level
solutions. Vimicro is aggressively expanding into the surveillance
market with dedicated chips and networked system-level solutions.
Its surveillance products include image processing chips and video
terminal and monitoring platforms for use in public security,
China's Safe City and Digital City
initiatives, intelligent transportation systems, and production
safety. Vimicro's ADSs, each representing four ordinary
shares, currently trade on the NASDAQ Global Market under the
ticker symbol "VIMC."
Forward-Looking Statements
This announcement contains forward-looking statements. These
statements are made under the "safe harbor" provisions of the U.S.
Private Securities Litigation Reform Act of 1995. These
forward-looking statements can be identified by terminology such as
"will," "expects," "anticipates," "future," "intends," "plans,"
"believes," "estimates," "confident" and similar statements. Among
other things, the quotations from management in this announcement,
as well as Vimicro's expectations and forecasts, contain
forward-looking statements. Vimicro may also make written or oral
forward-looking statements in its periodic reports to the U.S.
Securities and Exchange Commission on forms 20-F and 6-K, etc., in
its annual report to shareholders, in press releases and other
written materials and in oral statements made by its officers,
directors or employees to third parties. Statements that are not
historical facts, including statements about Vimicro's beliefs and
expectations, are forward-looking statements. Forward-looking
statements involve inherent risks and uncertainties. A number of
factors could cause actual results to differ materially from those
contained in any forward-looking statement, including but not
limited to the following: the Company's ability to develop and sell
new mobile multimedia products; the expected growth of the mobile
multimedia market; the Company's ability to increase sales of
notebook camera multimedia processors; the Company's ability to
retain existing customers and acquire new customers and respond to
competitive market conditions; the Company's ability to respond in
a timely manner to the evolving multimedia market and changing
consumer preferences and industry standards and to stay abreast of
technological changes; the Company's ability to secure sufficient
foundry capacity in a timely manner; the company's ability to
effectively protect its intellectual property and the risk that it
may infringe on the intellectual property of others; and
cyclicality of the semiconductor industry. Further information
regarding these and other risks is included in Vimicro's annual
report on Form 20-F filed with the Securities and Exchange
Commission. Vimicro does not undertake any obligation to update any
forward-looking statement, except as required under applicable law.
All information provided in this press release is as of the date
hereof, and Vimicro undertakes no duty to update such information,
except as required under applicable law.
Company
Contact:
Vimicro International
Corporation
Mr. David Tang, Chief
Strategy Officer
Phone: +86 (10) 6894
8888 ext. 8811
E-mail:
tangzhenyu@vimicro.com
|
Investor
Contact:
CCG Investor
Relations
Mr. John Harmon, CFA,
Sr. Account Manager
Phone: +86 (10) 8573
1014 (Beijing)
E-mail:
john.harmon@ccgir.com
|
Ms. Serena Zhang,
Investor Relations Assistant
Phone: +86 (10) 6894
8888 ext. 7552
E-mail:
zhangna@vimicro.com
www.vimicro.com
|
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SOURCE Vimicro International Corporation