Sanctioned Chinese security camera maker Dahua divests from U.S.

HONG KONG -- Zhejiang Dahua Technology, a major Chinese surveillance camera manufacturer, has sold its fully owned subsidiary in the U.S., virtually divesting from the country after it was slapped with a series of sanctions over the years.

Dahua disclosed in its latest annual report, published Monday evening, that the group had completed the disposal of all shares in Dahua Technology USA. The buyer is Central Motion Picture USA, a unit of a Taiwanese filmmaker, which paid $15 million. The deal also included the sale of $1 million worth of inventory products from Dahua's Canadian unit to the purchaser.