SVAC Alliance Conference Held in Beijing as SVAC Standard Enters New Phase
BEIJING, July 26, 2013 /PRNewswire/ -- The SVAC (Surveillance Video and Audio Coding) industry and technology alliance conference (the "Conference") was held on July 23, 2013 in Beijing and was attended by representatives from the Ministry of Public Security (MPS), the Standardization Administration of the People's Republic of China (SAC), the Ministry of Science and Technology, the Ministry of Industry and Information Technology (MIIT), the National Development and Reform Commission (NDRC), as well as the members of the SVAC Alliance (the "Alliance").
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The GB/T25724-2010 national standard for Surveillance Video and Audio Coding (i.e., the SVAC standard), established by MPS and MIIT and co-developed by Vimicro International and MPS, was enacted on May 1, 2011. This standard, which uses domestically developed proprietary intellectual property, is regarded as a National Key Strategic Standard.
At the Conference, the Director of MPS said that over 10 million surveillance cameras have been installed in China and are in use by police departments and agencies for security and surveillance purposes. The SVAC standard allows public security officers to share critical video data, as well as analyze information intelligently and efficiently.
The officials congratulated the SVAC Alliance for making notable progress in technology research and product development. MPS and Vimicro together co-founded the Alliance, for the development, promotion, and commercialization of the SVAC standard, which counts most major Chinese surveillance companies and research institutions as its members. Hikvision and Dahua, the two largest video-surveillance companies in China, recently joined the Alliance.
At the Conference, the formation of a cross-ministry SVAC Promotion Office (the "Office") was announced, which will be directly led by the Chinese State government. As a next step, the Office has authorized MPS to draft a provision for security-technology management. After successfully completing many extensive trials, the SVAC standard has entered a new phase -- the deployment phase -- in China.
About Vimicro International Corporation
Vimicro International Corporation is a leading multimedia semiconductor and solution provider that designs, develops and markets mixed-signal semiconductor products and system-level solutions that enable multimedia capabilities in a variety of products for PC/Notebook, consumer electronics and surveillance markets. Vimicro is aggressively expanding business into the surveillance market with system-level solutions and semiconductor products to capitalize on China's domestic demand. Vimicro's ADSs, each of which represents four ordinary shares, are currently trading on the NASDAQ Global Market under the ticker symbol "VIMC."
Vimicro International Corporation
Mr. David Tang, Chief Strategy Officer
Phone: +86 (10) 6894 8888 ext. 8811
Ms. Serena Zhang, Investor Relations Assistant
Phone: +86 (10) 6894 8888 ext. 7552
CCG Investor Relations
Mr. John Harmon, CFA, Sr. Account Manager
Phone: +86 (10) 8573 1014 (Beijing)
SOURCE Vimicro International Corporation
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