(Yicai Global) June 12 -- There is not much Hikvision surveillance gear installed in foreign government buildings, Chinese surveillance equipment maker Hikvision Digital Technology said today, in response to reports that the UK will remove China-made surveillance devices from sensitive government sites.

The company just knew the message from media reports that the UK government will remove Hikvision devices from some sensitive locations, a staff member at the Hangzhou-based company said when contacted by Yicai Global.

Hikvision is operating well at the moment, Shenzhen Economic Daily reported today, citing an employee. The recent drop in share price might have to do with adjustments in the positioning of mutual funds, the person said.

The fund adjustments might also be behind the recent drop in profit and revenue. Hikvision's net profit plunged 20.6 percent in the first quarter from a year ago while revenue dipped 1.9 percent. Last year its net profit plummeted 23.5 percent year on year to CNY12.8 billion (USD1.8 billion) but revenue edged up 2.1 percent to CNY83.2 billion.

Hikvision’s share price [SHE:002415] closed down 1.8 percent at CNY31.75 (USD4.45) today. On June 9, the shares plunged 6.3 percent to a new year-to-date low. In the last two months, the stock has lost almost 35 percent of its value.

Editor: Kim Taylor