Meng Wanzhou, the Huawei executive who has been at the center of a strong tension between the United States and China, she reappeared in public for the first time after returning to Shenzen last September. Wanzhou, accused by the US Department of Justice for banking fraud and avoiding economic sanctions against Iran, avoided extradition to the United States after nearly three years of detention in Canada.
“The last time I attended Huawei’s earnings conference was four years ago,” Wanzhou said at the press meeting where they were explained. the economic results obtained by the Chinese company in 2021.
Wanzhou, who holds the position of chief financial officer at Huawei, said the company is poised to re-emerge from the “dark zone” it has ended up in due to US sanctions.
In May 2019, for national security reasons, then President Donald Trump entered Huawei in a list of “business entities” prohibited from purchasing US technology without specific authorization. The ban hit Huawei hard, which could no longer rely on Google’s semiconductors and services for its smartphones, among other things.
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“We managed to survive 2021 – said Guo Ping, president of Huawei who attended the meeting – but our struggle for survival is not over yet”.
In 2021, Huawei reported a net profit of $ 17.8 billion, up 75.9% despite the fact that the company recorded a decline in revenues of 28.6% compared to 2020. The growing profits are explained by an internal reorganization of the company, which included the sale of the Honor brand in 2020.
For the first time, based on data released by the company, Huawei has announced an annual drop in profits. The trend was evident: in 2020 the turnover of the Shenzen company had grown by only 3.2% compared to the previous year. The latest surge occurred in 2018, before the US inflicted saznioni, when Huawei’s annual revenues had grown by 19.5%.
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According to Meng Wanzhou, daughter of the founder of Huawei, in addition to the US sanctions, the Covid pandemic, the problems linked to the distribution chain and low demand for 5G base stations in China. But for Huawei’s CFO, “the company is now able to deal with uncertainties”.