China’s Huawei reports sales fall amid US sanctions but profits hit record
by Vincent Ni from Technology | The Guardian on (#5XJXR)
Top boss Meng Wanzhou makes first public appearance since her release from custody in Canada last year
Chinese telecoms company Huawei has reported a decrease in sales but record profit for 2021, as its top executive, Meng Wanzhou, made her first public appearance since being released from Canadian custody last autumn.
The Shenzhen-based company said on Monday its net profits surged 75.9% year on year to 113.7bn yuan (13.6bn), despite US sanctions. But its revenue skidded 29% to 636.8bn yuan, in line with Huawei's previous forecast in December.
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