Technology

Here’s how a great deal Huawei paid in dividends to current and retired workers

Huawei Technologies compensated out dividends totalling 61.404 billion yuan ($9.65 billion) to present-day and retired personnel in its worker shareholder scheme, according to a submitting with the Shanghai Clearing House.

Some 131,507 latest and previous workers are concerned in the shareholder plan, in accordance to the company’s 2021 once-a-year report produced very last week. The company is non-public and wholly owned by its staff, it explained.

The submitting, released on Saturday, does not break down the dividend distribution.

It arrives as U.S. sanctions go on to weigh heavily on Huawei‘s organization, with whole-yr profits tumbling 29% past calendar year to 636.8 billion yuan.

Net gain jumped by a document 76% to 113.7 billion yuan, but that was generally thanks to the sale of its finances-model smartphone device Honor and server firms under U.S. pressure.

The United States imposed a series of trade restrictions on Huawei through 2019 and 2020, citing countrywide stability concerns, which Huawei denies.

The limitations impeded Huawei’s means to style and design its very own chips and to source components from outside suppliers, crippling its smartphone enterprises.

Guo Ping, Huawei’s current rotating chairman, mentioned last 7 days that the firm still hopes to discover a answer to sustain its smartphone division and will ramp up investment in research trying to find microchip “breakthroughs” right after dropping access to specific sophisticated technologies due to the fact of U.S. sanctions.

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