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Huawei pays $9.65 billion in dividends to present and retired workers

The Huawei brand is pictured on the headquarters constructing in Studying, Britain July 14, 2020. REUTERS/Matthew Childs

SHANGHAI, April 5 (Reuters) – Huawei Applied sciences (HWT.UL) has paid dividends totaling 61.404 billion yuan ($9.65 billion) to present and retired employees beneath its worker inventory possession program, in response to a file filed with the Shanghai Clearing Home.

Based on the corporate’s 2021 annual report launched final week, some 131,507 present and former employees are concerned within the inventory plan. learn extra The corporate is privately owned and 100% employee-owned, he stated.

The file, revealed on Saturday, doesn’t element the distribution of dividends.

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It comes as US sanctions proceed to weigh closely on Huawei’s enterprise, with full-year income falling 29% final yr to 636.8 billion yuan.

Web revenue jumped a document 76% to 113.7 billion yuan, however that was primarily as a result of sale of its Honor smartphone unit and server enterprise beneath stress from america.

The US imposed a sequence of commerce restrictions on Huawei all through 2019 and 2020, citing nationwide safety considerations, which Huawei denies.

The restrictions have hampered Huawei’s potential to design its personal chips and supply parts from exterior suppliers, crippling its smartphone enterprise.

Guo Ping, Huawei’s present rotating chairman, stated final week that the corporate nonetheless hoped to discover a resolution to help its smartphone division and would improve analysis funding in quest of microchip “breakthroughs” after dropping. entry to sure superior applied sciences because of US sanctions.

($1 = 6.3625 Chinese language Yuan)

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Reporting by David Kirton; Modifying by Jacqueline Wong

Our requirements: The Thomson Reuters Belief Rules.