Huawei founder Ren Zhengfei attends a panel discussion at the company’s headquarters in Shenzhen, Guangdong province, China on June 17, 2019.
Song of Aly | Reuters
BEIJING Chinese telecommunications giant Huawei has said it is expanding its team of scientists even as the company has lost revenue as a result of US sanctions.
It’s a safe bet that doubling down on research can help China develop its own technologies, now that the United States under President Joe Biden’s administration is determined to compete with Beijing and has maintained restrictions on access from the Chinese company to the United States semiconductor technology.
Huawei CEO Ren Zhengfei claimed in an internal meeting in early August that the company paid its growing workforce on time, despite pressure from the United States, according to documents released Wednesday. Many Chinese companies often postpone their employees’ salaries or force quits without pay.
“Despite US restrictions over the past two years, we haven’t changed our human resources policies, and everything is working as usual, such as pay and bonus distribution, grade increases, and stock allocation. of the business, ”Ren said, according to an English-language transcript seen by CNBC. “There has been no chaos within the company. Instead, the company is now more united than ever and has even attracted more talent.”
The telecommunications company says it increased its workforce by 3,000 between the end of 2019 and 2020, amid the start of the coronavirus pandemic. Just over half, or 53.4%, of employees are in research and development, according to Huawei.
In 2019, the administration of former President Donald Trump put Huawei on a blacklist that blocked U.S. companies from selling technology to the Chinese company, citing national security concerns. Huawei has denied that it poses such a threat.
“Due to US restrictions over the past two years, we are no longer looking to use the best components to make the best products,” Ren said. “Instead, we use scientific and reasonable methods to ensure balanced traffic through the system and use the right components to make high quality products, which has dramatically improved our profitability.”
A drop in global smartphone sales has also affected Huawei’s business.
The company reported sales of 320.4 billion yuan ($ 49.67 billion) in the first six months of 2021, down from 454 billion yuan in the same period a year ago. year. The revenue for the first half of this year was still lower than the first half of 2019 and 2018, before the pandemic and the US sanctions.
The two largest business segments, consumers and carriers, saw sharp year-over-year declines in the first half of 2021. The much smaller business activity, on which Huawei has focused its strategy of growth, increased by 6.6 billion yuan.
Ren remained determined to pay for the scientists and spoke of compensation equivalent to an undisclosed amount for professors at China’s prestigious Tsinghua University.
“If the company had not paid attention to basic science and research, had not established close cooperation with the world’s leading scientists or had not appreciated those who engaged in basic research over the past decade, we would not have accumulated the enormous amount of theoretical, technological, and technical knowledge needed to overcome the difficulties created by US restrictions and blockages, ”he said.
Learn more about China from CNBC Pro
Ren’s comments come as China’s central government attempts to address a shortage of workers in high-tech industries such as manufacturing. Beijing has presented ambitious plans to develop its own technology in semiconductors and quantum computing over the next decade.
“China has seen economic bubbles, with young elites all rushing to do things that pay quick returns with relatively little investment,” Ren said.
“China still lags behind in products such as machine tools, process equipment and techniques, instruments and meters, and materials and catalyst research. What methods can we use to conduct production experiments under such circumstances? This is a difficulty that we are now facing.
CNBC’s Arjun Kharpal contributed to this report.
The mention sources can contact us to remove/changing this article
What Are The Main Benefits Of Comparing Car Insurance Quotes Online
LOS ANGELES, CA / ACCESSWIRE / June 24, 2020, / Compare-autoinsurance.Org has launched a new blog post that presents the main benefits of comparing multiple car insurance quotes. For more info and free online quotes, please visit https://compare-autoinsurance.Org/the-advantages-of-comparing-prices-with-car-insurance-quotes-online/ The modern society has numerous technological advantages. One important advantage is the speed at which information is sent and received. With the help of the internet, the shopping habits of many persons have drastically changed. The car insurance industry hasn't remained untouched by these changes. On the internet, drivers can compare insurance prices and find out which sellers have the best offers. View photos The advantages of comparing online car insurance quotes are the following: Online quotes can be obtained from anywhere and at any time. Unlike physical insurance agencies, websites don't have a specific schedule and they are available at any time. Drivers that have busy working schedules, can compare quotes from anywhere and at any time, even at midnight. Multiple choices. Almost all insurance providers, no matter if they are well-known brands or just local insurers, have an online presence. Online quotes will allow policyholders the chance to discover multiple insurance companies and check their prices. Drivers are no longer required to get quotes from just a few known insurance companies. Also, local and regional insurers can provide lower insurance rates for the same services. Accurate insurance estimates. Online quotes can only be accurate if the customers provide accurate and real info about their car models and driving history. Lying about past driving incidents can make the price estimates to be lower, but when dealing with an insurance company lying to them is useless. Usually, insurance companies will do research about a potential customer before granting him coverage. Online quotes can be sorted easily. Although drivers are recommended to not choose a policy just based on its price, drivers can easily sort quotes by insurance price. Using brokerage websites will allow drivers to get quotes from multiple insurers, thus making the comparison faster and easier. For additional info, money-saving tips, and free car insurance quotes, visit https://compare-autoinsurance.Org/ Compare-autoinsurance.Org is an online provider of life, home, health, and auto insurance quotes. This website is unique because it does not simply stick to one kind of insurance provider, but brings the clients the best deals from many different online insurance carriers. In this way, clients have access to offers from multiple carriers all in one place: this website. On this site, customers have access to quotes for insurance plans from various agencies, such as local or nationwide agencies, brand names insurance companies, etc. "Online quotes can easily help drivers obtain better car insurance deals. All they have to do is to complete an online form with accurate and real info, then compare prices", said Russell Rabichev, Marketing Director of Internet Marketing Company. CONTACT: Company Name: Internet Marketing CompanyPerson for contact Name: Gurgu CPhone Number: (818) 359-3898Email: [email protected]: https://compare-autoinsurance.Org/ SOURCE: Compare-autoinsurance.Org View source version on accesswire.Com:https://www.Accesswire.Com/595055/What-Are-The-Main-Benefits-Of-Comparing-Car-Insurance-Quotes-Online View photos
to request, modification Contact us at Here or [email protected]