Join now for FREE unlimited access to Reuters.com
SHANGHAI, April 5 (Reuters) – Huawei Technologies (HWT.UL) has paid dividends totaling 61.404 billion yuan ($9.65 billion) to current and retired workers under its employee stock ownership program, according to a file filed with the Shanghai Clearing House.
According to the company’s 2021 annual report released last week, some 131,507 current and former workers are involved in the stock plan. read more The company is privately held and 100% employee-owned, he said.
The file, published on Saturday, does not detail the distribution of dividends.
Join now for FREE unlimited access to Reuters.com
It comes as US sanctions continue to weigh heavily on Huawei’s business, with full-year revenue falling 29% last year to 636.8 billion yuan.
Net profit jumped a record 76% to 113.7 billion yuan, but that was mainly due to the sale of its Honor smartphone unit and server business under pressure from the United States.
The United States imposed a series of trade restrictions on Huawei throughout 2019 and 2020, citing national security concerns, which Huawei denies.
The restrictions have hampered Huawei’s ability to design its own chips and source components from outside suppliers, crippling its smartphone business.
Guo Ping, Huawei’s current rotating chairman, said last week that the company still hoped to find a solution to support its smartphone division and would increase research investment in search of microchip “breakthroughs” after losing. access to certain advanced technologies due to US sanctions.
($1 = 6.3625 Chinese Yuan)
Join now for FREE unlimited access to Reuters.com
Reporting by David Kirton; Editing by Jacqueline Wong
Our standards: The Thomson Reuters Trust Principles.