Chinese giant telecom equipment maker Huawei released its 2021 annual report on Monday revealing that sales fell but profit rose. Chief financial officer Meng Wanzhou, appeared at a press conference in Shenzhen to announce the company’s annual results for the first time since being held in Canada in 2018. According to the report, the company registered a revenue of $99.9 billion in 2021 which is 28.6% less compared to the previous year. Profits on the other hand rose by 75.9% to $17.8 billion. "Despite a revenue decline in 2021, our ability to make a profit and generate cash flows is increasing, and we are more capable of dealing with uncertainty,” said Meng.
Meng Wanzhou was released by Canadian authorities last year, terminating a grapple with Washington over the company’s dealings with Iran. Her release prompted her to accept responsibility for misrepresenting Huawei’s dealings with Iran. Meng added that Huawei’s “overall financial resilience is strengthening” and “The company is more capable of dealing with uncertainty.”
