Huawei is sanctioned by the US with a fall in profit, believing lacking a key factor.

Source: ChannelC #Mar29

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Huawei is sanctioned by the US with a fall in profit, believing lacking a key factor.

#Mengwenzhou, the deputy chairwoman and CFO of #Huawei, once again showed up at the group performance meeting after returning to #China.

Under the #US sanction on Huawei and the shortage of chips, Huawei's income in the previous year was reduced by almost 30%, to around 637 billion dollars (in RMB, same below). It is the first fall in the revenue since the record was publicised.

Last year's net profit raised by 75.9%, to 113.7 billion dollars, in which, the sale of a smartphone department to a government-led consortium took account of around 57.4 billion dollars. With a subsidy of 2.57 billion dollars from the government, a total of 60.8 billion dollars of other income was recorded, increasing 87 times from the previous year, being the reason for net profit.

With the deduction of the other income, the net profit was slightly higher than 52.9 billion dollars, reduced by almost 20% year-to-year.

According to the data from a market research organisation, Omdia, Huawei shipped 35 million smartphones only, which plunged by 81.6% from the previous year. The market share fell from 14.7% in 2020 to 2.6% in 2021.

Huawei's consumer business resulted in a hit, and the revenue was reduced by 49.6% from last year to 243.4 billion dollars.

Source: ChannelC #Mar29

https://bit.ly/3wJkfca

Solomon Islands and China to sign security agreement, Australia, New Zealand worry about stability in region

Source: SBS Australia #Mar29

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Solomon Islands and China to sign security agreement, Australia, New Zealand worry about stability in region

At a glance:

- Solomon Islands Prime Minister, Manasseh Sogavare, has said publicly that a security cooperation agreement with China has been finalised and is ready to be signed, and has texted Australian Prime Minister Scott Morrison about the development. Sogavare also said that Morrison’s criticism of the country's agreement with China is 'very insulting'.

- Australia's High Commissioner to the Solomon Islands, Lachie Strahan, said on a social media site that Australia was concerned about a security cooperation agreement to be signed between the Solomon Islands and China

- The agreement is seen as potentially leading to the establishment of a Chinese military base in the Solomon Islands.

- The Ministry of Foreign Affairs spokesman in Beijing, Wang Wenbin, asked rhetorically, “Who is building the militarised cabal that will bring the risk of nuclear proliferation to the Pacific?”

-Solomon Islands PM Manasseh Sogavare said the country's security cooperation agreement with China has been finalised and is ready to be signed.
Australia, New Zealand, and the United States have expressed concern about a possible security cooperation agreement between the Solomon Islands and China, which could lead to the establishment of a Chinese military base in the Pacific Islands Region.

Source: SBS Australia #Mar29

https://www.sbs.com.au/chinese/cantonese/zh-hant/as-concerns-grow-over-solomon-islands-china-pact-here-s-how-it-could-impact-the-pacific-region

#AsiaPacific #PacificIslandsRegion #Oceania #China #SolomonIslands #Australia #ChineseForeignMinistry #WangWenbin #ManassehSogavare #ScottMorrison #Chinesemilitarybase #securitycooperationagreement