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MarketScreener Homepage  >  Equities  >  Tokyo Stock Exchange  >  Kirin Holdings Company, Limited    2503   JP3258000003

KIRIN HOLDINGS COMPANY, LIMITED

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Kirin : Huawei 2020 revenue ticks up despite U.S. sanctions, chairman says

02/24/2021 | 12:16am EST
Mobile World Congress (MWC) in Shanghai

SHANGHAI (Reuters) - Huawei Technologies saw slight revenue and profit growth in 2020, in line with its expectations, its rotating chairman said on Tuesday, even as Washington toughened sanctions against the Chinese telecom equipment maker.

The company was put on an export blacklist by former U.S. President Donald Trump in 2019 and barred from accessing critical technology of U.S. origin, affecting its ability to design its own chips and source components from outside vendors.

Huawei has repeatedly denied it poses a security risk.

"Huawei was confronted with some extraordinary difficulties last year," rotating Chairman Ken Hu said at industry event Mobile World Congress Shanghai in the Chinese business hub.

"Operations were relatively stable and in line with our guidance, registering slight growth in revenue and profit."

This month, founder and Chief Executive Ren Zhengfei said he hoped the Biden administration would "harbour an open policy" towards U.S. firms doing business with Huawei in his first comments to the media in about a year.

China has spent more than 260 billion yuan ($40.27 billion) building its 5G network, an official of the Ministry of Information and Information Technology said on Tuesday.

On Monday, Huawei unveiled its new 5G Mate X2 foldable phone, which makes use of its proprietary Kirin processor.

However, with the cheapest model starting at 17,999 yuan ($2,788), the phone is not positioned to challenge players in the mainstream market.

Huawei set up 50,000 base stations in Indonesia, Hu said, adding that it planned to build 2,000 base stations in remote regions of Ghana.

The company is expected to post full-year results in March, a spokesman said.

(This story corrects paragraph 10 to drop reference to 5G)

(Reporting by Josh Horwitz; Writing by David Kirton; Editing by Kim Coghill and Sherry Jacob-Phillips)

By Josh Horwitz


© Reuters 2021
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Financials
Sales 2020 1 832 B 17 146 M 17 146 M
Net income 2020 82 202 M 769 M 769 M
Net Debt 2020 449 B 4 198 M 4 198 M
P/E ratio 2020 21,7x
Yield 2020 3,11%
Capitalization 1 739 B 16 312 M 16 277 M
EV / Sales 2020 1,19x
EV / Sales 2021 1,19x
Nbr of Employees 31 040
Free-Float 89,1%
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Mean consensus OUTPERFORM
Number of Analysts 15
Average target price 2 700,00 JPY
Last Close Price 2 086,50 JPY
Spread / Highest target 53,4%
Spread / Average Target 29,4%
Spread / Lowest Target 5,44%
EPS Revisions
Managers and Directors
NameTitle
Yoshinori Isozaki President & Representative Director
Shoshi Arakawa Independent Outside Director
Masakatsu Mori Independent Outside Director
Hiroyuki Yanagi Independent Outside Director
Chieko Matsuda Independent Outside Director
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