The business information of Huawei Investment & Holding changed on December 19, and its registered capital increased from about 22.2 billion yuan to about 29.4 billion yuan, an increase of 32%, according Chinese corporate records.
Huawei Investment & Holding was established in March 2003 with its legal representative being Zhao Minglu. Huawei Technologies is wholly owned by the holding company.
It has two shareholders, corporate records say. Huawei founder Ren Zhengfei holds 0.94% of the company's shares as the second largest shareholder and the rest are owned by an entity called the Union of Huawei Investment & Holding.
This is Huawei’s labor union, and it owns most of the company purely out of legal convenience.
Its business scope of the holding company includes high-tech product research, development, sales, service, and foreign investment business.
On November 18, Ren Zhengfei predicted in an interview that Huawei should continue to grow in 2020, but the growth rate will not be too high.
Ren Zhengfei also revealed that Huawei was fully awakened after being sanctioned by the US government. The company successfully reduced its research and development system by 48% and closed 46% of unnecessary research.
He said that the company transferred the saved engineers to the product area of the main channel to improve the research and development capabilities of the main channel products.
