{"id":1620255,"date":"2022-08-23T11:53:31","date_gmt":"2022-08-23T15:53:31","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1620255"},"modified":"2022-08-23T11:53:41","modified_gmt":"2022-08-23T15:53:41","slug":"founder-of-chinas-huawei-urges-focus-on-cash-flow-survival-in-downturn-media","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/founder-of-chinas-huawei-urges-focus-on-cash-flow-survival-in-downturn-media\/","title":{"rendered":"Founder of China\u2019s Huawei urges focus on cash flow, survival in downturn \u2013 media"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Ffounder-of-chinas-huawei-urges-focus-on-cash-flow-survival-in-downturn-media%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1620255&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>SHENZHEN, China (Reuters) -The founder of China\u2019s Huawei Technologies has told employees the company must shift its focus from pursuing scale to ensuring profits and cash flow as the global economy enters a long period of recession, media reported on Tuesday.<\/p>\n<p>\u201cWith survival the main principle, marginal businesses will be shrunken and closed, and the chill will be felt by everyone,\u201d founder Ren Zhengfei wrote in an email to staff on Monday, the financial news outlet Yicai reported.<\/p>\n<p>Huawei said the email was for employees and declined to comment further. <\/p>\n<p>Yicai did not elaborate on whether Ren explained which businesses were \u201cmarginal\u201d but said he said \u201csurplus personnel\u201d would be moved to reserve teams. <\/p>\n<p>Ren also drew attention to the importance of the company\u2019s traditional focus on information and communications technology (ICT).<\/p>\n<p>\u201cWe must be clear that building ICT infrastructure is Huawei\u2019s historical mission, and the more difficult the times are, the more we cannot waver,\u201d he said.<\/p>\n<p>Huawei would \u201cgive up completely\u201d in some unspecified countries, while next year it would reduce \u201cblind\u201d investment and expansion and maintain an appropriate business rhythm, the report said. <\/p>\n<p>The global economy would continue to decline over the next decade, while war, the \u201ccontinued blockade\u201d from the United States and the COVID-19 pandemic would leave \u201cno bright spot in the world\u201d in the next three to five years, Yicai cited Ren saying.<\/p>\n<p>The United States put Huawei on an export blacklist in 2019 that barred it from accessing critical technology of U.S. origin, hurting its ability to design chips and source components from outside vendors. The United States says Huawei is a security risk, which the company has denied.<\/p>\n<p>Huawei\u2019s first-half results showed a 52% drop in profits to 15.08 billion yuan, according to Reuters calculations, with a weak economy, COVID disruption and supply chain challenges hurting the company\u2019s device business that sells smartphones and laptops.<\/p>\n<p>Ren mentioned the company\u2019s cloud computing, digital energy and smart car businesses as areas where the company should see development, according to the report.<\/p>\n<p>Ren said the outlook for the company was uncertain beyond the next couple of years.<\/p>\n<p> (Reporting by David Kirton; Editing by Robert Birsel)<\/p>\n<p><a href=\"https:\/\/www.oann.com\/?attachment_id=2740554\"><img decoding=\"async\" src=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-content\/uploads\/2022\/08\/tagreuters.com2022binary_LYNXMPEI7M07E-VIEWIMAGE.jpg\" alt=\"tagreuters.com2022binary_LYNXMPEI7M07E-VIEWIMAGE\" \/><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>SHENZHEN, China (Reuters) -The founder of China\u2019s Huawei Technologies has told employees the company must shift its focus from pursuing scale to ensuring profits and cash flow as the global<\/p>\n","protected":false},"author":66,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1620255","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1620255","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/66"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1620255"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1620255\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1620255"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1620255"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1620255"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}