China's Huawei reports sales fall amid US sanctions but profits hit record | Huawei

Chinese telecoms company Huawei has reported a decrease in sales but record profit for 2021, as its top executive, Meng Wanzhou, made her first public appearance since being released from Canadian custody last autumn. The Shenzhen-based company said on Monday its net profits surged 75.9% year on year to 113.7bn yuan (£13.6bn), despite US sanctions. But its revenue skidded 29% to 636.8bn yuan, in line with Huawei's previous forecast in December. Over the past decade, Huawei rose to become the symbol of China's growing technological prowess. When the US-China trade and technology rivalry intensified in 2018, the company was caught…