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Microsoft has closed its IoT & AI Insider Lab in Shanghai, marking a significant reduction in its operations in China amid rising geopolitical tensions. The lab, operational since May 2019, supported 258 projects and trained nearly 10,000 professionals but has been inactive since early 2024. Despite its long presence, Microsoft's revenue from China represents only 1.5% of its global earnings.
In the final episode of Investment Clinic, Margo discusses her investment strategy as she approaches retirement, focusing on diversifying her portfolio and managing income from her retirement savings. Claer Barrett emphasizes the importance of early planning and encourages listeners to educate themselves about investing. The series has featured investors at various stages, highlighting the need for tailored financial advice.
Huawei's net profit fell 28% to CNY62.6 billion in 2023, aligning with forecasts due to a high comparison base from the previous year, while revenue rose 22% to CNY862.1 billion. The intelligent auto solutions unit saw a remarkable 474% revenue increase, and the company continues to invest heavily in R&D, spending CNY179.7 billion last year. As AI demand surges, Huawei aims to strengthen its foundational ecosystems, with HarmonyOS achieving significant milestones in developer engagement and market share.
Huawei reported total sales revenue of over US$118 billion for 2024, as stated by Chairman Liang Hua at the Guangdong High-Quality Development Conference. Despite a decline in profit, the company significantly increased its R&D spending, surpassing US$25 billion.
Huawei Technologies Co. reported its first quarterly net loss in years, posting a loss of approximately 300 million yuan for the December quarter, despite a 9.5% rise in revenue to about 276 billion yuan. The company invested heavily in R&D, spending 179.7 billion yuan, driven by US sanctions and a focus on future-oriented projects, including advancements in chipmaking and AI. Overall, Huawei's net profit for the year fell 28% to 62.6 billion yuan, with significant contributions from its ICT infrastructure and consumer products.
The Chinese government plans to inject RMB 500 billion into four major state-owned banks to bolster lending and support the economy. This capital infusion, which comes with a premium on share prices, aims to strengthen the banking sector while private demand remains weak. Despite improving economic data, the CNY is expected to stay under pressure due to a low interest rate environment.
Global stocks plummeted as investors braced for President Trump's upcoming tariffs, with the ASX losing $42 billion and Japan's Nikkei index dropping 4.05%. Goldman Sachs raised US recession odds to 35%, predicting more Federal Reserve rate cuts as tariffs threaten economic stability. Safe-haven assets like US treasuries and gold surged amid the turmoil.
BYD has denied reports of plans to invest 10 billion yuan (approximately US$1.4 billion) in a manufacturing plant in Hyderabad, India, calling the information “untrue.” While the company is interested in expanding internationally, it has not confirmed any significant investment plans for India, where it operates through its subsidiary, BYD India, focusing on electric buses and passenger vehicles.
Huawei reported a 28% drop in profits last year, totaling 62.6 billion yuan ($8.6 billion), amid international economic uncertainty and ongoing US sanctions that have limited access to critical technology. Despite this, revenue rose 22% to 862.1 billion yuan, driven by its ICT infrastructure and consumer products. The company continues to innovate, launching its first smartphone with a homegrown operating system and the world's first triple-folding phone, while facing scrutiny over alleged bribery in the EU.
Huawei Technologies reported a 28% drop in net profit to 62.6 billion yuan ($8.6 billion) in 2024, despite a 22% revenue increase to $118.2 billion, driven by strong sales in consumer goods and automotive services. The profit decline was attributed to increased investments in advanced technologies and a lack of business sales gains. The company spent over 179.7 billion yuan (nearly $25 billion) on R&D, employing more than half of its workforce in this area, while facing challenges from U.S. trade restrictions and security concerns.
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