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Huawei reported a 22% revenue increase in 2024, reaching 860 billion yuan, driven by a resurgence in smartphone sales and growth in its smart vehicle solutions. The company regained its position as the top smartphone brand in China, capturing 18.1% of the market, and surpassed Samsung in the foldable smartphone segment. Despite challenges from U.S. sanctions, Huawei's HarmonyOS is pivotal for its overseas smartphone ambitions, as it seeks to recover its global presence.
Huawei has boosted smartwatch sales by registering its Watch D2 as a medical device, allowing consumers to use medical insurance funds for purchases. This has led to high demand in pharmacies, with some requiring pre-orders and limiting purchases. However, concerns have arisen over the classification of such devices, prompting regulatory scrutiny in certain cities.
The Hang Seng Index has surged to its highest level since October, driven by renewed interest in technology stocks following the rise of Chinese startup DeepSeek. The index has gained 6% and the Hang Seng Tech Index 12% since early February, with Alibaba's stock jumping 30% after unveiling its AI model, Qwen 2.5 Max. Despite this rebound, Chinese indices remain below 2021 highs, and market sentiment is fragile, though government initiatives to support the stock market could attract more international investment.
Huawei has reported a 22% year-on-year increase in annual revenue, reaching approximately 860 billion yuan ($118 billion), despite stringent US sanctions aimed at curbing its growth. The company's success is attributed to booming smartphone sales and advancements in AI and 5G technology, alongside a growing automotive solutions business. This trend highlights significant gaps in US export controls and suggests that Chinese tech firms are thriving independently of external pressures.
Huawei anticipates reaching ¥860 billion ($118.25 billion) in revenue for 2024, marking a 22% increase from 2023, despite ongoing sanctions. Meanwhile, Japan proposes a bill for proactive cyber-defense measures, and Thailand has cut power to cyber-scam slave camps. In corporate news, Infosys faces backlash over the termination of 700 staff, and Nissan reportedly backs out of a merger with Honda.
Deutsche Bank predicts that by 2025, the global investment community will recognize China's competitive edge, as its companies increasingly deliver superior value and quality across various sectors. This shift is expected to eliminate the current valuation discount on Chinese stocks, reflecting their dominance in the market.
Emerging markets are showing resilience amid geopolitical tensions and trade conflicts, with Raiffeisen Capital Management highlighting a positive outlook for Taiwan and cautious optimism for India. Taiwan's strong performance, particularly from key companies, contrasts with Brazil's struggles, while the potential for U.S. tariffs looms over several exporting nations. Risks remain, including the possibility of U.S. recession and inflation impacting emerging equities and bonds.
Huawei has surpassed Ericsson and Nokia in the consumer business sector in 2024, achieving sales revenue of 860 billion yuan ($118 billion), a 22% increase from 2023. While Huawei experienced significant growth, Ericsson's sales fell by 6% to $22.8 billion, and Nokia's declined by 9% to $19.9 billion. Huawei's operating margin also outperformed both rivals, standing at 14.8%, compared to Ericsson's 1.7% and Nokia's 13.6%.
UBS forecasts China's GDP growth to slow to 4% in 2025 and 3% in 2026, primarily due to anticipated US tariff hikes on Chinese exports. The bank expects a significant decline in exports and corporate capital expenditure, alongside intensified policy support to boost domestic demand and stabilize the economy. Inflation is projected to weaken, with CPI at 0.1% in 2025 and -0.2% in 2026, as China navigates external shocks and implements structural reforms.
CATL has resumed production at its Jiangxi mine, a key source of lithium in China, following a temporary closure that had previously boosted lithium stock prices. UBS analysts noted that the decision was driven by low inventories and cost-cutting measures, as the company blends production from the site with higher-grade ores. On the Guangzhou Futures Exchange, lithium carbonate futures saw a slight increase, while CATL's share price rose by 3.2% on the Shenzhen Stock Exchange.
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