Selena Li

HONG KONG, (Reuters) – Huawei Technologies Co Ltd is a Chinese telecoms equipment company that has been granted a license in China. This allows the company to access capital from abroad as it seeks to increase its supply of silicon chip supplies in face of U.S. sanctions.

US authorities claim that Huawei’s equipment might be used to spy on Beijing. They have imposed sanctions against the company, cutting off supplies of overseas chips and banning it from making its own. These allegations have been denied by Huawei repeatedly.

The company did not respond immediately to Reuters’ request for comment Wednesday.

According to an official record Habo Investments was established by Huawei in April 2019 and registered as a private manager with the Asset Management Association of China on January 14. This allows it to attract investors outside of the company.

The new-registered platform for fund management has not yet launched any products.

Public records show that Habo, with three billion Yuan ($472.29 millions) of registered capital, has made at least twenty deals to acquire stakes in Chinese technology companies.

Kaihong is Shenzhen’s latest target for investment. It specialises in providing operating systems and services to the Internet of Things. Habo recently invested 100million yuan to Kaihong in order to get a 20% interest.

Habo was founded in response to “suppression by the United States” described Guo Ping (Haiwan’s rotating chairman), in 2020.

Habo Investment has made the majority of its deals in Chinese chip start-ups. A few have even been part of Huawei’s supply chain.

Guo Ping (Hawk’s rotating chair) told workers in December that Huawei expects its 2021 revenue to drop nearly 30%, to 634 billion Yuan ($99.48 million).

($1 = 6.3520 renminbi)