“That’s a kind of seal of approval,” she said. Huawei’s union is registered with the Shenzhen city government’s union and pays dues. Our founder, Ren Zhengfei, owns a 1.14% stake in the company. Huawei is a private company wholly owned by its employees. And it has invited reporters from around the world to interview company leaders, including Ren Zhengfei, its powerful founder and chief executive. The rest are owned by an entity called the Union of Huawei Investment & Holding. Huawei, the Chinese tech giant, has fought to dispel accusations that it acts on behalf of the Chinese government. What, then, does Huawei actually mean when it says that it is employee owned? The Company Tried to Explain. SOURCE global provider of ICT infrastructure and smart devices. Huawei and its chief financial officer, Meng Wanzhou, are facing criminal charges in the United States related to theft of trade secrets and violations of sanctions on Iran. Still, he acknowledged on Thursday that it was unclear whether Huawei’s efforts to explain all this would assuage any concerns in Washington. But these assurances have never quite dispelled American officials’ suspicions that Beijing and the Communist Party are somehow pulling the strings. By exposing themselves to the vetting needed to list their shares on American stock exchanges, Ms. Lu said, other Chinese technology firms have put the wider world at greater ease about the way they are run. Over the years, it has offered an incentive to our loyal employees and helped us attract talented people. Wang Zhao/Agence France-Presse — Getty Images. That holding … That basketball club, for instance. The firm says that it is entirely owned by its employees, and that no outside organizations, including any affiliated with the Chinese government, own shares. But the municipal union has no influence over the Huawei union’s operations or the company, Mr. Jiang said. Mr. Jiang described the company’s program for allowing workers to own a kind of virtual Huawei stock. It Got Complicated. The US House intelligence committee said “many analysts believe that Huawei is not actually controlled by its common shareholders, but actually controlled by an elite subset of its management”. This is Huawei’s labor union, Mr. Jiang said on Thursday, and it owns most of the company purely out of legal convenience. Founded in 1987 in Shenzhen, China, Huawei is a leading Huawei is an independent, privately-held company. But absent the kind of constant, independent scrutiny that a publicly listed company would face, outsiders can only decide whether to take Huawei’s word for it. Mr. Ren, Huawei’s chief executive, owns a little more than 1 percent of shares. The union also supervises the company basketball club, Mr. Jiang said. To uphold these common values and ensure robust corporate governance, Huawei’s founder Mr Ren has the right to veto certain matters defined by the Charter of Corporate Governance. No government … It does, however, supervise after-work activities for employees. Mr. Jiang rejected this argument, saying that holders of Huawei virtual shares bear the risk that their shares will decline in value, and that they are entitled to a portion of the company’s assets if it goes bankrupt. Technically, all of this is separate from the union, which is the company’s registered legal owner. Naturally, it is a little more complicated than that. According to the company founder Ren Zhengfei, the name Huawei comes from a slogan he saw on a wall, Zhonghua youwei meaning "China has promise" (中华有为, Zhōnghuá yǒuwéi), when he was starting up the company and needed a name. Within its 10 volumes are said to be the names of all the Huawei employees who hold “restricted phantom shares” in the company — proof, the company says, that no piece of Huawei is owned by the Chinese government. Huawei has also been translated as "splendid achievement" or "China is able" which are possible readings to the name.
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