Text: Wei Xi
On April 12, according to relevant news, Huawei intends to issue the second phase of Huawei ultra-short-term financing bonds in 2022, with a term of 180 days, the issuance time is from April 13 to April 14, the payment and interest date is April 15, and it will be listed and circulated on April 18, with a one-time repayment of principal and interest when due. It is worth noting that in March this year, Huawei also issued an ultra-short-term financing bond, raising 3 billion yuan.
Since the beginning of this year, Huawei has also issued three medium-term notes, raising a total of 11 billion yuan. Among them, Huawei's first medium-term notes for 2022 issued from January 6 to 7 are planned to issue a total of 4 billion yuan, with 19 compliant subscription agencies and a compliant subscription amount of 10.34 billion yuan. There were 13 valid subscriptions, with an effective subscription amount of 4.94 billion yuan, and the actual total issuance amount was 4 billion yuan, with an issue interest rate of 2.96%.
In addition, it is worth noting that Huawei has just disclosed its 2021 results. According to the annual report, in 2021, Huawei achieved global sales revenue of 636.8 billion yuan and net profit of 113.7 billion yuan, an increase of 75.9% year-on-year. Guo Ping, rotating chairman of Huawei, pointed out: "The company's overall operating situation is in line with expectations, the performance of operator business is stable, the enterprise business is growing steadily, the terminal business is developing rapidly in new industries, and ecological construction has entered the fast lane. ”
Huawei can be said to be the pride of the people. Unlike other companies, Huawei has its own chips. Because Huawei felt the importance of chips at the beginning of its development, it began to devote itself to the independent research and development of chips. Although it cannot completely surpass Qualcomm, Huawei will go further after having its own chip. It's just that Huawei has fallen from the high-end mobile phone market, but it is cheaper than Apple, which has been defeated by Huawei before.
However, Ren Zhengfei once said: Huawei can survive without mobile phone business, but Huawei will not give up mobile phone business! Huawei is a communications technology company, and mobile phones are just one of its businesses. At present, many achievements have been made, and it is also one of the best in the field of science and technology, and if Huawei is successfully listed, the market value should be able to break the wrist with Moutai and TSMC.
However, Huawei is not only not listed, but also has no plans to go public. At present, the biggest goal of many companies is to get the company to go public and raise funds, and then go to the world stage. So, Huawei has such a big ability, why not consider listing? In fact, this is also related to Huawei's own philosophy and founder. The experience of Huawei's founder Ren Zhengfei can be described as a desperate situation.
Ren Zhengfei was born on October 25, 1944, in a poor village in Zhenning County, Guizhou Province. His family has 6 siblings. His father was a rural secondary school teacher. In his family education, he pays great attention to and pursues knowledge. As a result, Ren Zhengfei studied at Chongqing Institute of Civil Engineering and Architecture in 1963, and after graduation, Ren Zhengfei was assigned to an engineering construction unit.
At the age of 30, he answered the call to enlist in the army and became a basic engineer. He followed the army and was transferred to participate in the construction of the Liaoyang petroleum and chemical fiber factory. Because of his outstanding contribution, he was promoted from technician to engineer, and later to deputy director. In 1983, the infrastructure engineering corps was abolished, and Ren Zhengfei was also transferred to the Shenzhen South China Sea Petroleum Logistics Service Base.
This would have been a good job, and Ren Zhengfei was determined to do it well. But unexpectedly, in 1987, he was defrauded of 2 million yuan in a foreign trade business, and his wife also drew a line with Ren Zhengfei in order not to be implicated, and the two eventually divorced. Suddenly, 43-year-old Ren Zhengfei was destitute, lost his job, lost his wife, and was saddled with a debt of 2 million yuan, which was a trough in his life.
Fortunately, there is no invincible road. As a result of years of work, he has made many sincere friends, and it is these old comrades who have helped him get through the difficulties. Ren Zhengfei thought left and right, if he only relied on work, the foreign debt of 2 million yuan would not be exhausted in his lifetime. So he and 5 comrades-in-arms together for 21,000 yuan to create Huawei, but at that time HUAWEI did not have the money to develop high-tech, so Ren Zhengfei went to borrow from a company with an interest rate of 20 to 30%, and finally manufactured the first equipment.
Finally, Huawei has accumulated more and more technology and made more and more money, which has become a benchmark in China's technology industry. After gaining a firm foothold in China, Ren Zhengfei took Huawei and began to fight abroad. Entered the Russian market, entered Africa and Latin America, joined hands with British Telecom to explore the Dutch and German markets, and finally entered the United States, and since then, it has still moved forward on the road of science and technology.
Some insiders speculate that the reasons for Huawei's unlisted are mainly concentrated in Huawei's equity structure, corporate funds, and strategic development. However, it is precisely because Huawei is 100% owned by employees. If Huawei is not listed, it does not need to be explained to the capital market. It is also possible to invest the money earned every year in research and development to ensure its core competitiveness. Because the real core technology is not available, can not be bought, can not be bought.
In terms of research and development, Huawei's investment is the largest. From communications to enterprise networks, from cloud computing to mobile phones, Huawei has been keeping up with the pace of the market and building core competitiveness. Smartphones, 5G technology, terminal routers, switches and various electronic devices are the best of its business, and more than 10% of its revenue is used for scientific research every year. In 2020, for example, Huawei's profit is only more than 60 billion yuan, while research and development expenditure is more than 140 billion yuan.
Successful listing can quickly obtain a return on capital, but the biggest side effect of listing is that the company's operation must be in the interests of major shareholders, then long-term goals have to be suppressed, and short-term goals often lose better development opportunities. It is precisely because Huawei is not listed that it can concentrate on technology research and development and make breakthroughs in 5G technology. In Ren Zhengfei's view, Huawei should concentrate on doing a good job in scientific research and speak with strength.
In general, there are pros and cons to listed companies. In simple terms, the controller of the unlisted company alone bears the risks and benefits of the company, and the risks of the company will be shared after the listing, and the benefits and rights will also be shared. Whether the company is listed or not needs to consider the choice in combination with its own situation, whether it is listed or not, the most important thing for the company is to do a good job in the real industry, get good products and services, and play iron also needs to be hard. For a hard-working enterprise like Huawei, not going public is the best development path.