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Huawei Plans to List on Australian Stock Exchange in Long Term

With acceptance prospects continually problematic for Huawei internationally, an Australian Huawei board member John Brumby said recently that it would make sense for Huawei to build a research and technology center and list on the Australian stock exchange. Sources are now saying that Huawei would consider this sometime within the next 5-10 years.  Why wait so long?

Shenzhen-based Huawei has continually run into administrative and PR issues related to alleged ties to the Chinese government and the PLA. Over the years, this issue has been a thorn in its side as the company has tried to expand abroad. Now employs more than 140,000 staff internationally and already owning 20 R&D centers abroad, the company has striven to make itself known. Despite this, Huawei remains wrapped in mystery, and the private nature of its finances and its CEO Ren Zhengfei, a former PLA officer, continue to tarnish its reputation.

Huawei’s most recent spat with security concerns abroad concerned a Congressional investigation into the company that concluded recently little progress made on issues of trust. The committee members were not convinced that Huawei had provided enough evidence of its good faith and independence from prying Chinese regulators.

A listing in Australia, however, would be a step in the right direction for transparency and trust. To delay it for 5 or more years would only further raise suspicions about financing sources. CEO Ren Zhengfei has come out this year to say that Huawei must become more “open,” and the company has made strides in the UK recently; however, with so many unanswered questions and biases, it will be a while before the company is accepted. That is, unless they open up much faster.

Source: Reuters

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