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Warning from "CEO" Huawei, signaling danger to China's economy

a few days ago The memorandum orcrow789internal merge letter for Chinese technology and telecom giant Huawei was written by the company's founder and CEO, Ren Zhengfei. leaked outside

It has become a viral sharing and discussion in the social media world in China.

in the aforementioned record Ren frankly warned Huawei employees that "The cold will spread until everyone can feel it," and warned that in order for Huawei to survive in the next three years, the company needs to focus on "profits" and "cash flows" rather than expansion or expansion. grow which is no longer a top priority.

It's a warning sign that There will still be a reduction in staff. and further reduce investment

“The next decade will be a time of painful history. When the world economy will continue to deteriorate" from the Covid crisis, the impact of the war in Ukraine. and the United States' continued "blockade" of some Chinese businesses.

Huawei CEO tell the staff that The most important thing for the company at this time is “Survival” requires lowering expectations in a way that is too good to be true. not just at this time But still have to fight to survive in 2023 or maybe even 2025.

“In the past, we have embraced the ideal of globalization and our ambition to serve humanity. What is our ideology now? is to survive and earn a little money where it can.” Must adapt to the structure of the market. and study and learn what can be done What should be discarded?

That means there may be a downsizing of the business. especially in the part that does not generate income

Which caused the opinions to be buzzing in the social world that followed. If a giant like Huawei has to struggle to survive like this So how will most of the small and medium-sized private enterprises in China fall into this situation?

Bao Linghao, an analyst at Trivium China, noted that “Ren's Notes” received great attention. It wasn't just because of the alarming of the difficulties it was facing. but also because of his way of communicating. It's so straightforward that it's like you're in a “panic” situation with what the company is facing.

"Huawei", which is considered to be the largest company in China. It is now in a downturn in both revenue and profit. Revenue for the first quarter of this year fell 14%, and net profit dropped to 4.3% from 11.1% a year ago.

at the same time The Chinese economy is being challenged by all-around pressures. Negative factors pop up like mushrooms. Both from the strictness of dealing with the Covid-19 outbreak, the crisis in the real estate sector. and the severe consequences of severe and rapid deterioration in international relations.

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