TLDR:
– Huawei injects fresh capital into Shenzhen investment subsidiary, raising registered capital to US$1.1 billion.
– Company’s sales rose by 9% in 2023, driven by demand for 5G smartphones and AI chips.
Huawei Technologies’ venture capital arm, Habo Investment, has injected fresh capital into a subsidiary, as the US-sanctioned telecommunications equipment giant resumes growth on the back of rising demand for its 5G smartphones and artificial intelligence (AI) chips. With that infusion, Shenzhen Habo Technology Investment Partners – established in 2021 by Huawei and Habo Investment – last Thursday raised its registered capital to 7.98 billion yuan (US$1.1 billion) from 7 billion yuan previously. Huawei’s sales rose by 9% in 2023, driven by high demand for its new 5G smartphones and various efforts to diversify its revenue streams.
Habo Investment made only nine deals last year, focusing on sectors such as semiconductors, enterprise services, and new materials. Habo’s deal-making efforts have widened to include enterprise services and medical technology. Huawei has been riding high on its comeback in the high-end 5G handset market with the launch of the Mate 60 Pro, powered by the Kirin 9000s processor. The company’s AI chip, the Ascend 910B, has emerged as a replacement for Nvidia’s A100 GPU.
