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    HSBA   GB0005405286

HSBC HOLDINGS PLC

(HSBA)
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U.S. Republican senators slam release of Huawei's Meng

09/25/2021 | 03:00pm EDT
U.S. Secretary of State Blinken testifies before Senate Foreign Relations Committee in Washington

WASHINGTON (Reuters) - U.S. Senator Marco Rubio said on Saturday the release of Huawei's finance chief raised serious questions about President Joe Biden's ability to confront the threat posed by the technology giant and the Chinese Communist Party.

Rubio, in a text message to Reuters, called on the Biden Administration to brief Congress urgently on the issue.

Huawei Chief Financial Officer Meng Wanzhou returned to China on Saturday after reaching an agreement with U.S. prosecutors on Friday to end the bank fraud case against her.

"The release of Ms. Meng raises serious questions about President Biden's ability and willingness to confront the threat posed by Huawei and the Chinese Communist Party," said Rubio. "We have already seen how the administration's single-minded focus on climate is causing them to downplay genocide. This is just another example of the Biden Administration's dangerously soft approach towards Beijing."

A spokesperson for the White House was not immediately available.

Meng was arrested https://www.reuters.com/article/us-usa-china-huawei/top-huawei-executive-arrested-on-u-s-request-clouding-china-trade-truce-idUSKBN1O42S1 at Vancouver International Airport on a U.S. warrant, and indicted on bank and wire fraud charges for allegedly misleading HSBC in 2013 about the telecommunications equipment giant's business dealings in Iran. She spent more than 1,000 days under house arrest in Canada.

The deal was also criticized by Republican Senator Bill Hagerty, who told Reuters it was more capitulation to China.

"I'm very concerned that this appears, that it could be more appeasement from the Biden Administration, more capitulation," said Hagerty, a former ambassador to Japan. "Huawei is an aggressive predatory company. It's backed by the Chinese Communist Party. We have given up leverage today."

(Reporting by Michael Martina and Alex Alper; Writing by Lucia Mutikani; Editing by Dan Grebler)


ę Reuters 2021
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Financials (USD)
Sales 2021 49 926 M - -
Net income 2021 11 879 M - -
Net Debt 2021 - - -
P/E ratio 2021 10,4x
Yield 2021 4,13%
Capitalization 124 B 124 B -
Capi. / Sales 2021 2,47x
Capi. / Sales 2022 2,37x
Nbr of Employees 222 550
Free-Float 98,2%
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Mean consensus OUTPERFORM
Number of Analysts 24
Last Close Price 6,11 $
Average target price 6,74 $
Spread / Average Target 10,4%
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Managers and Directors
Noel Paul Quinn Group Chief Executive Officer & Executive Director
Ewen James Stevenson Chief Financial Officer & Executive Director
Mark Edward Tucker Non-Executive Group Chairman
Steven C. van Wyk Chief Information Officer
John M. Hinshaw Group Chief Operating Officer
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