Huawei said today that profit from asset sales made last year reached 76%. This is a milestone for the company, now under the management of Chief Financial Officer, Meng Wanzhou, since she returned to China last year after nearly three years of detention in Canada.

In its biggest annual gain ever, net income rose to $17.8 billion, the company said.

Last year's sudden increase to just 3.2% growth in 2020 marked the impact of asset sales in the wake of US sanctions and weaker domestic consumer demand amid the coronavirus pandemic.

Despite this, revenues skidded 291TP2Q to $99.98 billion, in line with Huawei's previous forecast in December.

"Despite a decline in revenue in 2021, our ability to earn profits and generate cash flows is increasing, and we are getting better at dealing with uncertainty," said Meng, speaking from the company's headquarters in Shenzhen.