Q1 revenues at Huawei were up about 1% to $25.72 billion, compared with 39% growth in Q1 2019.

The company did not announce its net profit but said that its net margin was 7.3% compared to 8% in Q1 2019.

“The growth rate has slowed, but this is also a resilient performance in the face of both the entity list and the coronavirus we are facing at this moment,” said vp Victor Zhang (pictured) in London this morning.

Asked about ‘mask diplomacy’ – the motivation behind the company’s shipments of masks to Europe –  Zhang replied: “Definitely we will support some countries where there is a lack of PPE (Personal Protective Equipment), it is not because of Huawei’s business, it’s because of corporate social responsibility.”