Ren Zhengfei, the founder and CEO of Chinese tech giant Huawei, said in an internal speech last month that if parts of the business slowly move to the capital market, the manipulation of finances would be a legal problem. His words have led to speculation that Huawei may go public, as U.S. sanctions against Huawei have made its cash flow a big issue. In April last year, in an online interview with the South China Morning Post, Ren said that Huawei would “probably go public in 3,000 years.” One reason why he said that Huawei would not go public may be its shareholder structure. Hong Kong-based economist Larry H.P. Lang described Huawei’s corporate structure as “globally unique,” with registration information on China’s Shenzhen credit website showing that Huawei Investment & Holdings Co. has only two shareholders—the Labor Union Committee, which holds 99 percent of the shares, and Ren Zhengfei, who holds 1 …