Not really:

"Who Controls Huawei?"
https://www.ui.se/globalassets/butiken/ui-paper/2020/ui-pape...

"Technical dependency and the issue of party-state control over Huawei"

"...While at first glance Huawei’s line of
defence appears convincing, there are also
reasons for doubt. It is true that the
company is privately owned by its
employees, but there is reason to believe
that ownership does not come with control..."

"...Huawei has not only profited from party-state support,
but is operating in a specific political, legal
and economic environment that makes it impossible for
the company to be fully independent..."

"....The widespread distinction between
privately owned enterprises (POEs) and
state ownership is not decisive in China.
It is not ownership but the issue of “state
capture”that is pivotal... "

"...Following an official request, Huawei has
confirmed to the author of this paper that
party organisations exist within the
company in accordance with Chinese law.
The company has provided assurances that
party organisations have no influence on
the company’s business operations and that
it is run by an independent management
team. The party organisations are mainly
responsible for educating employees. The
general findings on the deep linkages
between the economic and political elites,
however, call into question whether such
differentiation is adequate in the context of
China’s political economy..."

"...China lacks an independent judiciary.
While theCCP government speaks of strengthening
the role of law in its governance, it follows a
rule by law principle and does not intend to
implement the rule of law. The CCP has an
essentially instrumentalist understanding of
law. Law is seen not as a constraint on
power, but as a means of power. This means
that legal certainty does not exist in areas of
crucial political importance. Hence, laws do
not provide reassurance against political
interference in the business operations of
Chinese companies..."

"...China’s Intelligence Law,raise even further
doubts about whether the law could shield
private sector companies from political interference.
Article 7 of the Intelligence Law enacted in 2017 and
amended in 2018 requires any organisation
and citizen to “support, assist in and
cooperate in national intelligence work”..."

"...Scepticism over Huawei’s independence
from party-state control does not just stem
from the political, legal and economic
environment in which it operates....Huawei’s founder,
Ren Zhengfei, is widely believed to have a past
in China’s People’s Liberation Army. His daughter
and the company’s Chief Financial Officer, Meng
Wanzhou, is suspected to have held a public
affairs passport.... A widely discussed and
controversial analysis of the CVs of leading
Huawei engineers found a large overlap
with China’s security apparatus..."

"...This clearly demonstrates that
the main control over Huawei does not lie
with the employees of the company, who
can only choose 83 people from a preselected
list of 109 candidates, but with the
nomination teams that hand-pick these
people using vague criteria. Whoever wants
to control Huawei needs to control the
nomination teams. There are no adequate
checks in place to ensure that it is not the
Chinese Communist Party and its
organisations within the company that are
the ones exercising such control...."

"...What sparks further suspicion of the process
is that none of the Huawei employees I have
talked to was aware of the nomination
process, even though it turns out that real
power of selection lies with the nomination
teams..."

"...In the light of these four factors – the
general level of independence of the POEs,
the legal environment and Intelligence Law,
state support for Huawei and the company’s
governance structure – it is very difficult to
reject the claims of Huawei critics that the
company is more than just a privately run
company striving for economic profit..."