No, there's absolutely no evidence that Huawei equipment is a legitmate security concern. In fact it's just the opposite. Huawei equipment has been extensively and continuously studied by the best security researchers in the world. Britain, alone, spent roughly $25 million dollars going over all Huawei equipment with a fine tooth comb and their "big conclusion" was that they can only offer "limited assurances" of Huawei equipment [1]. USA and France and Germany and Brazil have also extensively analyzed Huawei equipment and come up with nothing. Ironically, as the discussion in India and Japan and the Phillipines now show, the Western obsession with Huawei and has only made the case for Huawei's equipment much, much stronger.
[1] https://www.reuters.com/article/us-huawei-security-britain-e...