annual report huawei

Also present at the event was Sabrina Meng, Huawei's CFO. She noted, "Despite substantial pressure in 2022, our overall business results were in line with forecast. At the end of 2022, our liability ratio was 58.9% and our net cash balance was CNY176.3 billion. In addition, our balance of total assets reached one trillion yuan, largely composed of current assets such as cash, short-term investments, and operating assets. Our financial position remains solid, with strong resilience and flexibility. In 2022, our total R&D spend was CNY161.5 billion, representing 25.1% of our total revenue – among the highest in Huawei's history. In times of pressure, we press on – with confidence."

In 2022, revenue from Huawei's carrier, enterprise, and consumer businesses was CNY284 billion, CNY133.2 billion, and CNY214.5 billion, respectively.

Huawei is a strong proponent of growing together with its ecosystem partners, and believes that openness and collaboration lead to shared success. The company has continued to open up its platform capabilities across its HarmonyOS, Kunpeng, Ascend, and cloud portfolio, focusing on improving developer experience as well as enabling and supporting its ecosystem partners on all fronts. Huawei currently works with more than nine million developers and over 40,000 ecosystem partners to fuel ecosystem-based innovation and create greater value for its customers.

"2023 will be crucial to Huawei's sustainable survival and development," Xu noted. "Plum blossoms tend to grow sweeter from a harsh winter's freeze. Today, Huawei is like a plum blossom. While it's true that we have considerable pressure ahead of us, we have what it takes to come out the other end – with opportunities to grow, a resilient business portfolio, a unique competitive edge, the enduring trust of our customers and partners, and the courage to invest heavily in R&D. We are confident in our ability to rise above any challenge that comes our way, laying a solid foundation for sustainable survival and development."

All financial statements in the 2022 Annual Report were independently audited by KPMG, an international Big Four accounting firm. To download the 2022 Annual Report, please visit https://www.huawei.com/en/annual-report/2022

Note: The 2022 closing exchange rate is US$1.00 = CNY6.9533

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Huawei 2023 annual report shows net profit of $12 billion with 144.5% YoY increase

Huawei has published its 2023 annual report showcasing its net profit, global sales revenue, and other aspects. This time, the Chinese tech giant has gained $12 billion. Despite several challenges, the company achieved good enough scores in 2023.

Compared to 2022 with a net profit of 35.6 billion yuan, Huawei has earned a 144.5% YoY increment. The 2023 annual report further shows that the company has made a global sales revenue of $9 billion (704.2 billion yuan) with a 9.63% increase.

Huawei also sheds light on the R&D (research and development) part and said that the investment has reached 164.7 billion yuan with a 23.4% annual revenue. Meanwhile, the cumulative investment in R&D expenses within the past decade outstripped around 1.110 billion yuan.

Overall data in the report signify that the firm’s operating conditions are in line with expectations. The ICT infrastructure business, cloud computing, and digital energy have achieved a good enough growth rate in the past year.

Huawei 2023 annual report (Image Credits: Huawei)

Smart car solutions business is another major department that helped the company to pursue efficient growth, compared to 2022. You can check the list of figures regarding major Huawei businesses and their increase below:

• ICT infrastructure business – 362 billion yuan (2.3% YoY)
• Device business – 251.5 billion yuan (17.3% YoY)
• Cloud computing business – 55.3 billion yuan (21.9% YoY)
• Digital energy business – 52.6 billion yuan (3.5% YoY)
• Smart Car Solutions business – 4.7 billion yuan (128.1% YoY)

Huawei’s Rotating Chairman – Hu Ken says:

“We’ve been through a lot over the past few years. But through one challenge after another, we’ve managed to grow. The trust and support of our customers, partners, and friends around the world is what helped us keep going, surviving, and growing. A new journey awaits us in 2024. We will create greater value for our customers and society by driving open innovation, building thriving ecosystems, and succeeding through quality.”

You can check the entire Huawei 2023 annual report and its net profit HERE .

Xu Zhijun will take on Huawei rotating chairman tenure from April 1, 2024

Three new Huawei phones enter network certification, expected to be P70 series

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Easter 2024

Huawei’s profit more than doubles in 2023, sales up 9.6% as cloud and digital businesses grow

FILE - A customer carries his purchased Huawei product outside a Huawei store after he attended the Huawei new product launch conference in Beijing, on Sept. 25, 2023. Chinese telecoms gear company Huawei Technologies has reported its profit more than doubled last year as its cloud and digital businesses thrived in spite of U.S. sanctions. (AP Photo/Andy Wong, File)

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HONG KONG (AP) — Chinese telecoms gear company Huawei Technologies has reported its profit more than doubled last year as its cloud and digital businesses thrived in spite of U.S. sanctions.

The Shenzhen-based company reported a net profit of 87 billion yuan ($12 billion), helped by strong sales and an improved product portfolio. Revenue jumped nearly 10% from a year earlier, to 704.2 billion yuan ($97.4 billion).

Huawei’s rotating chairman Ken Hu said the company’s figures were in line with forecasts.

“We’ve been through a lot over the past few years. But through one challenge after another, we’ve managed to grow,” Hu said.

Huawei also said it profited from “gains from the sales of some businesses.” It did not specify which businesses were sold.

Huawei, one of China’s first global tech brands, has been caught up in China-U.S. tensions over technology and security.

The U.S. has banned U.S. companies from doing business with Huawei, cutting off its access to computer chips and software such as Google services for its smartphones and preventing it from selling its telecommunications gear to U.S. customers.

Washington says Huawei poses a threat to U.S. national security. Huawei denies that.

Huawei has refocused its business on cloud computing services and helping industries to shift to more digital operations.

Revenues from its cloud computing business grew almost 22% year-on-year in 2023 to 55.3 billion yuan ($7.7 billion). Sales for its digital power business grew 3.5%. Its automotive services related sales more than doubled.

Huawei’s consumer unit, which sells smartphones and other devices, posted a 17.3% jump in revenue in 2023.

Last year, Huawei launched its high-end Mate 60 smartphone line, powered by an advanced chip that it made together with China’s Semiconductor Manufacturing International Corporation (SMIC).

“In 2024, we will further expand our presence in the high-end market by working with ecosystem partners worldwide to bring more innovative products and services to consumers across the globe,” the company said in a statement to the AP.

The launch of the Mate 60 prompted speculation that Huawei and China may be able to produce 5G chips.

U.S. lawmakers later accused SMIC of violating U.S. sanctions by supplying chips to Huawei. Taiwan also launched an investigation into four local companies over reports that they helped Huawei in its chip efforts. Some of the companies said they were offering wastewater and environmental protection services unrelated to critical technology.

Huawei is one of the world’s biggest spenders in research and development. In 2023, it invested 164.7 billion yuan ($22.8 billion) into R&D, accounting for almost a quarter of its annual revenue. Just over half of Huawei’s 207,000 employees work in R&D.

Huawei's profit more than doubles in 2023, sales up 9.6% as cloud and digital businesses grow

A customer carries his purchased Huawei product outside a Huawei store after he attended the Huawei new product launch conference in Beijing, on Sept. 25, 2023. Chinese telecoms gear company Huawei Technologies has reported its profit more than doubled last year as its cloud and digital businesses thrived in spite of U.S. sanctions. Credit: AP/Andy Wong

HONG KONG — Chinese telecoms gear company Huawei Technologies has reported its profit more than doubled last year as its cloud and digital businesses thrived in spite of U.S. sanctions.

The Shenzhen-based company reported a net profit of 87 billion yuan ($12 billion), helped by strong sales and an improved product portfolio. Revenue jumped nearly 10% from a year earlier, to 704.2 billion yuan ($97.4 billion).

Huawei’s rotating chairman Ken Hu said the company’s figures were in line with forecasts.

“We’ve been through a lot over the past few years. But through one challenge after another, we’ve managed to grow,” Hu said.

Huawei also said it profited from “gains from the sales of some businesses.” It did not specify which businesses were sold.

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Huawei, one of China’s first global tech brands, has been caught up in China-U.S. tensions over technology and security.

The U.S. has banned U.S. companies from doing business with Huawei, cutting off its access to computer chips and software such as Google services for its smartphones and preventing it from selling its telecommunications gear to U.S. customers.

Washington says Huawei poses a threat to U.S. national security. Huawei denies that.

Huawei has refocused its business on cloud computing services and helping industries to shift to more digital operations.

Revenues from its cloud computing business grew almost 22% year-on-year in 2023 to 55.3 billion yuan ($7.7 billion). Sales for its digital power business grew 3.5%. Its automotive services related sales more than doubled.

Huawei’s consumer unit, which sells smartphones and other devices, posted a 17.3% jump in revenue in 2023.

Last year, Huawei launched its high-end Mate 60 smartphone line, powered by an advanced chip that it made together with China’s Semiconductor Manufacturing International Corporation (SMIC).

“In 2024, we will further expand our presence in the high-end market by working with ecosystem partners worldwide to bring more innovative products and services to consumers across the globe,” the company said in a statement to the AP.

The launch of the Mate 60 prompted speculation that Huawei and China may be able to produce 5G chips.

U.S. lawmakers later accused SMIC of violating U.S. sanctions by supplying chips to Huawei. Taiwan also launched an investigation into four local companies over reports that they helped Huawei in its chip efforts. Some of the companies said they were offering wastewater and environmental protection services unrelated to critical technology.

Huawei is one of the world’s biggest spenders in research and development. In 2023, it invested 164.7 billion yuan ($22.8 billion) into R&D, accounting for almost a quarter of its annual revenue. Just over half of Huawei’s 207,000 employees work in R&D.

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Huawei's profit doubled in 2023 as smartphone, autos business picked up

• Chinese telecommunications company Huawei said Friday its net profit for 2023 more than doubled thanks to better product offerings.
• The telecommunications company made a comeback in the smartphone market in 2023 with the quiet release of its Mate 60 Pro in China in late August.

BEIJING — Chinese telecommunications company Huawei said Friday its net profit for 2023 more than doubled thanks to better product offerings.

The company also attributed the profit gains to revenue growth of 9.6% year-on-year to 704.2 billion yuan ($99.18 billion). Net profit grew by 144.5% year-on-year to 87 billion yuan.

Higher quality operations and sales of some businesses contributed to profitability as well, according to Huawei.

The telecommunications company made a comeback in the smartphone market in 2023 with the quiet release of its Mate 60 Pro in China in late August. Reviews indicated the device offers download speeds associated with 5G — thanks to an advanced semiconductor chip. That's despite U.S. restrictions since 2019 on Huawei's ability to access high-end tech from American suppliers.

The Mate 60 Pro helped boost Huawei's sales in China. In the fourth quarter, Huawei smartphone shipments in the country surged by 47% from a year ago, putting the company in fourth place by market share, ahead of Xiaomi, according to Canalys. Apple maintained first place with 6% year-on-year growth in shipments, the data showed.

Huawei's revenue grew by 0.9% to 642.3 billion yuan in 2022 , as the company stabilized its business in a tough year following a plunge of more than 28% in sales in 2021. Net profit in 2022 fell by 69%, the largest drop on record. The company at the time cited rising commodity prices, China's pandemic controls and growing research and development spend.

Huawei on Friday also said its intelligent automobile solutions business saw revenue grow by 128.1% from a year ago to 4.7 billion yuan.

The company sells software and other technology to car companies. It has also partnered with an automaker for the Aito electric car brand.

Huawei said its consumer business saw revenue grow by 17.3% year-on-year to 251.5 billion yuan in 2023.

ICT remained by far Huawei's biggest revenue driver with 362 billion yuan in revenue in 2023, up 2.3% from a year ago.

Cloud revenue grew by nearly 22% to 55.3 billion yuan.

— CNBC's Arjun Kharpal contributed to this report.