Huawei has released its 2022 Annual Report stating it had a stable year of operations in 2022, with revenue of CNY642.3 billion and net profits of CNY35.6 billion.
In 2022, Huawei maintained its focus on investing in research and development, with an annual expenditure of CNY161.5 billion. This represents 25.1% of the company’s yearly revenue, and over the last decade, Huawei’s total R&D expenditure has exceeded CNY977.3 billion.
During the company’s annual report press conference, Eric Xu, Huawei’s Rotating Chairman, acknowledged that in 2022, their operations were impacted by a challenging external environment and non-market factors.
However, he also noted that despite the difficulties, Huawei persevered and took measures to ensure business continuity and customer satisfaction. In addition, the company made significant efforts to generate steady revenue to sustain its survival and prepare for future development.
Sabrina Meng, Huawei’s CFO, was also in attendance at the event. She pointed out that despite facing significant pressure in 2022, their overall business results were in line with the forecast. As of the end of 2022, Huawei’s liability ratio was 58.9%, and the company’s net cash balance was CNY176.3 billion.
In 2022, Huawei’s carrier, enterprise, and consumer businesses generated revenues of CNY284 billion, CNY133.2 billion, and CNY214.5 billion, respectively.
Huawei strongly advocates for collaborative growth with its ecosystem partners, believing that openness and cooperation lead to mutual success. The company has continued to expand its platform capabilities in HarmonyOS, Kunpeng, Ascend, and cloud portfolio, with a focus on enhancing developer experience and providing support to its ecosystem partners.
Currently, Huawei works with more than nine million developers and over 40,000 ecosystem partners to drive ecosystem-based innovation and create more value for its customers.
According to Eric Xu, “2023 will be crucial for Huawei’s sustainable survival and development.” He compared the company to a plum blossom that grows sweeter after enduring the harsh freeze of winter.
Despite the challenges ahead, Huawei possesses the necessary resources, including opportunities for growth, a resilient business portfolio, a competitive advantage, the trust of its customers and partners, and a commitment to heavy investment in R&D, to overcome any obstacle. The company is confident in its ability to build a solid foundation for sustainable survival and development.
It is worth noting that all financial statements in the 2022 Annual Report underwent independent auditing by KPMG, a reputable international Big Four accounting firm.
