Huawei maintained the stability of its operations over the past year, achieving revenues of $92.37 billion and net profits of $5.12 billion, according to its annual report and audited financial results for the year 2022.
Huawei also continued to enhance its investment in research and development to provide more innovations as a solution to challenges, as its annual spending on research and development reached $ 23.22 billion last year, equivalent to 25.1% of the company’s annual revenue, bringing the total amount that the company spent on research and development over the years. The past ten to more than 140.55 billion US dollars.
“Huawei’s operations continued to be challenged over the past year posed by difficult circumstances and changes not related to the market,” Eric Xu, Huawei’s regular chairman, said at the annual report press conference. He added, “We continued to grow our business despite the difficult circumstances and made great efforts to continue business, provide services to our customers and achieve profits – to maintain stable revenues in order to provide solid foundations for the development of our business in the future.”
In turn, Sabrina Ming, Chief Financial Officer of Huawei, said, “Despite the great pressures and challenges in 2022, our revenues and overall business results were in line with expectations. At the end of 2022, the average debt ratio was 58.9% and the net cash flow reached $25.35 billion. In addition to Thus, total assets amounted to $0.14 trillion, which largely consists of current assets such as cash, short-term investments and operating assets.. The company continues to have a strong financial position, with great resilience.
It is worth noting that the revenues of the business groups “Huawei Carrier” for telecom networks, “Huawei Enterprise” for the enterprise and enterprise sector, and “Huawei Consumer” for consumer devices amounted to $40.84 billion, $19.15 billion, and $30.84 billion, respectively, in 2022.
The company continued to enhance the capabilities of its platforms, including the Harmony OS operating system and the cloud computing platform, focus on developers, and enable and support ecosystem partners in all areas, as Huawei is currently cooperating with more than 9 million developers and more than 40,000 partners in the ecosystem in order to promote innovation by relying on on the ecosystem and bring greater value to customers.
