Huawei’s 2022 Annual Report Shows Consistent Performance, Enduring Sustainability and Growth

Pakistan Tech and Telecom

Huawei released its 2022 Annual Report, revealing that the company had steady operations throughout the year, generating USD92.37 billion in revenue and USD5.12 billion in net profits. The company continues to strengthen its investment in research and development (R&D), spending USD23.22 billion in 2022, representing 25.1% of the company’s annual revenue and bringing its total R&D expenditure over the past 10 years to more than USD140.55 billion.

At the company’s annual report press conference, Huawei’s Rotating Chairman, Eric Xu, acknowledged the challenging external environment and non-market factors that continued to take a toll on Huawei’s operations. However, Xu emphasized the company’s determination to maintain business continuity and serve its customers while generating a steady stream of revenue to lay the groundwork for future development.

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Huawei’s Chief Financial Officer, Sabrina Meng, noted that the company’s overall business results were in line with forecasts, despite substantial pressure in 2022. Meng reported that Huawei’s financial position remained solid, with a liability ratio of 58.9%, a net cash balance of USD25.35 billion, and a balance of total assets of USD0.14 trillion, largely composed of current assets such as cash, short-term investments, and operating assets. Huawei’s total R&D spend was USD23.22 billion, representing 25.1% of its total revenue – among the highest in the company’s history.

Revenue from Huawei’s carrier, enterprise, and consumer businesses in 2022 was USD40.84 billion, USD19.15 billion, and USD30.84 billion, respectively. Huawei continues to collaborate with its ecosystem partners, opening up its platform capabilities across its HarmonyOS, Kunpeng, Ascend, and cloud portfolio to improve developer experience and enable and support 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.

Looking ahead, Eric Xu noted that 2023 would be crucial to Huawei’s sustainable survival and development. He likened Huawei to a plum blossom that grows sweeter from a harsh winter’s freeze, emphasizing the company’s unique competitive edge, resilient business portfolio, enduring trust of customers and partners, and courage to invest heavily in R&D. Huawei is confident in its ability to rise above any challenge that comes its way, laying a solid foundation for sustainable survival and development.

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