• English
    • en_USEnglish
    • en_GBEnglish
28 °c
26 ° Tue
26 ° Wed
26 ° Thu
26 ° Fri
Sunday, June 15, 2025
Asiafreepress
  • Home
    • Latest
  • World
  • Asia
    • China
    • Pakistan
    • Afghanistan
    • India
    • Central Asia
  • News
  • Politics
  • Security
  • Law
  • Business
  • Review
    • Editorial
    • Analysis
    • Perspective
    • Literature
  • Science & Tech
  • Entertainment
    • Showbiz
    • Lifestyle
  • Sports
  • Multimedia
Breaking News
Trump willing to work on Kashmir issue, confirms US State DeptLos Angeles mayor declares curfew in downtown amid immigration protestsChina to enhance strategic communication, coordination with France: VPChinese premier urges efforts to improve transformation of sci-tech achievementsGaza’s ‘Humanitarian’ Façade: A Deceptive Ploy Unravels
No Result
View All Result
  • Home
    • Latest
  • World
  • Asia
    • China
    • Pakistan
    • Afghanistan
    • India
    • Central Asia
  • News
  • Politics
  • Security
  • Law
  • Business
  • Review
    • Editorial
    • Analysis
    • Perspective
    • Literature
  • Science & Tech
  • Entertainment
    • Showbiz
    • Lifestyle
  • Sports
  • Multimedia
No Result
View All Result
Asiafreepress
No Result
View All Result
Home Business

Huawei releases annual report, strengthens investment in research & development

asiafreepress by asiafreepress
March 31, 2023
in Business, Latest, News
0
Huawei releases annual report, strengthens investment in research & development
0
SHARES
79
VIEWS

BEIJING, Mar 31 (APP): China’s tech-giant Huawei released its 2022 Annual Report in the coastal city of Shenzhen on Friday and reported steady operations throughout 2022, having generated CNY642.3 billion in revenue and CNY35.6 billion in net profits.

Huawei continues to strengthen its investment in R&D, with an annual expenditure of CNY161.5 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 CNY977.3 billion.

“In 2022, a challenging external environment and non-market factors continued to take a toll on Huawei’s operations”, said Eric Xu, Huawei’s Rotating Chairman, at the company’s annual report press conference.

“In the midst of this storm, we kept racing ahead, doing everything in our power to maintain business continuity and serve our customers. We also went to great lengths to grow the harvest – generatiing a steady stream of revenue to sustain our survival and lay the groundwork for future development.”

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.

Previous Post

China launches remote sensing satellite into space

Next Post

India subjecting Kashmiris to worst socioeconomic aggression: Masarat Alam

asiafreepress

asiafreepress

Next Post
India subjecting Kashmiris to worst socioeconomic aggression: Masarat Alam

India subjecting Kashmiris to worst socioeconomic aggression: Masarat Alam

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

Stay Connected test

  • Trending
  • Comments
  • Latest
Heroic Tale of a Pakistani SULTAN in 1971 War

Heroic Tale of a Pakistani SULTAN in 1971 War

December 1, 2021
Jammu Genocide: Forgotten human carnage of disputed region

Jammu Genocide: Forgotten human carnage of disputed region

November 6, 2021
Indian forces kill under trial inmate in staged encounter in Kashmir

Indian forces kill under trial inmate in staged encounter in Kashmir

October 26, 2021
Peace, development make way to Xinjiang. Experts reject US allegations of genocide in Xinjiang China

Peace, development make way to Xinjiang. Experts reject US allegations of genocide in Xinjiang China

November 26, 2021
Jammu Genocide: Forgotten human carnage of disputed region

Jammu Genocide: Forgotten human carnage of disputed region

4
Pakistan summons Indian diplomat over killing of Muslims  in Assam

Pakistan summons Indian diplomat over killing of Muslims in Assam

4
India’s senior army officer booked on rape charges

India’s senior army officer booked on rape charges

3
Peace, development make way to Xinjiang. Experts reject US allegations of genocide in Xinjiang China

Peace, development make way to Xinjiang. Experts reject US allegations of genocide in Xinjiang China

3
Trump willing to work on Kashmir issue, confirms US State Dept

Trump willing to work on Kashmir issue, confirms US State Dept

June 11, 2025
Los Angeles mayor declares curfew in downtown amid immigration protests

Los Angeles mayor declares curfew in downtown amid immigration protests

June 11, 2025
China to enhance strategic communication, coordination with France: VP

China to enhance strategic communication, coordination with France: VP

June 10, 2025
Chinese premier urges efforts to improve transformation of sci-tech achievements

Chinese premier urges efforts to improve transformation of sci-tech achievements

June 10, 2025

Recent News

Trump willing to work on Kashmir issue, confirms US State Dept

Trump willing to work on Kashmir issue, confirms US State Dept

June 11, 2025
Los Angeles mayor declares curfew in downtown amid immigration protests

Los Angeles mayor declares curfew in downtown amid immigration protests

June 11, 2025
China to enhance strategic communication, coordination with France: VP

China to enhance strategic communication, coordination with France: VP

June 10, 2025
Chinese premier urges efforts to improve transformation of sci-tech achievements

Chinese premier urges efforts to improve transformation of sci-tech achievements

June 10, 2025
Asiafreepress

Follow Asia Free Press (AFP) on Twitter, Facebook, Linkedin, Youtube and Instagram for the latest news from China, Pakistan, Afghanistan, India, Kashmir and across Asia.

Follow Us

Photo Gallery

Quick Links

  • Submission Guidelines
  • Privacy Policy
  • About Us
  • Contact Us

Stay in Touch

To be updated with all the latest news, offers, and special announcements.

No Result
View All Result
  • Home
    • Latest
  • World
  • Asia
    • China
    • Pakistan
    • Afghanistan
    • India
    • Central Asia
  • News
  • Politics
  • Security
  • Law
  • Business
  • Review
    • Editorial
    • Analysis
    • Perspective
    • Literature
  • Science & Tech
  • Entertainment
    • Showbiz
    • Lifestyle
  • Sports
  • Multimedia

en_USEnglish (United States)
en_GBEnglish (UK) en_USEnglish (United States)