Recently, Huawei released its 2022 annual report, according to which its global sales revenue for 2022 reached 642.3 billion yuan, a sum almost on the same level with the 636.8 billion yuan revenue reported for 2021. The company’s net profit totaled 35.6 billion yuan, with the net profit rate at a relatively low 5.5%.
Mr. Xu Zhijun, Huawei’s rotating chairman, stated that “the challenging external environment and non-market factors have been exerting continuous influences on the company’s operation. Caught up in the storm, we are still running forward, sparing no effort to keep the business going, and to ensure customer support and service. We also struggle to raise our supplies so that we can survive, as well as lay a basis for future growth.”
Ms. Meng Wanzhou, Huawei’s chief financial officer, noted that “In 2022, the general performance lived up to expectations, despite high pressure as before. In 2022, the total R&D expenditure reached 161.5 billion yuan, with a rate of 25.1%, which was at a historical high. In the face of the future, we are under pressure, but hold more confidence!”