The Shanghai Clearing House recently disclosed the consolidated and parent company financial statements of Huawei Investment & Holding Co., Ltd. for the third quarter of 2024 on its official website.
The data shows that Huawei achieved a revenue of 585.9 billion yuan in the first three quarters, marking a year-on-year growth of 29.45%. The net profit attributable to the owners of the parent company was 62.868 billion yuan, compared to 72.886 billion yuan in the same period last year.
Additionally, Huawei's R&D expenses for the first three quarters amounted to 127.412 billion yuan, representing a year-on-year increase of 10.8% and accounting for 21.75% of its revenue.
The revenue growth mainly stemmed from robust growth in businesses such as mobile phones and automobiles. Richard Yu, Huawei's Executive Director and Chairman of the Device BG, previously stated that in the first three quarters of 2024, shipments of Huawei flagship phones equipped with the HarmonyOS system increased by 71% year-on-year, with Pura 70 series shipments up by 154% year-on-year.