Huawei announced its 2022 financial results: the company’s global revenue totaled $92.3 billion while net income reached $5.1 billion. Huawei also continued to invest in R&D, with annual expenditure of US$23.2 billion in 2022, which accounts for 25.1% of Huawei’s annual revenue for a total R&D investment of more than US$140.5 billions of dollars in the last 10 years. “2022 was characterized by a challenging macro-environment and external factors not strictly related to the market that challenged Huawei’s activities” – said Eric Xu, Rotating Chairman of Huawei, during the annual announcement press conference of the company’s financial results. “Despite this, we have worked hard to continue our business successfully, doing everything in our power to ensure business continuity and serve our customers. In parallel, we have also worked hard to grow the fruits of our labor, generating a steady stream of revenues to support our business and lay the foundation for its future growth.”
The press conference was also attended by Sabrina Meng, CFO of Huawei, who said: “Despite the significant pressure we have been under in 2022, our overall business results have been in line with forecasts. At the end of 2022, the our asset-to-liability ratio stood at 58.9% while our net cash holdings totaled $25.3 billion In addition, our total asset balance, largely composed of current assets such as cash, investments short-term and operating assets, reached US$143.8 billion.Therefore, Huawei’s financial position remains strong, demonstrating strong resilience and flexibility.In 2022, our total R&D expenditure was US$23.3 billion, accounting for 25.1% of Huawei’s total revenue, making it one of the most significant investments in this area in the company’s history. As a result, even in a challenging period like this we are going through, we continue our business with great confidence.”
In 2022, the business divisions Carrier, Enterprise and Consumer revenues were $40.8 billion, $19.2 billion and $30.8 billion, respectively. “2023 will be crucial for Huawei’s progress and sustainable development,” Xu noted. “We are aware that we will be under considerable pressure but we have what it takes to successfully overcome even this challenge, backed by growth opportunities, a resilient business portfolio, unrivaled competitiveness, the established trust of our customers and partners and the courage to invest significantly in R&D. Therefore we place confidence in our ability to overcome any challenge, laying a solid foundation for sustainable success”.
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