Huawei has released its 2022 annual report with steady operations throughout the reporting year as the company netted USD92.37 billion in revenue and USD5.12 billion in net profits.
The report, entitled Steady Operations, Sustainable Survival and Development, notes that Huawei continues to strengthen investment in RandD, with an annual expenditure of USD23.22 billion in 2022, 25.1% of the company’s annual revenue.
The total RandD expenditure over the past ten years to more than USD140.55 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.
“Amid 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,” Xu added.
Huawei’s CFO Sabrina Meng said, “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 USD 25.35 billion.”
Source: Jordan News Agency