Huawei maintains solid operations in 2021, earns USD 99.9b

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The Huawei released its 2021 Annual Report on Monday, revealing that the company had maintained solid operations throughout the past year. As per the report, Huawei achieved USD 99.9 billion in revenue in 2021, and USD 17.8 billion in net profits, an increase of 75.9% year-on-year.

The company’s R&D expenditure reached about USD 22.38 billion in 2021, representing 22.4% of its total revenue, and bringing its total R&D expenditure over the past 10 years to over USD 132.5 billion. Moving forward, the company also plans to continuously increase investment in R&D.

Guo Ping, Huawei’s Rotating Chairman, stated at the press conference, “Overall, our performance was in line with forecast. Our carrier business remained stable, our enterprise business experienced steady growth, and our consumer business quickly expanded into new domains. In addition, we embarked on a fast track of ecosystem development.”

Meng Wanzhou, Huawei’s CFO, also spoke at the event, “Despite a revenue decline in 2021, our ability to make a profit and generate cash flows is increasing, and we are more capable of dealing with uncertainty.”

Thanks to the enhanced profitability of its major businesses, the company’s cash flow from operating activities dramatically increased in 2021, amounting to USD 9.3 billion. Its liability ratio also dropped to 57.8%, and its overall financial structure has become more resilient and flexible.

In 2021, Huawei’s carrier business generated USD44.1 billion in revenue and helped carriers around the world deploy leading 5G networks. Third-party test results have found that 5G networks built by Huawei for customers in 13 countries, including Switzerland, Germany, Finland, the Netherlands, South Korea, and Saudi Arabia, provide the best user experience.

By working with carriers and partners, Huawei has signed more than 3,000 commercial contracts for industrial 5G applications. These kinds of 5G applications are currently seeing large-scale commercial use in sectors like manufacturing, mines, iron & steel plants, ports, and hospitals.

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