Huawei released its 2022 Annual Report, confirming steady operations throughout 2022 and the generation of CNY642.3 billion in revenue and CNY35.6 billion in net profits over the course of the year.
Huawei continues to strengthen investment in R&D with an annual expenditure of CNY161.5 billion in 2022, representing 25.1% of the company’s annual revenue and bringing its total R&D expenditure over the past 10 years to more than CNY977.3 billion.
Eric Xu, Huawei’s Rotating Chairman, said at the company’s annual report press conference: “In 2022, a challenging external environment and non-market factors continued to take a toll on Huawei’s operations. In the midst of this storm, we kept racing ahead, doing everything in our power to maintain business operations and continue serving our customers. We also went to great lengths to grow the harvest – generating a steady stream of revenue to sustain our survival and lay the groundwork for future development.”
Also present at the event was Sabrina Meng, Huawei’s CFO, who noted: “Despite substantial pressure in 2022, our overall business results were in line with our forecasts. At the end of 2022, our liability ratio was 58.9% and our net cash balance was CNY176.3 billion. In addition, our balance of total assets reached one trillion yuan, largely composed of current assets such as cash, short-term investments, and operating assets. Our financial position remains solid with strong resilience and flexibility. In 2022, our total R&D spend was CNY161.5 billion, representing 25.1% of our total revenue – among the highest in Huawei’s history. In times of pressure, we press on with confidence.”
Description automatically generatedSabrina Meng speaks at the press conference In 2022, revenue from Huawei’s carrier, enterprise, and consumer businesses was CNY284 billion, CNY133.2 billion, and CNY214.5 billion, respectively.
In Thailand, Huawei announced its commitment to cultivate local talents, with the company aiming to train 20,000 developers and 10,000 green power engineers within three years. In 2023 alone, Huawei plans to train over 14,000 ICT professionals through their education platform Huawei ASEAN Academy.
Furthermore, Huawei is dedicated to improving education in rural areas. For example, during Thailand’s annual Songkran festival, the company will launch a water splash campaign and promises to donate solar roof systems to schools in rural areas if over 5,000 social media posts using @Huawei or #Huawei are made.
Adopting solar roof systems will provide schools with stable power supplies, even during thunderstorms. Cybersecurity is also a crucial issue for Thailand, one which Huawei is committed to tackle.
The company plans to launch the Thailand cybersecurity communication plan, which will use short videos and storytelling to educate the public about cybersecurity and Huawei’s contributions towards it.
Huawei aims to make this topic easily understandable for a mass audience through various events and initiatives going forward. Huawei firmly believes that the company can only succeed when its partners succeed.
To better serve partner service development, Huawei will optimize its partner policies and use the best certification standards and incentive rules, including partner deal registration processes, to ensure partners benefit in a more professional and systematic manner.
In closing, the CEO of Huawei Thailand, David Li, reaffirmed the company’s vision of “Growing in Thailand, Contributing to Thailand”. All financial statements in the 2022 Annual Report were independently audited by KPMG, an international Big Four accounting firm.
To download the 2022 Annual Report, please visit https://www.huawei.com/en/annual-report/2022
