Huawei reported 2022 annual revenue of CNY 642.338 billion (approx US$92.379 billion), a YoY increase of 0.9% and in-line with company forecasts.
The company remained profitable, however the reports shows a significant drop in profits, margins, cash flow, working capital and total assets compared to the past few years.
In the annual report released on Friday, Huawei’s Rotating Chairman Xu Zhijun writes:
“Plum blossoms tend to grow sweeter from a harsh winter’s freeze. Today, Huawei is like a plum blossom. While it’s true that we have considerable pressure ahead of us, we have what it takes to come out the other end – with opportunities to grow, a resilient business portfolio, a unique competitive edge, the enduring trust of our customers and partners, and the courage to invest heavily in R&D. We are confident in our ability to rise above any challenge that comes our way, laying a solid foundation for sustainable survival and development.”
Additional highlights from Huawei’s 176-page annual report:
Huawei’s revenue from the Chinese market amounted to CNY403,999 million in 2022.
In 2022, Huawei’s R&D spend was about CNY161.5 billion, about 25.1% of the company’s annual revenue
By the end of 2022, Huawei’s 400G solution had been deployed by more than 60 carriers around the world.
In China, Huawei helped carriers build more than 30 all-optical cities using the optical cross-connect (OXC) and OTN optical-electrical converged solution, improving user experience on dual-gigabit networks and meeting enterprise customers’ requirements for digital transformation.
In China, Huawei used the ultra-broadband ultra-stable converged backbone network architecture to help carriers build the world’s largest end-to-end 400GE IP backbone network, which boasts 99.9999% reliability
Huawei’s mobile HarmonyOS has already been deployed on 330 million Huawei devices. HarmonyOS 3 was officially launched in 2022, representing a full expansion of the Super Device feature, which is now available on 12 different device types, including smartphones, tablets, PCs, HUAWEI Vision products, earphones, smart watches, and head units.