Huawei’s annual report shows robust performance

Shenzhen. Huawei has released its 2019 Annual Report. Despite the whole Google services ban saga, the company has reported solid business performance. It detailed global sales revenue in 2019, which rounded off at CNY 858.8 billion, up 19.1 per cent year-on-year.

The company reveals its net profit reached CNY62.7 billion; and its cash flow from operating activities topped CNY91.4 billion, up 22.4 per cent, year-on-year. Further, the company invested 15.3 per cent of its 2019 revenue – or CNY131.7 billion .

“2019 was an extraordinary year for HUAWEI,” said Eric Xu, Huawei‘s Rotating Chairman. “Despite enormous outside pressure, our team forged ahead with a singular focus on creating value for our customers. We worked hard to earn their respect and trust, as well as that of our partners around the globe. Business remains solid.”

Further, in 2019, sales revenue from Huawei’s carrier business reached CNY296.7 billion, up 3.8 per cent year-on-year.

Huawei's consumer business continues to see robust growth, with a total of 240 million smartphones shipped throughout the year. The company reports further progress in developing the Seamless AI Life ecosystem across all scenarios and devices, including personal computers, tablets, wearables, and smart screens. In 2019, sales revenue from Huawei's consumer business reached CNY467.3 billion, up 34 per cent year-on-year.

"The external environment will only get more complicated going forward," Xu cautioned. "We need to keep enhancing the competitiveness of our products and services, promoting open innovation, and creating greater value for our customers and society at large. This is the only way we can seize the historic opportunities presented by the digital and intelligent transformation of industries, and maintain robust growth in the long run."

All financial statements in the 2019 Annual Report were independently audited by KPMG, an international Big Four accounting firm.