Huawei after 3 years of ’embargo’ from the US: Continuously pouring money into R&D, believing that ‘plum flowers will bloom after the cold winter’

Huawei has just officially released its 2022 Annual Report, with revenue of $92.37 billion and net profit of $5.12 billion.

Besides, Huawei continues to increase investment in R&D with a budget of 23.23 billion USD in 2022 – accounting for 25.1% of the total revenue of the year. According to Ms. Manh Van Chu – who will become Huawei’s Chair from April 1, this is the largest investment in R&D in Huawei’s history. The company’s total R&D expenditure over the past 10 years has reached 140.55 billion USD.

According to the company’s financial report, by the end of 2022, Huawei’s number of patents has reached more than 120,000, belonging to the group of companies that own the largest number of patents in the world.

At year-end, the company’s debt ratio was 58.9% and its net cash balance was $25.35 billion. In addition, the balance of total assets reached USD 143.82 billion, mostly consisting of current assets such as: cash, short-term investment capital and operating assets.

According to Sabrina Meng, Huawei’s CFO, “the company’s financial position is “solid, with strong resilience and flexibility”.

Breaking down the structure of the company’s three main business activities in 2022, Huawei said, revenue from the Telecommunications Equipment, Business Solutions and Consumer Equipment businesses will reach $40.84 billion, respectively. ; 19.16 billion USD; and 30.85 billion USD. In which, Business Solutions segment achieved a growth rate of 30% over the same period, becoming the key segment of this company.

Evaluating 2022, Rotating Chairman Eric Xu said that this is an important year for the company’s roadmap for existence and sustainable development.

“In 2022, the challenging external business environment and non-market factors continue to damage Huawei’s operations. Steadfast in this storm, we will continue to race forward. First, try to flexibly do everything in our power to maintain smooth business operations and best serve our customers.We also strive to increase revenue, create a stable revenue stream for the company to survive. present and strengthen the foundation to prepare for future growth ,” he said.

This rotating chairman also has an iconic simile when calling Huawei a “plum blossom”:

Plum blossoms will bear sweet fruit after the harsh cold of winter. Huawei today is like a plum blossom. While we face significant challenges ahead, we have everything it takes to find our way out, including compelling growth opportunities, a flexible business portfolio, a competitive edge, and a competitive edge. unique competition, the long-term trust of customers and partners, as well as the courage to invest heavily in R&D. Huawei is always confident in its ability to overcome all limits and challenges, creating a solid foundation for sustainable existence and development,” he emphasized.