Huawei released its annual report for 2023 on March 29th. According to the report, the company achieved a global sales revenue of 704.2 billion yuan and a net profit of 87 billion yuan last year. In 2022, these figures were 642.3 billion yuan and 35.6 billion yuan respectively.
From an industry perspective, several major business segments performed well. The ICT infrastructure business maintained steady growth, achieving sales revenue of 362 billion yuan, a 2.3% year-on-year increase. The terminal business performed as expected, achieving sales revenue of 251.5 billion yuan, a 17.3% year-on-year increase. The cloud computing business showed strong momentum, achieving sales revenue of 55.3 billion yuan, a 21.9% year-on-year increase. The digital energy business also achieved good growth, with sales revenue of 52.6 billion yuan, a 3.5% year-on-year increase. The smart automotive solutions business has entered the phase of scale delivery, achieving sales revenue of 4.7 billion yuan, a 128.1% year-on-year increase.
"The overall operation of the group in 2023 was in line with expectations. In the past few years, Huawei has experienced numerous challenges and has continued to grow amid those challenges. It is the trust and support of customers, partners, and society that have helped Huawei survive and develop," said rotating Chairman Hu Houkun.
As a long-standing commitment and a "secret weapon" in adversity, Huawei highly values research and innovation. In 2023, the company invested 164.7 billion yuan in research and development, accounting for 23.4% of its annual revenue. Over the past decade, Huawei's cumulative R&D expenses have exceeded 1.11 trillion yuan.
