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The Financial Express

Huawei releases 2019 Annual Report

FE Online Desk | Published: April 01, 2020 16:56:31


Huawei releases 2019 Annual Report

Huawei released its 2019 Annual Report on Tuesday in Shenzhen, China, detailing a solid business performance.

The company's global sales revenue in 2019 rounded off at CNY858.8 billion (USD 123 billion), up 19.1% year-on-year; its net profit reached CNY62.7 billion (USD 8.83 billion); and its cash flow from operating activities topped CNY91.4 billion (USD 12.88 billion), up 22.4% year-on-year. As part of a long-term, ongoing investment in technological innovation and research, Huawei invested 15.3% of its 2019 revenue – or CNY131.7 billion (USD 18.5 billion) – back into R&D. Its total R&D spend over the past decade now exceeds CNY600 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." In 2019, Huawei's carrier business led the commercial rollout of 5G networks. To further commercial adoption and promote new innovation in 5G applications, the company established 5G joint innovation centers together with carriers worldwide. Huawei's RuralStar base station solutions can effectively address coverage problems in remote areas. These solutions are being used in over 50 countries and regions, bringing mobile Internet to more than 40 million people living in remote areas. In 2019, sales revenue from Huawei's carrier business reached CNY296.7 billion, up 3.8% year-on-year.

Founded in 1987, Huawei is a private company fully owned by its employees. As localized leading global ICT solutions provider, over the last 21 years, Huawei has been working closely with the ICT industry, telecom operators & local partners to fulfill the dream of ‘Digital Bangladesh’ by bringing technical benefits to the people as well as contributing to the society with different CSR programs. Huawei is in Bangladesh, for Bangladesh! This is Huawei's call to action in Bangladesh, a way of thinking and a way of life that is built on collaboration.

-rmc//

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