Huawei Publishes 2020 Annual Report; +3.8% Revenue Year on Year - TeknoGadyet

Wednesday, March 31, 2021

Huawei Publishes 2020 Annual Report; +3.8% Revenue Year on Year


Today, Huawei published its Annual Report for 2020. While growth slowed, the company's financial output was largely in line with expectations. In 2020, Huawei's sales revenue was CNY891.4 billion, up 3.8 percent year on year, and its net profit was CNY64.6 billion, up 3.2 percent year on year.

Huawei Publishes 2020 Annual Report; +3.8% Revenue Year on Year
Huawei Publishes 2020 Annual Report; +3.8% Revenue Year on Year

Despite the operational challenges posed by US sanctions in 2019 and 2020, Huawei has continued to invite KPMG to audit our financial statements independently and critically. KPMG's paper is a regular audit opinion that hasn't been altered. We will continue to promote accountability by releasing operating data to governments, consumers, vendors, staff, and stakeholders regardless of the circumstances.

Also Read: Huawei Value-Driven Model for Industrial Digitalization in the Post-pandemic Era

Throughout COVID-19 lockdowns, Huawei's carrier company continued to ensure the stable operation of over 1,500 networks in over 170 countries and regions in 2020, helping to support telework, online learning, and online shopping. Working with operators around the world, the organization has advanced more than 3,000 5G innovation ventures in more than 20 sectors, including coal mining, steel processing, ports, and manufacturing.

Huawei's enterprise business has been working hard over the last year to develop creative scenario-based solutions for various industries and to build a digital ecosystem that thrives on collaboration and mutual success. Huawei offered technological capabilities and solutions that were crucial in the fight against the virus during the pandemic. One example is a HUAWEI CLOUD-based AI-assisted diagnostic solution that has helped hospitals all over the world reduce the strain on their medical infrastructure. Huawei has collaborated with partners to launch cloud-based online learning platforms for over 50 million students in primary and secondary school.

Huawei's consumer business advanced its Seamless AI Life strategy ("1 + 8 + N") with the introduction of HarmonyOS and the Huawei Mobile Services (HMS) ecosystem, focusing on smart workplace, fitness & wellness, smart home, easy travel, and entertainment.

"We've stood firm in the face of adversity over the last year," said Ken Hu, Huawei's Rotating Chairman. "We've kept innovating to provide value to our consumers, to assist in the battle against the pandemic, and to encourage global economic recovery and social change." We have used this period to develop our operations, resulting in an output that was mostly in line with expectations.
"To promote social change, economic growth, and sustainable development, we will continue to work closely with our customers and partners."

KPMG, a multinational Big Four accounting company, independently audited all financial statements in the 2020 Annual Report. Visit https://www.huawei.com/en/annual-report/2020 to download the 2020 Annual Report.

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