Huawei posts robust net profits growth in 2021
Despite a revenue decline in 2021, our ability to make a profit and generate cash flows is increasing, and we are more capable of dealing with uncertainty, Meng Wanzhou, Huaweis chief financial officer, said at the press conference.
Moving forward, Huawei will advance its journey of digitalization, intelligent transformation, and low carbon, said Guo. Relying on talent, scientific research, and an innovative spirit, we will continuously increase investment to reshape our paradigms for fundamental theories, architecture, and software, and build our long-term competitiveness.
Over the period, Huaweis enterprise business grew rapidly, generating 102.4 billion yuan in revenue. Over 700 cities and 267 Fortune Global 500 companies have chosen Huawei as their digital transformation partner and the company now works with more than 6,000 service and operation partners around the world.
Our carrier business remained stable, our enterprise business experienced steady growth, and our consumer business quickly expanded into new domains, said Guo.
The annual report shows that the companys cash flow from operating activities dramatically increased in 2021, amounting to 59.7 billion yuan.
Meanwhile, its consumer business generated 243.4 billion yuan in revenue last year and continued to see steady sales growth in smart wearables, smart screens, true wireless stereo (TWS) earbuds, and Huawei Mobile Services (HMS).
According to the report, in 2021, Huaweis carrier business generated 281.5 billion yuan in revenue, and by working with carriers and partners around the world, the company signed more than 3,000 commercial contracts for industrial 5G applications.
In 2021, Huawei also focused on building out its openEuler, MindSpore, and HarmonyOS ecosystems based on the principles of open collaboration and shared growth. Over eight million developers are currently using Huaweis open platforms, open-source software, and development tools, according to the report.
Overall, our performance was in line with forecast, Huaweis Rotating Chairman, Guo Ping, said at its 2021 annual report press conference held in Shenzhen, south Chinas Guangdong Province.
Photo/Zhu Wanping (NBD)
Chinas telecommunication giant Huawei maintained solid operations throughout 2021, achieving 113.7 billion yuan (about 17.8 billion U.S. dollars) in net profits, up 75.9 percent year on year, and 636.8 billion yuan in revenue, the company said Monday.
The company made a record RD expenditure of 142.7 billion yuan in 2021, representing 22.4 percent of its total revenue and bringing its total RD expenditure over the past 10 years to over 845 billion yuan.
