One of the world telecom company, Huawei rose its total assets to $145 billion.
Huawei released its 2022 Annual Report form it’s headquarter Shenzhen, China.
The company reports steady operations throughout 2022, having generated $93 billion in revenue and $5.2 billion in net profits.
Huawei continues to strengthen investment in R&D, with an annual expenditure of $23 billion in 2022, representing 25.1% of the company’s annual revenue and bringing its total R&D expenditure over the past 10 years.
“In 2022, a challenging external environment and non-market factors continued to take a toll on Huawei’s operations”, said Eric Xu, Huawei’s Rotating Chairman, at the company’s annual report press conference.
“In the midst of this storm, we kept racing ahead, doing everything in our power to maintain business continuity and serve our customers.”
He also added that, “We went to great lengths to grow the harvest – generating a steady stream of revenue to sustain our survival and lay the groundwork for future development.”
Sabrina Meng, Huawei’s CFO noted that, “Despite substantial pressure in 2022, our overall business results were in line with forecast.
At the end of 2022, our liability ratio was 58.9% and our net cash balance was $25.6 billion.
In addition, our balance of total assets reached $145.5 billion, largely composed of current assets such as cash, short-term investments, and operating assets.
Our financial position remains solid, with strong resilience and flexibility, she added.
In 2022, our total R&D spend was $23.4 billion, representing 25.1% of our total revenue – among the highest in Huawei’s history, she mentioned at the press conference.
