Ken Hu, Huawei's Rotating Chairman delivered a speech at the 2020 Annual Report launching. — Photo courtesy of Huawei
Huawei's sales revenue in 2020 hit CNY891.4 billion (US$135.8 billion), up 3.8 per cent year-on-year, and its net profit reached CNY64.6 billion ($9.8 billion), increasing 3.2 per cent from the same period last year.
The results were released at its 2020 annual report announced on Wednesday. Growth slowed, but the company's business performance was largely in line with forecasts.
The financial statement produced by KPMG is a standard unmodified audit opinion.
In 2020, Huawei's carrier business ensured the stable operations of more than 1,500 networks across more than 170 countries and regions, which helped support telework, online learning, and online shopping throughout COVID-19 lockdowns. Working with carriers around the world, the company moved forward with more than 3,000 5G innovation projects in more than 20 industries like coal mining, steel production, ports, and manufacturing.
Over the past year, Huawei's enterprise business stepped up efforts to develop innovative scenario-based solutions for different industries and create a digital ecosystem.
During the pandemic, Huawei provided technical expertise and solutions that were vital in the fight against the virus. One example is an AI-assisted diagnostic solution based on HUAWEI CLOUD that helped hospitals the world over reduce the burden on their medical infrastructure.
With the rollout of HarmonyOS and the Huawei Mobile Services (HMS) ecosystem, Huawei's consumer business moved forward with its Seamless AI Life strategy to provide consumers with an intelligent experience across all devices and scenarios, focusing on smart office, fitness and health, smart home, easy travel, and entertainment.
"Over the past year we've held strong in the face of adversity," said Ken Hu, Huawei's Rotating Chairman. "We've kept innovating to create value for our customers, to help fight the pandemic, and to support both economic recovery and social progress around the world. We also took this opportunity to further enhance our operations, leading to a performance that was largely in line with forecasts.
"We will continue to work closely with our customers and partners to support social progress, economic growth, and sustainable development." — VNS