Huawei Annual Business Report 2020: Posted 891.4 billion yuan earning and 3.8% growth

On March 31, 2021, Huawei announced its annual earnings report for the year 2020, in which the company showcased its business records as well as profit for different businesses division.

As per the data revealed by the company, the earnings of Huawei reached 891.4 billion yuan with a year-on-year growth of 3.8% in the global market and the net profit was 64.6 billion yuan with a year-on-year increase of 3.2%. The CFO (cash flow from operating activities) was 35.2 billion yuan.

Huawei said, despite the difficulties put by US sanctions in 2019 and 2020, Huawei has continued to invite KPMG to independently and objectively audit our financial statements.

The document produced by KPMG is a standard unmodified audit opinion. No matter the circumstances, we will continue to embrace transparency by disclosing operational data to governments, customers, suppliers, employees, and partners.

At the conference, the Vice-Chairman and the rotating chairman of Huawei, Hu Houkun claimed that HMS (Huawei mobile services) has become a very popular mobile application ecosystem in 2020, obtaining a third place in the world.

In 2020, Huawei’s carrier business continued to ensure that stable operations of more than 1500 networks across more than 170 countries and regions, which helped support telework, online learning, and online shopping throughout COVID 19 lockdown.

Huawei

Working together with carriers around the world, the company helped provide a superior connected experience and moved forward with more than 3,000 5G innovation projects in over 20 industries like coal mining, steel production, ports, and manufacturing.

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 pressure on their medical infrastructure.

Huawei also said that it worked with partners to launch cloud-based online learning platforms for more than 50 million primary and secondary school students.

Furthermore, the Chinese tech giant reminded everyone about its self-developed operating system, HarmonyOS, and the app ecosystem, Huawei Mobile Services (HMS). Saying that Huawei’s consumer Business moved forward with its Seamless AI Life strategy (1+8+N) to provide consumers with an AI experience across all devices and scenarios, focusing on smart office, fitness & 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 the forecast.

“We will continue to work closely with our customers and partners to support social progress, economic growth, and sustainable development.”