Huawei Investment & Holding released Q1 2021 business results with 150.57 billion yuan operating income and 16.85 billion yuan of net profit

Today, Huawei Investment & Holding has released its business results for the first quarter of 2021. In the Q1 of 2021, the firm’s income was 150.57 billion yuan with a net profit of 16.85 billion yuan.

In Q1 of 2020, the company generated 180.614 billion yuan in revenue and recorded a profit of 13.304 billion yuan. Comparing the results of Q1 of 2021 and Q1 2020, it shows a slight decline in the growth rate but increases in net profit.

The main reason behind this fall off the pandemic crown over the globe as well as US false allegation on Huawei that restrict the American companies to supply core components.

According to the previous income report for the first quarter of 2020, Huawei recorded a 39% year-on-year quarterly increase and an 8% net profit margin increase.

In 2020, the Asia-Pacific region’s revenue outside of China decrease 8.7% to RMB 64.4 billion. Moreover, Europe, the Middle East, and Africa fell 12.2% to RMB 180.8 billion.

(Via – ithome)

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