On March 29, Huawei stated in its 2023 annual financial report that the company’s overall operational performance is in line with expectations. In 2023, Huawei’s global sales revenue reached RMB 704.2 billion ($97.45 billion), representing a year-on-year increase of 9.63%, the largest annual growth rate since 2019. The net profit surged to RMB 87 billion ($12.04 billion), up by 144.5% year-on-year. Huawei’s R&D (research and development) investment for 2023 totaled RMB 164.7 billion ($22.79 billion), with cumulative R&D spending exceeding RMB 1.11 trillion ($150 billion) over the past decade. “We’ve been through a lot over the past few years, but through one challenge after another, we’ve managed to grow,” said Ken Hu, Huawei’s Rotating Chairman. [Huawei]

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