Huawei finds 15 pc net profit margin in 1st half of 2023

Huawei has announced its business results for the first half of 2023 this week in a press release on Sunday. In this half year, it has generated CNY310.9 billion revenue that matches with its forecast.

The revenue reflects a year-on-year increase of 3.1 per cent and a net profit margin of 15 per cent. The company’s ICT infrastructure business contributed CNY167.2 billion, its consumer business CNY103.5 billion, its cloud business CNY24.1 billion, its digital power business CNY24.2 billion and its intelligent automotive solution (IAS) business CNY1 billion, said the press release.

“I’d like to thank our customers and partners for their ongoing support,” said Sabrina Meng, Huawei’s rotating chairwoman.

“I’d also like to thank the entire Huawei team for its solidarity and dedication. Huawei has been investing heavily in foundational technologies to harness trends in digitalisation, intelligence, and decarbonisation, focusing on creating value for our customers and partners. In the first half of 2023, our ICT infrastructure business remained solid, and our consumer business achieved growth. Our digital power and cloud businesses both experienced strong growth, and our new components for intelligent connected vehicles continue to gain competitiveness,” he added.