Huawei's 2020 sales revenue up 3.8% year-on-year to RMB 891.4 billion

March 31, 2021 CV TECH INC

Huawei’s 2020 sales revenue rose 3.8 percent year-on-year to RMB 891.4 billion ($136 billion) and net profit rose 3.2 percent year-on-year to RMB 64.6 billion, according to figures released by the company today.


Huawei said the growth rate of the results, although slowing down, basically achieved expectations.


Huawei’s consumer business reported revenue of 482.9 billion yuan in FY2020, up 3.3% year-on-year.


Revenue from Asia Pacific ex-China declined 8.7% to RMB 64.4 billion in 2020.


Huawei’s cash flow from operating activities in 2020 was down 61.5% to RMB 35.2 billion.


“This year, we defied the odds and remained committed to continuing to create value for our customers with innovative ICT technologies,” said Hu Houkun, Huawei’s rotating chairman.


“We will continue to work openly with our customers and partners to drive sustainable social, economic, and environmental development,” he said.


In 2020, Huawei has joined hands with operators to launch more than 3,000 innovative 5G project practices in more than 20 industries, including coal mining, steel, ports, and manufacturing, the company said.


KPMG, the accounting firm, issued an independent audit opinion on the financial report for the annual report, Huawei said.


Huawei plans to spend $220 million to support developers this year



Huawei's 2020 sales revenue up 3.8% year-on-year to RMB 891.4 billion-CnTechPost


Huawei's 2020 sales revenue up 3.8% year-on-year to RMB 891.4 billion-CnTechPost


(Hu Houkun, Huawei’s rotating chairman.)