Huawei's revenue in 2023 reached 704.2 billion yuan, a year-on-year increase of 9.63%

Huawei released its 2023 annual report today, which showed that its overall business performance met expectations, achieving global sales revenue of RMB 704.2 billion, a year-on-year increase of 9.63%, the largest annual growth since 2019. Its net profit in 2023 increased by 144.5% year-on-year, reaching RMB 87 billion. ICT infrastructure business remains stable, terminal business performance meets expectations, cloud computing and digital energy business has achieved good growth, and intelligent vehicle solutions business has begun to enter the stage of scale delivery. Huawei attaches great importance to research and innovation. In 2023, its R&D investment reached RMB 164.7 billion, accounting for 23.4% of the annual revenue. Over the past decade, the cumulative R&D expenses invested exceeded RMB 1110 billion. (Sina)