Huawei Pakistan releases annual report for the company

Huawei Pakistan reportedly released their annual reports of the company which demonstrated the total investment and profit margins with overall growth that was that was observed in the company for the year 2022. Mr. Shahzad Rasheed, CEO Huawei Pakistan, during a ceremony of announcement of company annual report, said that Huawei Pakistan is considered in one of the largest tax paying and most job creating company of the country. He said, “Huawei is utilising around 25 percent of its total revenues on research and development (R&D) to spur growth through innovation and in Pakistan it has provided 2,500 jobs in last six months period.

Throughout the year 2022, Huawei reported steady operations with a total revenue of 29.37 billion dollars in net profits. 1 The annual RnD expenditure of the company reported to be 23 billion dollars, representing 25 percent of the company’s annual revenue. Huawei has brought their RnD expenditure to a total of 140 billion dollars in a span of ten years.

Huawei’s rotating chairman, Eric Xu, was also a part of the ceremony. While addressing to the attendees during a press conference, he said, “In 2022, a challenging external environment and non-market factors continued to take a toll on Huawei’s operations. In the midst of this storm, we kept racing ahead, doing everything in our power to maintain business continuity and serve our customers. We also went to great lengths to grow the harvest – generating a steady stream of revenue to sustain our survival and lay the groundwork for future development.”

CFO Sabrina Meng, stated that , “Despite substantial pressure in 2022, our overall business results were in line with forecast. At the end of 2022, our liability ratio was 58.9% and our net cash balance was USD25.35 billion. In addition, our balance of total assets reached 0.14 trillion USD, largely composed of current assets such as cash, short-term investments, and operating assets. Our financial position remains solid, with strong resilience and flexibility. In 2022, our total R&D spend was USD23.22 billion, representing 25.1% of our total revenue – among the highest in Huawei’s history. In times of pressure, we press on – with confidence.”

The company believes in the prospect of growing together and has proven to be an example of the fact that openness and collaboration leads to mutual success. Huawei plans to continue opening up its platform capabilities across HarmonyOS, Kunpeng, Ascend and cloud portfolio, mainly focusing on an improvement in the developing experience and creating a supportive environment for their partners on all fronts. This will ensure a greater value for their customers as well.