According to the Securities Times, Huawei Investment Holdings Co., Ltd. recently released its first semi-annual financial report on the interbank market. In the first half of 2020 (H1 2020), Huawei achieved operating revenue of 450.7 billion yuan ($ 65.6 billion). This is an annual increase of 13.67%. Over the same period, its net profit amounted to 43.1 billion yuan ($ 6.2 billion), an annual increase of 23.49%. That means Huawei made about $ 35 million in profits every day in the first half of 2020.
Huawei’s operating results for the first half of 2020 show that in the first half of 2020, the company achieved sales revenue of 454 billion yuan ($ 66 billion). This is an annual increase of 13.1% and a net profit margin of 9.2%.
Huawei’s H1 2020 reference card looks great
Huawei Consumer Corporation has the highest revenue of 255.8 billion yuan ($ 36.5 billion). However, transportation and business companies recorded 159.6 billion yuan ($ 22.8 billion) and 36.3 billion yuan ($ 5.1 billion), respectively.
The business results of the Huawei H1 2020 show that the company is doing well despite the numerous bans. Remember that the US did not ban Huawei and they fell asleep. It is also pushing its allies to ban Huawei as well. The Australians and New Zealand have since banned Huawei 5G equipment from their network. The last country to ban Huawei from its 5G network is the United Kingdom
Nevertheless, Huawei seems to be doing well, at least for now. In 2019, the company shipped about 240 million smartphones, a new record high. In April 2020, Huawei overthrew Samsung to become the world’s largest smartphone brand, a position it maintained in May. Huawei is also currently the largest supplier of 5G smartphones in the world. The company was able to achieve all this despite a ban from the US and other allies. Huawei said
“As countries around the world face the COVID-19 pandemic, information and communication technology (ICT) has become not only a critical tool in the fight against the virus, but also an engine of economic recovery. Huawei reiterated its commitment to working with mobile phone companies and industry partners to maintain stable network operations, accelerate digital transformation and support efforts to reduce local outbreaks and reopen local economies.
The complex external environment makes open cooperation and trust in global value chains more important than ever. “Huawei has promised to continue to meet its obligations to customers and suppliers and to survive, move forward and contribute to the global digital economy and technological development, regardless of the future challenges facing the company.”