Huawei 2020 Annual Report - Reaffirms Commitment to Creating Greater value for Customers and Society

Huawei released its Annual Report for 2020. While growth slowed, the company's financial result was largely in line with expectations. Huawei's sales revenue in 2020 was CNY891.4 billion, up 3.8 percent from the previous year, and its net profit was CNY64.6 billion, up 3.2 percent.

Despite the operating problems raised by US sanctions in 2019 and 2020, Huawei has continued to invite KPMG to inspect their financial statements independently and critically. The document produced by KPMG is a standard unmodified audit opinion. No matter the circumstances, Huawei will continue to embrace transparency by disclosing operational data to governments, customers, suppliers, employees, and partners.

Throughout COVID-19 lockdowns, Huawei's carrier company continued to ensure the reliable service of over 1,500 networks in over 170 countries and regions in 2020, helping to promote telework, online learning, and online shopping.

Working with carriers around the world, the company has advanced more than 3,000 5G innovation ventures in more than 20 markets, including coal mining, steel processing, ports, and engineering.

Huawei's enterprise company has been working hard over the last year to develop innovative scenario-based technologies for various industries and to build a digital ecosystem that thrives on collaboration and mutual achievement. Huawei offered technological capabilities and solutions that were crucial in the fight against the virus during the pandemic.

One example is an AI-assisted diagnostic solution based on HUAWEI CLOUD that helped hospitals the world over reduce the burden on their medical infrastructure. Huawei also worked with partners to launch cloud-based online learning platforms for more than 50 million primary and secondary school students.

With the rollout of HarmonyOS and the Huawei Mobile Services (HMS) ecosystem, Huawei's consumer business moved forward with its Seamless AI Life strategy ("1 + 8 + N") to provide consumers with an intelligent experience across all devices and scenarios, focusing on smart office, fitness & health, smart home, easy travel, and entertainment.

All financial statements in the 2020 Annual Report were independently audited by KPMG, an international Big Four accounting firm. To download the 2020 Annual Report, visit https://www.huawei.com/en/annual-report/2020

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