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In 2024, the entire team at Huawei banded together to tackle a wide range of external challenges, while further improving product quality, operations quality, and operational efficiency. Our performance was in line with forecast. We'd like to thank our customers around the world for your ongoing trust. Our thanks also go to our suppliers, partners, and the developer community for working together with us, and to consumers for your affirmation and support. And of course, we want to thank the entire Huawei team for all your hard work, and your families and loved ones for their unwavering support.
Meng Wanzhou
Rotating Chairwoman

The intelligent world is approaching fast, creating incredible opportunities and challenges. As always, we will maintain strategic focus and keep building up our core competitive edge. We are working hard to establish our competitive advantages in different business domains and bring digital to every person, home and organization for a fully connected, intelligent world.
Liang Hua
Chairman of the Board
Our overall performance was in line with forecast.
| 2024 | 2023 | 2022 | 2021 | 2020 | ||
|---|---|---|---|---|---|---|
| (USD Million) | (CNY Million) | (CNY Million) | ||||
| Revenue | 118,162 | 862,072 | 704,174 | 642,338 | 636,807 | 891,368 |
| Operating profit | 10,878 | 79,361 | 104,401 | 42,216 | 121,412 | 72,501 |
| Operating margin | 9.2% | 9.2% | 14.8% | 6.6% | 19.1% | 8.1% |
| Net profit | 8,577 | 62,574 | 86,950 | 35,562 | 113,718 | 64,649 |
| Cash flow from operating activities | 12,119 | 88,417 | 69,807 | 17,797 | 59,670 | 35,218 |
| Cash and short-term investments | 51,021 | 372,232 | 475,317 | 373,452 | 416,334 | 357,366 |
| Working capital | 43,749 | 319,178 | 421,662 | 344,938 | 376,923 | 299,062 |
| Total assets | 176,837 | 1,290,149 | 1,263,597 | 1,063,804 | 982,971 | 876,854 |
| Total borrowings | 36,305 | 264,871 | 308,414 | 197,144 | 175,100 | 141,811 |
| Equity | 74,649 | 544,619 | 507,568 | 437,076 | 414,652 | 330,408 |
| Liability ratio | 57.8% | 57.8% | 59.8% | 58.9% | 57.8% | 62.3% |
Note: These financial figures are from the consolidated financial statements prepared in accordance with IFRS Accounting Standards. CNY amounts are converted into United States dollars ("USD") using the closing rate at the end of 2024 of USD1.00 = CNY7.2957. | ||||||
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| (CNY Million) | 2024 | 2023 | YoY | |||
|---|---|---|---|---|---|---|
| ICT Infrastructure | 369,903 | 352,756 | 4.9% | |||
| Consumer | 339,006 | 245,134 | 38.3% | |||
| Cloud Computing | 38,523 | 35,514 | 8.5% | |||
| Digital Power | 68,678 | 55,229 | 24.4% | |||
| Intelligent Automotive Solution | 26,353 | 4,588 | 474.4% | |||
| Other | 19,609 | 10,953 | 79.0% | |||
| Total | 862,072 | 704,174 | 22.4% | |||
Note: During 2024, our revenue derived from the cloud computing business, including revenue from other Huawei segments, amounted to CNY68,801 million. | ||||||
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| (CNY Million) | 2024 | 2023 | YoY |
|---|---|---|---|
| China | 615,264 | 471,303 | 30.5% |
| EMEA | 148,355 | 145,343 | 2.1% |
| Asia Pacific | 43,306 | 41,041 | 5.5% |
| Americas | 36,301 | 35,362 | 2.7% |
| Other | 18,846 | 11,125 | 69.4% |
| Total | 862,072 | 704,174 | 22.4% |
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Every year, Huawei invests over 10% of its sales revenue into R&D.
In 2024, our total R&D spending reached CNY179.7 billion, representing 20.8% of our total revenue.
Our total R&D investment over the last decade now exceeds CNY1.249 trillion.
On December 31, 2024, 113,000 employees (about 54.1% of our workforce) worked in R&D.
Through years of sustained innovation in fundamental domains, Huawei has become one of the world's largest patent holders, currently holding 150,000+ active granted patents.
In the connectivity domain, we managed to overcome cyclical downturns in industry investment, maintaining solid business results. With 10 years of preparation in the computing domain, we were able to seize new opportunities in AI and achieve substantial growth. Our devices are now back in the fast lane, and we are making historic breakthroughs in HarmonyOS ecosystem development. We continued to optimize our business mix for cloud computing, and our digital power kept forging ahead, placing quality before all else. Our intelligent automotive solutions turned a profit in 2024 for the first time.
Huawei is committed to using technological innovation to find new solutions to the sustainability challenges facing humanity.
TECH4ALL:Since the launch of our TECH4ALL digital inclusion initiative in 2019, we have worked closely with global and local partners in four key areas: education, environment, health, and development. We aim to enable an inclusive and sustainable world using digital technologies.
Our TECH4ALL education programs have been implemented in more than 850 schools worldwide, benefiting over 510,000 people, with a focus on K–12 teachers and students, unemployed young people, senior citizens, and rural and remote communities.
Huawei's digital technologies have improved the efficiency of biodiversity conservation and the sustainable use and management of natural resources in 58 of the world's protected areas.
Our device products offer accessibility features for people with visual or hearing impairments, benefiting more than 8 million users every month.
Huawei's ICT solutions have brought over 120 million people in remote and rural areas across more than 80 countries into the digital world.
Taking responsibility to build trust: Huawei guarantees that its commitment to cyber security will never be outweighed by the consideration of commercial interests, and continues to invest and remain transparent in this area. We have worked to improve our software engineering capabilities and practices, build resilient networks, develop trustworthy and high-quality products, and support stable network operations.
Huawei has been awarded more than 600 security and privacy certificates, giving our customers internationally recognized security assurances.
We promptly and effectively handled over 25,000 requests from personal data subjects to protect their rights.
We conducted over 80 internal inspections and audits worldwide to ensure that our governance system works effectively and continues to improve.
Huawei provided rapid response and communications support for over 300 natural disasters and major events worldwide.
Contributing to a clean, efficient, low-carbon, and circular economy: Huawei aims to continuously explore the optimal way to build a low-carbon, circular economy and develop innovative solutions that make our own value chain greener. As part of these efforts, we have integrated requirements including compliance with environmental laws and regulations, energy and resource efficiency, and environmental benefits into our business activities, such as R&D, operations, procurement, manufacturing, and supply chain.
Huawei's digital power solutions have helped customers generate 1.4113 trillion kWh of green power, driving the transition to renewable energy.
The average energy efficiency of Huawei's main products in 2024 was 3 times as high as in 2019 (base year).
Huawei used more than 3 billion kWh of clean energy in its own operations.
Nearly 1 million devices have extended their lifespan through our trade-in program.
Collaborating for the common good: Huawei is committed to operating with integrity and complying with applicable laws and regulations. We value employee development and help employees realize their full potential. We conduct sustainability due diligence on our global supply chain and actively contribute to the communities we operate in. Our goal is to work with all industry partners to build a healthy and harmonious business ecosystem.
We welcome talent from around the world and our employees are from 166 countries and regions.
Huawei employees spent an average of 65.5 hours in training in 2024.
Huawei ICT Academy covers more than 110 countries and regions and has trained over 1.3 million students.
Huawei assessed the sustainability performance of more than 1,600 suppliers, which made up over 90% of our procurement spending.
We advocate openness and collaboration, and are working to help others succeed. We are working with universities, developers, and partners to build ecosystems.
Together with education institutions, we have launched the Intelligent Base, an industry-academia collaboration program. We are working with top universities in China to build centers of excellence and hubs that focus on innovation in science and education. We also released the Huawei Developer Advocate Program.
We are integrating technologies such as Kunpeng, Ascend, HarmonyOS, and Huawei Cloud into classroom teaching and experiments. Our support for universities also includes collaboration on cutting-edge technologies, funding for innovation topics, and hosting professional competitions. These initiatives have had an impact on more than 6,000 teachers and benefited over 600,000 students, helping build a sustainable talent pool for ecosystem and ICT industry development.
We have developed easy-to-use development standards, optimized toolchains, acceleration libraries, and development kits, and opened up more than 130,000 APIs.
We have also expanded our developer support team and improved mechanisms for responding to developer requirements, providing faster resolutions to issues.
We provide developers with a free Elastic Cloud Server (ESC) to help them work more efficiently. We continue to enable developers through a rich array of learning resources, activities, and competitions. In 2024, we developed more than 2,500 courses that attracted 1.16 million participants, carried out over 300 on-site activities and over 1,200 online activities, and held 12 flagship competitions.
By the end of 2024, more than 12 million developers have joined Huawei's ecosystems.
We continue to increase incentives for ecosystem partners through programs such as the Shining Star Program, Huawei Cloud Developer Program, Kunpeng Partner Program, and Ascend Partner Program. We have assigned several thousand experts to support partners in application development. We also provide multiple forms of support for ecosystem partners, including promotion, marketing, business opportunities, and business support, helping them to both engage with the ecosystem and benefit from it.
By the end of 2024, the ecosystems for domains like Kunpeng, Ascend, and Huawei Cloud have attracted more than 48,700 partners, developed over 41,300 innovative applications, and incubated 38 foundation models and over 160 high-performance operators. These achievements have helped accelerate the digital and intelligent transformation of industries and are providing more options for customers.
More than 20,000 HarmonyOS apps and atomic services have been released, covering 18 vertical domains and nearly all aspects of everyday life.
Quality is a central part of Huawei's strategy and we insist on succeeding through quality.
In 2024, we achieved many breakthroughs in quality.
Together, we deliver quality products and services to keep earning customer loyalty and trust.
Combined, these improvements have helped us develop digital and intelligent quality management capabilities and succeed through quality, giving us an advantage in insights, decision making, and action.
These future-focused mechanisms create an upward spiral of ongoing improvement.
Leveraging New Technologies to Build a Secure Digital and Intelligent World Together
In the past 30-plus years, Huawei has worked with carriers to build over 1,500 networks and helped millions of enterprises go digital. In addition, we have shipped tens of millions of sets of intelligent automotive components, and HarmonyOS is now running on over one billion devices. Whether for connectivity or devices, we have always maintained a solid track record in security. At Huawei, we believe that cyber security and privacy protection are the cornerstones of the digital and intelligent world. We strive to tackle the challenges and seize the opportunities that accompany technological transformations through managerial improvement, technological innovation, and open collaboration. We work hard to hone our competitive edge in security, take concrete steps to manage related risks, and work alongside our customers, suppliers, and partners to strengthen cyber security and privacy protection capabilities. Through these actions, we are committed to creating a better life for all in the future digital and intelligent world.
