Huawei has released its 2020 annual report, which was independently audited by KPMG. According to the report, growth slowed but the company’s business performance was largely in line with forecast, as its sales revenue in 2020 rounded off at CNY891.4 billion, up 3.8 per cent year-on-year, and its net profit reached CNY64.6 billion, up 3.2er cent year-on-year.
Analysing the report, the company’s Rotating Chairman, Ken Hu, said despite operational difficulties brought about by United States’ sanctions in 2019 and 2020, Huawei continued to invite KPMG to independently and objectively audit its financial statements, adding that the document produced by KPMG is a standard unmodified audit opinion. “No matter the circumstances, we will continue to embrace transparency by disclosing operational data to governments, customers, suppliers, employees, and partners,” Hu said.
The report explained that in 2020, Huawei’s carrier business continued to ensure the stable operations of more than 1,500 networks across more than 170 countries and regions, which helped support telework, online learning, and online shopping throughout COVID-19 lockdowns. Working together with carriers around the world, the company helped provide a superior connected experience and moved forward with more than 3,000 5G innovation projects in over 20 industries like coal mining, steel production, ports, and manufacturing.
“Over the past year, Huawei’s enterprise business stepped up efforts to develop innovative scenario-based solutions for different industries and create a digital ecosystem that thrives on joint creation and shared success. During the pandemic, Huawei provided technical expertise and solutions that were vital in the fight against the virus. 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,” the report said.
With the rollout of HarmonyOS and the Huawei Mobile Services (HMS) ecosystem, Huawei’s consumer business moved forward with its Seamless AI Life strategy to provide consumers with an intelligent experience across all devices and scenarios, focusing on smart office, fitness and health, smart home, easy travel, and entertainment.
