Huawei released its 2022 annual report, with global sales revenue of 642.3 billion yuan up 0.9 percent year-on-year and a net profit of RMB 35.6 billion, down 68.7 percent year-on-year.
Huawei’s 2022 R&D investment reached 161.5 billion RMB, accounting for 25.1 percent of annual revenue, with a ten-year cumulative investment of more than 977.3 billion RMB in R&D expenses. As of December 31, 2022, Huawei had a total of about 207,000 employees, with R&D employees accounting for about 55.4% of the total number of employees (about 114,000).
Meng Wanzhou, Vice Chairman, Chairman-in-Office and Chief Financial Officer of Huawei, said, “In 2022, Huawei will spend a total of RMB 161.5 billion on R&D, with an R&D expense ratio of 25.1%, which is at an all-time high. Looking to the future, we have pressure and more confidence!”