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Huawei will continue to fight and “will never give up” according to the new CEO

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In the 2022 Annual Business Report, Huawei CFO and next rotating chairwoman Meng Wanzhou said that Huawei will continue to operate in the toughest difficulties and the company will never give up. Meng will take over Huawei as rotating chairwoman on April 1, as it will be her first term as Huawei’s top leader.

Meng said that “as long as Huawei continues to fight, every minute of our time and every effort will not be wasted, we will never give up.” Huawei claims that its operation is now stable and the company has achieved global sales revenue of 642.3 billion yuan, while net profit has been 35.6 billion yuan. Of this, Huawei’s carrier business, enterprise business and device business had sales revenue of 284 billion yuan, 133.2 billion yuan and 214.5 billion yuan, respectively. In 2022, R&D invested 161.5 billion yuan, accounting for 25.1% of all company revenue in 2022. On the other hand, the cumulative expenditure on R&D invested in ten years will exceed 977.3 billion yuan. Xu Zhijun, Huawei’s current rotating chairman, said the coming year and the year after are critical for Huawei.

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