Huawei releases 2020 annual report

Philip Clement, Abuja

Huawei has released its 2020 Annual Report which indicated slowed growth, while the company’s business performance was largely in line with forecast.

Also, Huawei’s sales revenue in 2020 rounded off at CNY891.4 billion, up 3.8% year-on-year, and its net profit reached CNY64.6 billion, up 3.2% year-on-year.

Despite operational difficulties brought about by US sanctions in 2019 and 2020, Huawei continued to invite KPMG to independently and objectively audit our financial statements.

According to Huawei, “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,”.

“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,” Huawei said.

“Over the past year we’ve held strong in the face of adversity,” said Ken Hu, Huawei’s Rotating Chairman.

He added that “We’ve kept innovating to create value for our customers, to help fight the pandemic, and to support both economic recovery and social progress around the world.

We also took this opportunity to further enhance our operations, leading to a performance that was largely in line with forecast.

“We will continue to work closely with our customers and partners to support social progress, economic growth, and sustainable development.”