Core Insights - Huawei's 2024 annual report reveals a sales revenue of approximately 862 billion yuan, a year-on-year increase of 22.4%, but operating profit decreased by nearly 24% to about 79.4 billion yuan, with an operating profit margin of 9.2%, down 5.6 percentage points year-on-year [2][4] - The report indicates a significant focus on the automotive sector, with the establishment of a new company, Shenzhen Yingwang Intelligent Technology Co., Ltd., and an 80% stake held by Huawei [2][9] Group 1: Financial Performance - Huawei's total revenue for the previous year was approximately 862 billion yuan, with a 22.4% year-on-year growth [2] - Operating profit was about 79.4 billion yuan, reflecting a nearly 24% decline, and the operating profit margin fell to 9.2% [2] - Research and development expenses reached nearly 179.7 billion yuan, a 9.1% increase, while sales and management expenses grew by nearly 11% to about 131.8 billion yuan [2] Group 2: Business Segments - The ICT infrastructure business remains Huawei's largest revenue source, generating close to 370 billion yuan, accounting for approximately 43% of total revenue, but only grew by about 5% year-on-year [4] - The terminal business saw a revenue of about 339 billion yuan, a significant year-on-year increase of 38.3%, narrowing the gap with the ICT business to approximately 31 billion yuan [4][5] - In the Chinese market, Huawei's revenue reached nearly 615.3 billion yuan, making up 71.4% of total revenue, with a strong focus on high-end smartphones [5] Group 3: Automotive Business - The smart automotive solutions business generated revenue of 26.35 billion yuan, a year-on-year increase of 474%, marking its first year of profitability [6][8] - The delivery volume of Huawei's smart components exceeded 23 million units, a nearly sevenfold increase, with 15 cooperative vehicle models launched by the end of 2024 [7] - The establishment of Yingwang company indicates an acceleration in Huawei's automotive business commercialization, with significant investments from partners [9] Group 4: Market Trends and Future Outlook - The competitive landscape in the high-end smartphone market is intensifying, with Huawei's market share at 16.6%, showing a year-on-year growth of about 50% [5][6] - The upcoming launch of the Pura 80 series is expected to target the high-end market, with enhancements in imaging technology [6] - AI is highlighted as a major opportunity for growth across multiple sectors, including smartphones and automotive, with a focus on foundational technology development [10]
孟晚舟定调AI为“最大机会”:从手机到汽车,华为2024年报上演高端化攻防战
Hua Xia Shi Bao·2025-03-31 13:25