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华为度过最艰难的时候了? | 看财报
Sou Hu Cai Jing·2025-04-01 00:52

Core Insights - Huawei's 2024 annual report shows a global sales revenue of 862.1 billion RMB, with a net profit of 62.6 billion RMB, aligning with expectations [1] - The company invested 179.7 billion RMB in R&D, accounting for 20.8% of total revenue, with cumulative R&D expenses exceeding 1.249 trillion RMB over the past decade [1] Financial Performance - Revenue increased by 22.4% year-on-year, marking the largest annual growth since U.S. sanctions, approaching the historical peak of 891.3 billion RMB in 2020 [2][3] - Operating profit was 79.4 billion RMB, a 63% increase compared to the adjusted figure of 48.5 billion RMB from 2023, excluding the impact of the sale of Honor [3] - Operating cash flow for 2024 was 88.4 billion RMB, up 26.7% from 2023 [3] Regional Revenue Breakdown - Revenue from China reached 615.3 billion RMB, a 30.5% increase, while other regions showed slight growth [4] - The Middle East and Africa contributed 148.4 billion RMB, up 2.1%, and the Americas saw a 2.7% increase to 36.3 billion RMB [4] Business Segment Performance - ICT infrastructure business grew by 4.9%, while terminal business surged by 38.3% [5][6] - Cloud computing revenue increased by 8.5%, and digital energy business grew by 24.4% [5][6] - The smart automotive solutions segment experienced a remarkable growth of 474.4% [5] Strategic Developments - Huawei's ICT infrastructure is influenced by major clients, with a projected 9.12% decrease in capital expenditure from Chinese telecom operators for 2025 [6][7] - The company is focusing on AI-driven investments and has expanded its 5G network coverage to 126 countries, with over 2.1 billion global 5G users [7][8] Cloud Computing Growth - Huawei Cloud achieved sales revenue of 68.8 billion RMB, a 24.4% increase, with overseas public cloud revenue growing over 50% [11] - The Ascend AI cloud services saw a sixfold increase, reflecting the rising demand for AI capabilities [11] Terminal Business Recovery - The terminal business contributed significantly to overall revenue growth, with a recovery in the Chinese market leading to a resurgence in smartphone sales [13] - The HarmonyOS 5 upgrade and the expansion of the Harmony ecosystem have been pivotal in regaining market share [13][14] Smart Automotive Solutions - The smart automotive solutions segment has entered a high-growth phase, with over 15 collaborative models launched and significant sales achievements [15][16] - The business has achieved profitability for the first time, indicating a successful market strategy [15] Digital Energy Initiatives - Huawei's digital energy division focuses on renewable energy and electric transportation, contributing to significant reductions in carbon emissions [17][18] - The company has deployed over 50,000 ultra-fast charging stations across various regions, enhancing its infrastructure for electric vehicles [18]