华为，上半年业绩出炉！

Core Insights - Huawei's revenue for the first half of 2025 reached 427.04 billion yuan, a year-on-year increase of 3.95%, while net profit fell to 37.20 billion yuan, a decline of 32% [2] - The company invested 96.95 billion yuan in R&D, representing a 9.04% increase and accounting for 22.7% of its revenue [2] Financial Performance - As of the end of June, Huawei's total assets amounted to 12.51 trillion yuan, with total liabilities of 7.12 trillion yuan, resulting in a debt-to-asset ratio of 56.9% [3] - The company's cash and cash equivalents stood at 1.81 trillion yuan, with a net cash flow from operating activities of 31.18 billion yuan [3] Organizational Changes - Huawei announced significant organizational restructuring within its cloud business unit, focusing on core teams in product, public cloud services, and R&D, potentially affecting thousands of employees [3] - The restructuring aims to enhance collaboration between software and hardware, innovate architecture, and allocate more resources to the AI and computing industries [3] Market Position - In the smartphone sector, Huawei regained the top position in the Chinese market with a shipment of 12.50 million units in Q2 2025, despite a 4.1% year-on-year decline in overall smartphone shipments in China [4] Automotive Business - In the automotive sector, Huawei transferred assets from its automotive business unit to Shenzhen Yingwang Intelligent Technology Co., Ltd. during the first half of the year [5]