华为上半年营收4270亿元，同比增长3.94%，净利润同比下降32%

Core Viewpoint - Huawei's financial performance in the first half of the year shows a revenue increase but a significant decline in net profit, indicating challenges in profitability despite stable revenue growth [1][3]. Financial Performance Summary - Revenue for the first half of the year reached 427 billion yuan, representing a year-on-year growth of 3.94% [1][3]. - Net profit amounted to 37.1 billion yuan, reflecting a year-on-year decrease of 32% [1][3]. - Operating profit was reported at 44.8 billion yuan, down from 59.6 billion yuan in the previous year [4]. Cost and Expense Analysis - Operating costs increased to 224.3 billion yuan from 205.2 billion yuan year-on-year [4]. - Research and development expenses rose to 97 billion yuan, compared to 88.9 billion yuan in the previous year [4]. - Financial expenses also saw an increase, with interest expenses reported at 4 billion yuan, down from 6.8 billion yuan [4]. Asset Quality and Stability - The company maintained asset quality, with no significant changes in accounting policies or estimates, and asset pledges and seizures did not exceed 50% of the audited net assets from the previous year [5]. - There were no external guarantees that could adversely affect the financial situation, reducing contingent liability risks [6]. Organizational Changes and Strategic Focus - Huawei Cloud has responded to rumors of organizational optimization and personnel adjustments, emphasizing a focus on AI and computing industries [6]. - The restructuring indicates a strategic shift away from non-core and peripheral businesses, suggesting a long-term transformation rather than a short-term contraction [6].