Huawei's profit in 2022 will drop by 68.7%, Meng Wanzhou will take the rotating chairmanship
Meng Wanzhou, Huawei's chief financial officer, attended a press conference after taking over as the company's rotating chairman on the 31st
Chinese technology giant Huawei announced its 2022 financial report at its Shenzhen headquarters on March 31. Huawei's annual revenue increased only slightly by 0.9%, and its net profit was 35.6 billion yuan, a 68.7% year-on-year drop, a record low. According to the online live broadcast of Huawei's financial report conference, Meng Wanzhou, Huawei's chief financial officer, said at the conference that the overall operating performance "in line with expectations" is mainly due to the decline in overall profits and increased research and development.
At the press conference, Huawei announced for the first time the revenue status of its smart car business, which has attracted much attention. Xu Zhijun, the current rotating chairman, responded to the 6G layout, domestic semiconductor industry and "car manufacturing" issues at the performance meeting. Regarding the expectation for 2023, Xu Zhijun said bluntly, "2023 is a critical year for Huawei's development. It is hoped that revenue and profits will increase compared with 2022, but there are too many uncertainties."
In addition, according to the announcement issued by Huawei, Meng Wanzhou will serve as the company's rotating chairman for a term of six months after Huawei's annual performance is announced this Friday (March 31). Meng Wanzhou reached a deferred prosecution agreement with the U.S. Department of Justice in 2019, and the U.S. revoked the extradition request, allowing Meng Wanzhou, who had been under house arrest in Canada for nearly three years, to successfully return to China.
Editor in charge: Chen Pinjie
Source: https://www.rfa.org/mandarin/Xinwen/1-03312023121438.html