Huawei's H1 revenue up 3.1%, generating 310.9 billion yuan

Chinese tech giant Huawei generated 310.9 billion yuan (US$43.4 billion) in revenue in the first half of this year, up 3.1 percent year on year, according to the business results announced on Friday.

The net profit margin was 15 percent in the first six months, Huawei said, adding that the overall performance was in line with forecast.

The company's information and communication technology (ICT) infrastructure business contributed 167.2 billion yuan, while its consumer business contributed 103.5 billion yuan to the revenue.

Meng Wanzhou, the company's rotating chairwoman, said Huawei invested heavily in foundational technologies to harness digitalization, intelligence, and decarbonization trends, focusing on creating value for its customers and partners.

In 2022, the company generated total revenue of 642.3 billion yuan, up from 636.8 billion yuan the previous year. The R&D expenditure rose to 161.5 billion yuan in 2022, accounting for 25.1 percent of the company's total revenue.

Based in Shenzhen, Huawei is a leading global provider of ICT infrastructure and smart devices.