Huawei releases annual report of 2018

1 April, 2019 12:00 AM printer

Huawei, world's leading ICT solutions provider, has recently released its annual report of 2018 stating strong business growth.

Its sales revenue rounded off at CNY721.2 billion, up 19.5 percent year-on-year; its net profit reached CNY59.3 billion, up 25.1 percent year-on-year, the report said, reports UNB.

In 2018, Huawei invested CNY101.5 billion (14.1 percent of its sales revenue) in R&D, ranking fifth globally in the 2018 EU Industrial R&D Investment Scoreboard. Over the last ten years, Huawei's R&D expenditure has reached more than CNY480 billion.

According to official data released by the World Intellectual Property Organization (WIPO), Huawei filed 5,405 patent applications to this organisation in 2018, ranking first among all companies globally.

At the release of its annual report, Guo Ping, Huawei's Rotating Chairman, said "Information communications technology is rapidly working its way into every industry.