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Huawei Investment & Holding (HUAWEI) investor relations material

Huawei Investment & Holding H2 2024 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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H2 2024 earnings summary31 Mar, 2025

Executive summary

  • 2024 revenue reached CNY862.1 billion, up 22.4% year-over-year, with net profit at CNY62.6 billion, down 28% year-over-year.

  • All major business segments grew, with Consumer, Cloud Computing, Digital Power, and Intelligent Automotive showing strong momentum.

  • R&D investment hit CNY179.7 billion, 20.8% of revenue, supporting innovation in AI, cloud, and intelligent automotive.

  • HarmonyOS ecosystem surpassed 1 billion devices, and intelligent automotive solutions turned profitable for the first time.

  • Performance was in line with forecasts, despite global economic and geopolitical challenges.

Financial highlights

  • Revenue: CNY862,072 million (+22.4% YoY); Net profit: CNY62,574 million (-28% YoY); Operating profit: CNY79,361 million (-24% YoY).

  • Gross margin: 44.4% (down 1.8pp YoY); Operating margin: 9.2% (down 5.6pp YoY).

  • Cash flow from operating activities: CNY88,417 million (+26.7% YoY).

  • R&D expenses: CNY179,687 million (+9.1% YoY), 20.8% of revenue.

  • Total assets: CNY1,290,149 million (+2.1% YoY); Equity: CNY544,619 million (+7.3% YoY).

Outlook and guidance

  • Continued focus on high-quality growth, innovation, and ecosystem development across all business lines.

  • Strategic investment in AI, cloud, and foundational technologies to drive future competitiveness.

  • Expectation of ongoing global economic headwinds, but confident in resilience and long-term growth.

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