Huawei generates 310b yuan of revenue in H1

Huawei Technologies Co said on Friday that it generated 310.9 billion yuan ($42.8 billion) in revenue in the first half of 2023 with a year-on-year increase of 3.1 percent and a net profit margin of 15 percent.

Specifically, the company's information and communications technology infrastructure business contributed 167.2 billion yuan, its consumer business 103.5 billion yuan, its cloud business 24.1 billion yuan, its digital power business 24.2 billion yuan, and its intelligent automotive solution business 1 billion yuan.

Meng Wanzhou, Huawei's rotating chairwoman, said: "Huawei has been investing heavily in foundational technologies to harness trends in digitalization, intelligence and decarbonization, focusing on creating value for our customers and partners."

"In the first half of 2023, our ICT infrastructure business remained solid and our consumer business achieved growth. Our digital power and cloud businesses both experienced strong growth and our new components for intelligent connected vehicles continue to gain competitiveness," Meng said.