Founded in 1987, Huawei is a leading global provider of information and communications

       
07
Five-Year Financial Highlights
2020
2019
2018
2017
2016
(USD Million) (CNY Million)
(CNY Million)
Revenue
136,717
891,368
858,833
721,202
603,621
521,574
Operating profit
11,120
72,501
77,835
73,287
56,384
47,515
Operating margin
8.1%
8.1%
9.1%
10.2%
9.3%
9.1%
Net profit
9,916
64,649
62,656
59,345
47,455
37,052
Cash flow from 
  operating activities
5,402
35,218
91,384
74,659
96,336
49,218
Cash and short-term  
 investments
54,812
357,366
371,040
265,857
199,943
145,653
Working capital
45,870
299,062
257,638
170,864
118,503
116,231
Total assets
134,491
876,854
858,661
665,792
505,225
443,634
Total borrowings
21,751
141,811
112,162
69,941
39,925
44,799
Equity
50,678
330,408
295,537
233,065
175,616
140,133
Liability ratio
62.3%
62.3%
65.6%
65.0%
65.2%
68.4%
Note: Converted into United States dollars (“USD”) using the closing rate at the end of 2020 of USD1.00 = CNY6.5198.
CAGR: 14%
Revenue
521,574
858,833
891,368
603,621
721,202
CNY Million
0
100,000
200,000
300,000
400,000
500,000
600,000
700,000
800,000
900,000
CAGR: 11%
Operating profit
47,515
56,384
73,287
77,835
72,501
CNY Million
0
10,000
20,000
30,000
40,000
50,000
60,000
70,000
80,000
CAGR: (8)%
Cash flow from 
operating activities
49,218
96,336
74,659
91,384
35,218
CNY Million
0
20,000
40,000
60,000
80,000
100,000
120,000
16 17 18 19
20
16 17 18 19
20
16 17 18 19
20

---

08
       
Huawei Investment & Holding Co., Ltd.
Message from the Chairman
While greater challenges might still lie 
ahead, Huawei is committed to open 
collaboration and global operations, and 
will continue to work with our global 
partners to cultivate open industry 
ecosystems. Together, we will drive 
advancements in technology, promote 
industry development, and create greater 
value for our customers and the global 
community.
2020 was marked by external pressures the likes 
of which we have never seen before. On top of an 
already complicated international environment, 
we faced an untold number of challenges from 
the COVID-19 pandemic. But we made it through. 
Working together, we ensured business continuity and 
timely delivery for our customers, and wrapped up 
2020 with business running smoothly.
I’d like to take a moment to thank our customers 
and consumers for their ongoing trust, as well as our 
partners for their tremendous support.
When COVID-19 first hit, we took swift action to 
contain and prevent the spread of the virus. Our 
first priority was to ensure the safety and well-being 
of our employees, and then to resume operations 
in a systematic and responsible way. Despite the 
pandemic, our employees in over 100 countries and 
regions have been working closely with our partners 
to guarantee stable network operations.
I’d like to thank each and every one of our employees 
for their dedication, and their families for their 
unfailing support. My special thanks go to our 
frontline employees and their families. Your hard work 
has carried the company through this difficult time.
The future may yet prove to be more challenging, but 
we are confident in our long-term prospects.
Staying the course towards 
solid growth

---

2020 Annual Report
 
       
09
For one, digital technology and intelligence are 
pushing the digital economy into a new phase of 
development, which will create huge opportunities for 
the ICT industry.
More importantly, our customers and partners 
around the world have placed their trust in us. 
We have maintained our strategic focus to ensure 
the company’s survival, and continue to serve our 
customers and strengthen collaboration with our