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Chinese kit vendor Huawei’s Rotating Chairman, Ken Hu, has said the firm is ‘back on track’ and expects to wrap up the year with over CNY700 billion in revenue.
January 2, 2024
The firm called out its ICT, devices, and cloud divisions as performing particularly well during 2023 as part of a ‘new year message’, in which he also said ‘shared conviction has helped us break the siege’ – a reference no doubt referring to the US led sanctions against the firm which kicked off in 2020.
“After years of hard work, we've managed to weather the storm,” said Hu. “And now we're pretty much back on track. In 2023, we expect to wrap up the year with over 700 billion yuan in revenue. Our ICT infrastructure business has remained solid, and results from our device business surpassed expectations. Both our digital power and cloud businesses are growing steadily, and our intelligent automotive solutions have become significantly more competitive.
“On behalf of the company, I'd like to thank our customers for your ongoing trust and support. Thanks to our partners across the value chain for standing with us through thick and thin. And I'd also like to thank every member of the Huawei team for embracing the struggle – for never giving up. And, of course, we can't forget our loved ones, everyone who has provided their quiet and unfailing support along the way. Thank you all. Shared conviction has helped us break the siege and forge ahead together.”
Looking forward to next year, the message ended on a somewhat emotive note: “The more we experience and reflect, the stronger we become. In the past, we didn't give up in the face of mounting pressure, nor did we allow ourselves to get carried away in a swell of growing praise. The road ahead is still bumpy, but history favours those with firm beliefs.
“We need to continue to forge ahead and unite as many people as possible. Together, we can overcome any challenge. As long as we keep our feet on the ground, we will move ahead steadily towards greater success. Great people create great times, and we're laying the groundwork for more heroes to emerge and shine.”
While Huawei’s financial announcements tend to be sparse on detail, there’s certainly evidence the firm had a decent 2023. In October, it announced that for first three quarters it generated CNY456.6 billion in revenue, which represented a 2.4% annual increase, and boasted of a net profit margin of 16%.
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