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About Huawei

Financial Highlights

Five-Year Financial Highlights

	2025		2024	2023	2022	2021
	(USD Million)	(CNY Million)	(CNY Million)
Revenue	126,018	880,941	862,072	704,174	642,338	636,807
Operating profit	13,867	96,937	79,361	104,401	42,216	121,412
Operating margin	11.0%	11.0%	9.2%	14.8%	6.6%	19.1%
Net profit	9,732	68,036	62,574	86,950	35,562	113,718
Cash flow from operating activities	18,222	127,384	88,417	69,807	17,797	59,670
Cash and short-term investments	51,702	361,426	372,232	475,317	373,452	416,334
Working capital	43,523	304,252	319,178	421,662	344,938	376,923
Total assets	190,961	1,334,930	1,290,149	1,263,597	1,063,804	982,971
Total borrowings	34,229	239,284	264,871	308,414	197,144	175,100
Equity	85,847	600,120	544,619	507,568	437,076	414,652
Liability ratio	55.0%	55.0%	57.8%	59.8%	58.9%	57.8%
Note: These financial figures are from the consolidated financial statements prepared in accordance with IFRS Accounting Standards. CNY amounts are converted into United States dollars ("USD") using the closing rate at the end of 2025 of USD1.00 = CNY6.9906.

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