Huawei’s Intelligent Automotive Solution Business Unit nabs 1-billion-yuan revenue in H1 2023

Beijing (Gasgoo)- Chinese ICT giant Huawei recently unveiled its operating performance for the first half of 2023, indicating a "sound overall operation that meets expectations."  

Photo credit: Huawei

The data reveals that in the first half of the year, Huawei achieved sales revenue of 310.9 billion yuan, marking a 3.1% year-on-year growth, with a net profit margin of 15%. Notably, the net profit margin for the same period last year was a mere 5%, amounting to approximately 15.08 billion yuan. Based on this calculation, Huawei's net profit for the first half of this year surged threefold to 46.635 billion yuan.

Breaking down the figures by business segment, Huawei's H1 revenue for ICT infrastructure reached 167.2 billion yuan, while terminal business revenue hit 103.5 billion yuan. The cloud computing division reported revenue of 24.1 billion yuan, and the digital energy sector contributed 24.2 billion yuan. Notably, revenue from Huawei's Intelligent Automotive Solution Business Unit reached 1 billion yuan in the first six months of 2023. 

Huawei's Acting Chairman, Meng Wanzhou, highlighted the company's strategic focus on digitization, intelligence, and low-carbon development, emphasizing substantial investments in core technologies. Throughout the first half of 2023, the ICT infrastructure business maintained robust performance, terminal revenue showed growth, and the digital energy and cloud businesses exhibited strong expansion. The Intelligent Automotive Solution Business Unit's competitive edge in incremental components remained on an upward trajectory.

According to Huawei's previously disclosed 2022 annual report, the company achieved an annual revenue of 642.3 billion yuan, with the Intelligent Automotive Solution Business Unit contributing a mere 2.077 billion yuan in revenue. In the context of 2022's data, this year's H1 performance for Huawei's Intelligent Automotive Solution Business Unit appears to have made minimal progress, representing just 0.3% of total revenue.

It's important to note that Huawei has made substantial investments in this business sector. In reference to its efforts in the automotive field, the CEO of Huawei’s Intelligent Automotive Solution Business Unit, Richard Yu, has repeatedly emphasized an annual direct R&D investment exceeding 10 billion yuan, resulting in a cumulative investment of 20.6 billion yuan.