Huawei Unveils 2012 Numbers
BEIJING -- Huawei, a leading global information and communications technology (ICT) solutions provider, today released its 2012 financial performance results. Cathy Meng, Huawei Chief Financial Officer, said the company achieved effective growth in 2012 by focusing on customers, streamlining management and improving efficiency. Ms. Meng is positive about the industry's future growth prospects. Huawei expects its 2012 global sales revenues to reach CNY 220.2 billion, an 8% year-on-year increase, with a net profit of CNY 15.4 billion, a 33% increase from the previous year. The earnings disclosure today is part of Huawei's ongoing commitment as a private employee-owned company to be more open and transparent with stakeholders. The 2012 results audited by KPMG will be outlined in the company's annual report, which will be released in April. Ms. Meng explained that Huawei's success in 2012 can be attributed to maximizing value for the customer. "We insist on strictly controlling G&A expenses and allocate more resources to bolster the front line and ensure continuous improvements on customer delivery and service quality," said Ms. Meng. "In addition, Huawei continued its ongoing management transformation, raising combined operating efficiency with an integrated financial services program." Continuous innovation focusing on customer needs is also an important driving force for Huawei's growth. The company has cumulatively invested CNY 120 billion in R&D over the past 10 years, including a CNY 29.9 billion investment in 2012, accounting for more than 13% of the year's revenue. Huawei Technologies Co. Ltd.