Huawei (HUAWEI) H2 2025 earnings summary

Executive summary

• Achieved CNY880.9 billion in revenue for 2025, up 2.2% year-over-year, with net profit rising 8.7% to CNY68.0 billion.

• Maintained strategic focus on high-quality growth, innovation, and ecosystem development across all business segments.

• Significant R&D investment at 21.8% of revenue, supporting advances in AI, cloud, digital power, and intelligent automotive solutions.

• Strengthened global presence, with 70% of revenue from China and notable growth in EMEA and Asia Pacific.

Financial highlights

• Revenue: CNY880,941 million (+2.2% YoY); Net profit: CNY68,036 million (+8.7% YoY).

• Operating profit: CNY96,937 million (+22.1% YoY); Operating margin: 11.0% (up from 9.2%).

• Gross profit margin improved to 46.3% from 44.4% YoY.

• Cash flow from operating activities: CNY127,384 million (+44.1% YoY).

• R&D expenses: CNY192,310 million (21.8% of revenue).

• Total assets: CNY1,334,930 million (+3.5% YoY); Equity: CNY600,120 million (+10.2% YoY).

Outlook and guidance

• Continued focus on AI, cloud, digital power, and intelligent automotive as growth drivers.

• Plans to further invest in R&D and ecosystem development, especially in AI and open-source platforms.

• Expectation of stable global carrier market capex and ongoing digital transformation across industries.