Huawei posts 75.9% net profit growth for 2021, but revenue falls 28.6%
Published: Mar 28, 2022 04:45 PM
Meng Wanzhou

Meng Wanzhou

Chinese telecoms equipment giant Huawei on Monday reported that its 2021 revenue reached 636.8 billion yuan ($99.97b), down 28.6 percent year-on-year; however, net profit surged 75.9 percent year-on-year to 113.7 billion yuan.

“The results are in line with expectation,” Huawei CFO Meng Wanzhou said at a press conference in Shenzhen, South China’s Guangdong Province on Monday, noting that she has been studying to catch up with changes around the world and in the country.

It was Meng’s first high-profile public appearance since returning from Canada in September, after being detained by Canadian authorities for nearly three years at the behest of the US government. 

Despite Meng’s release, Huawei continues to face severe US sanctions and has been making various adjustments to cope with the impact of the sanctions, including shifting toward software.