Its sales revenue rounded off at CNY721.2 billion, up 19.5% year-on-year; its net profit reached CNY59.3 billion, up 25.1% year-on-year, the report said.

In 2018, Huawei invested CNY101.5 billion (14.1% of its sales revenue) in R&D, ranking fifth globally in the 2018 EU Industrial R&D Investment Scoreboard. Over the last ten years, Huawei's R&D expenditure has reached more than CNY480 billion.
 
According to official data released by the World Intellectual Property Organization (WIPO), Huawei filed 5,405 patent applications to this organisation in 2018, ranking first among all companies globally.

At the release of its annual report, Guo Ping, Huawei's Rotating Chairman, said "Information communications technology is rapidly working its way into every industry. 
This has triggered a digital, intelligent transformation – the driving force behind our digital economy.”
 
“Through heavy, consistent investment in 5G innovation, alongside large-scale commercial deployment, Huawei is committed to build world's best network connections”, he said.

In its enterprise business, Huawei continuously providing cloud, big data, artificial intelligence (AI), and IoT solutions, as well as a range of products for data centers, all-flash storage, and WiFi. In 2018, the sales revenue of Huawei's enterprise business reached CNY74.4 billion, up 23.8% year-on-year.

In its consumer business, Huawei further increased its share of the global smartphone market and has further enhanced the positioning of its high-end devices. It has also made major breakthroughs in building an intelligent ecosystem for all user scenarios. In 2018, the sales revenue of Huawei's consumer business reached CNY348.9 billion, up 45.1% year-on-year.

Financial statements in the 2018 Annual Report were independently audited by KPMG, an international Big Four accounting firm. To download the 2018 Annual Report, visit www.huawei.com/en/press-events/annual-report/2018