[Shenzhen, China, April 21, 2020] Huawei today announced its business results for the first quarter of 2020. In Q1 of this year, Huawei generated CNY182.2 billion in revenue, an increase of 1.4% year-on-year. The company’s net profit margin in Q1 2020 was 7.3%[1].
As COVID-19 continues to spread around the world, Huawei is taking proactive measures to ensure the safety of its employees. The company and its supplier network are working together to address the tough challenges facing production and resume operations. Huawei’s business is continuing as usual and its overall business results in Q1 2020 are in line with expectations.
Networks are a lifeline for people from all walks of life during this public health crisis, so ensuring normal network operations is of paramount importance. Huawei is doing everything in its capabilities to help carriers ensure stable and secure network operations. Together, we are working to meet the network demand created by social distancing as people switch to telecommuting, distance education, and e-commerce for daily necessities.
Since the outbreak, Huawei and its partners have rapidly launched many 5G- and AI-powered medical applications. We are using our expertise in communications technologies to help fight the pandemic and save more lives. The AI-assisted coronavirus diagnosis solution cuts CT scan review times from 12 minutes down to 2, helping doctors improve their diagnostic efficiency. 5G-enabled remote video consultation helps mitigate shortages of frontline experts and increases the efficiency of diagnosis and treatment of critical patients. AI-powered thermal imaging devices can take temperatures, increasing the efficiency of infection prevention and control in public places. In addition, Huawei has been doing its best to get masks, test kits, and other protective supplies to the countries and organizations that need them.
A seed that survives the storm will sprout and then blossom. Even though it is impossible to know when the tides of this pandemic will turn, we at Huawei believe that this challenge will be overcome by standing together.
[1] The financial data disclosed here are unaudited figures compiled in compliance with the International Financial Reporting Standards; exchange rate at the end of March 2020: US$1 = CNY7.0915 (source: external agencies)
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