According to Quick Technology News on November 1, Huawei Investment Holding Co., Ltd. released the consolidated and parent company financial statements for the third quarter of 2024 on the Shanghai Clearing House, showing that sales in the first three quarters amounted to 585.9 billion yuan, compared to 452.26 billion yuan in the same period last year.

Profits were 62.87 billion yuan, compared to 72.89 billion yuan in the same period last year.

According to previous announcements, Huawei achieved sales revenue of 417.5 billion yuan in the first half of 2024, a year-on-year increase of 34.3%, with a net profit margin of 13.2%.

Overall, Huawei's operating performance in the first three quarters was similar to that in the first half of this year. While Huawei's revenue saw significant growth in the first half, the net profit margin declined slightly.

Huawei continues to maintain an exceptionally high level of R&D investment, which is constantly increasing. R&D expenses in the first three quarters amounted to 127.412 billion yuan, a year-on-year increase of 10.80%, accounting for 21.75% of revenue.

It is understood that Huawei's revenue growth is mainly attributed to the rapid recovery of its consumer business and the rapid development of its smart car, Huawei Cloud, and digital energy businesses.

Taking the mobile phone market as an example, according to Canalys data, Huawei's domestic mobile phone shipments in the third quarter of 2024 reached 10.8 million units, a year-on-year increase of 24%, with its market share rising to 16%, firmly securing second place in China.

Yu Chengdong, Executive Director of Huawei and Chairman of the Terminal BG, announced at the previous HarmonyOS Night event that shipments of Huawei flagship smartphones equipped with HarmonyOS in the first three quarters of 2024 increased by 71% year-on-year, with shipments of the Pura 70 series increasing by 154% year-on-year.

From all aspects, Huawei has fully emerged from its darkest hour and is making a strong comeback, destined to shine even brighter in the future than ever before.