[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%.
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.
Note: exchange rate at the end of March 2020: US$1 = CNY7.0915 (source: external agencies)
Huawei is a leading global provider of information and communications technology (ICT) infrastructure and smart devices. With integrated solutions across four key domains – telecom networks, IT, smart devices, and cloud services – Huawei is committed to bringing digital to every person, home and organisation for a fully connected, intelligent world.
Huawei's end-to-end portfolio of products, solutions and services are both competitive and secure. Through open collaboration with ecosystem partners, Huawei creates lasting value for our customers, working to empower people, enrich home life, and inspire innovation in organizations of all shapes and sizes.
At Huawei, innovation focuses on customer needs. Huawei invests heavily in basic research, concentrating on technological breakthroughs that drive the world forward. Huawei has more than 194,000 employees and operates in over 170 countries and regions. Founded in 1987, Huawei is a private company fully owned by its employees.
In Europe, Huawei currently employs over 13,300 staff and runs two regional offices and 23 R&D sites. So far, Huawei has established 230 technical cooperation projects and has partnered with over 150 universities across Europe.