Huawei spent more than 110 billion yuan on research and development in the first three quarters, an increase of 8.241 billion yuan over the same period last year.

CTOnews.com, Oct. 30, according to the official website of Shanghai Clearing House, Huawei recently released its three-quarter report for 2022. In the first three quarters, Huawei achieved revenue of 441.141 billion yuan and net profit of 23.927 billion yuan.

According to the report, Huawei spent 110.581 billion yuan on research and development in the first three quarters, an increase of 8.241 billion yuan from 102.34 billion yuan in the same period last year. CTOnews.com learned that Huawei has invested 845 billion yuan in research and development in the past 10 years.

Xu Zhijun, chairman of Huawei, previously said: "the overall operating results are in line with expectations, the downward trend of terminal business continues to slow, and the ICT infrastructure business has maintained steady growth. Huawei will continue to attract talents, continue to invest in research and development, continue to enhance the competitiveness of products, and create value for customers and society."

Huawei Investment Holdings Limited's profit statement shows revenue of 1.697 billion yuan, compared with 1.734 billion yuan last year, and a net profit of 77.814 million yuan, compared with a net loss of 271 million yuan last year.