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Huawei will unveil its 1.5 MW supercharger on April 22, designed for heavy-duty trucks, capable of charging at 20 kWh per minute and fully charging a vehicle in 15 minutes. This announcement comes as Zeekr plans to launch its 1.2 MW supercharger, while BYD has introduced a 1,000 kW fast charger. Additionally, Huawei showcased an unmanned EV charging robotic arm that can autonomously connect to vehicles.
European markets opened lower amid ongoing market uncertainty, with analysts indicating that the equity drawdown probability has not peaked. Factors contributing to this outlook include a weakening macroeconomic backdrop, declines in key tech stocks, and a risk appetite indicator suggesting no strong buying opportunity has emerged.Investors are closely monitoring upcoming economic data, including the Chicago Business Barometer and U.S. employment reports, while crude oil and gold prices showed slight increases. Asian markets also closed lower, reflecting broader global market trends.
GAC Group has partnered with Huawei to develop electric vehicles, with the first model set to launch next year priced at RMB 300,000 ($41,370). Huawei will define the product positioning while GAC retains decision-making authority. Additionally, they plan to introduce vehicles under GAC’s Xiangwang lineup featuring a Level 3 semi-autonomous driving system, starting with the S7 SUV launched at RMB 169,800.
Huawei reported a 28% decline in profits for 2024, with net profits at 62.6 billion yuan ($8.6 billion), down from 87 billion yuan in 2023, amid global economic uncertainty and weak domestic consumption. Despite this, revenue grew by 22% year-on-year to 862.1 billion yuan, the highest since 2020. The company remains committed to quality and innovation, launching its first smartphone with a fully homegrown operating system and the world’s first triple-folding phone.
Huawei Technologies Co reported its first quarterly net loss in years, posting a deficit of about 300 million yuan despite a 9.5% revenue increase to approximately 276 billion yuan. The loss is attributed to heavy investments in research and development, particularly in electric vehicles and chips, amid ongoing US sanctions. While the consumer business grew 38% and the smart driving solutions became profitable, the company faces challenges as the US pressures European carriers to limit business with Huawei.
Market volatility is escalating as the US prepares for new reciprocal tariff announcements, leading to a 3.9% drop in the Nikkei and a 1% rise in gold prices. Investors are seeking safety, reflected in falling German Bund and US Treasury yields, while key economic indicators are set to be released soon.As global economic tensions rise, the implications of impending tariff talks and mixed currency positions are under scrutiny, prompting investors to assess whether these fluctuations are temporary or indicative of a broader economic realignment.
Huawei's profits fell 28% in 2024, with net earnings at 62.6 billion yuan (US$8.6 billion), down from 87 billion yuan in 2023, amid economic uncertainty and weak domestic consumption. Despite this decline, revenue rose 22% year-on-year to 862.1 billion yuan, the highest since 2020. The company continues to innovate, launching its first smartphone with a fully homegrown operating system and the world’s first triple-folding phone.
Huawei reported a 28% drop in profits last year, totaling 62.6 billion yuan ($8.6 billion), amid international economic uncertainty and domestic consumption challenges. Despite US sanctions limiting access to technology, the company achieved a 22% revenue increase, reaching 862.1 billion yuan, its highest since 2020. Huawei continues to innovate, launching its first smartphone with a homegrown operating system and the world’s first triple-folding phone, while facing scrutiny over alleged bribery in the EU.
Huawei's net profit fell 28% to CNY62.6 billion in 2024, influenced by a one-off gain from the previous year, despite a 22.4% revenue increase to CNY862.1 billion, driven by strong consumer and automotive sales. The consumer group revenue surged 38.3% to CNY339 billion, while automotive-related sales skyrocketed over fourfold to CNY26.4 billion. The company continues to adapt to US trade restrictions by focusing on electric vehicles and smart manufacturing, with R&D spending rising to CNY179.7 billion, representing 20.8% of total revenue.
Huawei Technologies experienced a 28% profit decline in 2024, totaling 62.6 billion yuan ($8.63 billion), despite a robust 22.4% revenue increase to 862.1 billion yuan, the highest since 2020. The company invested heavily in R&D, focusing on innovation amid US sanctions, which impacted profits due to the absence of income from the Honor unit sale.The information and communication technology sector grew by 4.9%, while the consumer sector, including smartphones, surged by 38%. Notably, Huawei's automotive solutions became profitable, with revenue increasing fourfold to 26.4 billion yuan, underscoring the company's commitment to self-reliance and technological advancement in a challenging geopolitical landscape.
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