Huawei’s financial report for the nine months ending September 2020 – the gradual revelation of the impact of US sanctions
News unit EMGblog.com : Huawei on October 23 of this year (November 2, 2019) presented its financial report for three quarters Prime 2020 published. These unaudited results, prepared in accordance with international financial reporting standards, show that Huawei earned 671.3 billion yuan in the nine-month period from January to September this year, which, taking into account the exchange rate of each US dollar equal to 6.8101 Chinese yuan at the end of September 2020, is about 98.57 billion dollars will mature; A figure that shows a 9.9% increase compared to the same period last year. The net profit margin of the company was also 8% in this period and in this way, the Chinese super company achieved the expected results to a large extent.
This is due to the global pandemic of COVID-19 and the pressure caused by American sanctions, company managers had avoided predicting their performance to a large extent, and now they have officially spoken about the success in realizing their desired vision. Huawei in this report to provide information about income and margin The nine-month net profit was enough and it did not say anything about the statistics related to the performance of any of its divisions.
In the third quarter report of last year, the Chinese company was proud of the 26% increase in the supply of smartphones and the growth of its own mobile ecosystem. known as Google US sanctions have been introduced as an alternative to it.
The big Chinese company that on Thursday October 22 (Aban 1) from the flagship series Mate 40 unveiled, according to the usual procedure in any of the quarterly reports of this year The sale of smartphones itself has not been mentioned. As one of Huawei’s spokespersons, in response to a question about not providing these statistics in this year’s third quarter report, merely pointed out that the company “will release additional details related to its business performance at the appropriate time.”