Contents
5Financial Highlights
6The Year
9Message from the Company
11Our Vision, Mission and Strategy
12Five Driving Forces of Fast Growth
24Our Performance in Business
33The Future
34Corporate Citizenship
35Financial Report
2Huawei Technologies Annual Report 2004
About Huawei Technologies
Established in 1988 and headquartered in Shenzhen, China, Huawei Technologies specializes
in the research and development, production and marketing of telecom equipment, providing customized network solutions in different telecom fields. Huawei is now the largest telecom
vendor in China and is quickly becoming a leading global player. It has provided telecom
products and solutions for over 300 operators worldwide and 22 of the world’s top 50 operators
are using its products and solutions. Huawei focuses on such areas as 3G, NGN, xDSL, optical
network and data communications. It has 24,000 employees, 48% of which are engaged in
R&D. In 2004, Huawei’s contract sales reached USD5.58 billion.
3
=Huawei Technologies Annual Report 2004
Everyday, nearly
1 billion people
all over the world
are communicating
through Huawei’s
products and solutions.
4Huawei Technologies Annual Report 2004
5
=Huawei Technologies Annual Report 2004Financial Highlights
Note: (*) Excluding discontinuing https://www.doczj.com/doc/826870738.html,D in millions
Year Ended December 31
2004200320022001(*)2000Revenue
3,8272,6942,1282,2901,933Net Income
624384108258345Cash Flow From Operations
396385311204255Operating Profit Margin
18%19%10%17%24%Return on Net Assets
31%23%7%20%47%
HUAWEI TECHNOLOGIES CORPORATION
and Subsidiary Companies
6
Huawei Technologies Annual Report 2004
The Year
Feb
Huawei established a joint
venture with Siemens to ofter TD-
SCDMA
Both parties set up a joint venture
specializing in the development,
sales and services of TD-SCDMA
technologies and products to
boost TD-SCDMA commercialization.
Over USD100 million was invested in
the joint venture, 51% of which
was contributed by Siemens and
49% by Huawei.
Apr
For the first time, China domestic
high-end routers begin to serve
the national backbone networks
of China Telecom on a large scale
Huawei’s IP core router series NE5000
and NE80 were applied on a large
scale. The Terabit core router NE5000
claimed a 100% market share in
building two super national backbone
nodes for Guangzhou, China. And
the NE80 claimed a 75% market
share in the new construction project.
Both the NE5000 and NE80 also are
serving as integral parts of the
ChinaNet national backbone network
and have become dominant data
communication products in the
network of China Telecom.
Jun
China Mobile Selected Huawei to
exclusively contract its softswitch-
based private IP network
T elecom service over IP network is an
important concept change for global
telecom operators to prepare for the
coming NGN and 3G era. This IP
network is currently the world largest
mobile softswitch bearer network in
the world.
Successful completion of phase-1
UMTS network project for Etisalat
On 31 May 2004, the phase-1
3G/UMTS network of Etisalat in UAE
was completed, and the whole set of
UMTS equipment, including wireless
access network, circuit-switched and
packet-switched domain core
network and multimedia color
ringback tone platform, was built into
the network.
Jul
Cisco claim against Huawei
resolved
28 July 2004, Huawei, Cisco and
3COM submitted a “request for
terminating lawsuit” to the East Texas
Court of America. Accordingly, the
court issued a decree to terminate
the lawsuit against Huawei, ending in
a final settlement in the dispute on
intellectual property rights. Each party
undertook their own legal fee,
lawsuit expenses and other related
expenses. This decree stated that
Cisco shall not institute any future
lawsuits regarding this or equivalent
cases. Mr. Chambers, CEO of Cisco,
expressed to the media “Huawei is an
excellent company and good
competitor.”
Aug
Huawei launched the world’s first
large-capacity long-haul G.653-
based optical wavelength division
trunk
Huawei launched the first G.653-based
large-capacity long-haul optical
wavelength division trunk into service
for T elemar – the top fixed network
operator in Latin America. As a result,
Huawei became the sole optical
network equipment supplier to own
and commercially apply such
technology. This G.653-based optic
network extends 1,000km, and spans
many of the major cities in Brazil, it is
now the main transmission trunk that
can meet the service dispatching
requirements of T elemar in the coming
years. Huawei accomplished a single-
band rate of 10G at the C band, and
16-wavelength DWDM transmission.
This project set the record of the single-
band rate of 10G for transmitting a
capacity of 160G on the G.653 fiber
for 1,000km.
Sep
Telekom Malaysia awarded
Huawei UMTS contract
On 28 September, 2004, Huawei won
the UMTS bidding project to help
Telekom Malaysia build its UMTS
network.
Huawei’s project obtained an
enormous export loan from a
foreign bank for the first time
Algeria T elecom Company (borrower)
entered into a loan agreement with the
Paris Bank of France (lender) for credit of
the buyer totalling USD28 million. This
project is under the financial guarantee
of the Algeria National Bank, and the
Huawei Technologies Annual Report 2004telecom equipment is exported by
Huawei to the Algeria T elecom
Company – Algeria’s state owned
operator. The business contract signed
between Huawei and Algeria T elecom
Company is financed 85% by this credit.
As an exporter , Huawei provides, installs
and operates CDMA devices for 80,000users for the borrower – Algeria
T elecom. China Credit Insurance
Company secures an insurance policy to
insure the buyer’s credit .
Oct
EMTEL cooperated with Huawei
to debut the first commercial
UMTS commercial network in
Africa
On 16 October 2004, the first UMTS
commercial telephone call in Africa was
made from EMTEL of Mauritius through
a network built with Huawei’s
products.
Nov
Huawei obtained syndication
Loan of USD360 million
On 12 November 2004, Huawei
concluded an agreement with 29 banks
on a loan of USD360 million. Initiated by
Huawei, the loan solicitation was a
success with a facility of USD360 million,
enjoying an 80% increase from the
originally expected USD200 million, in
the form of subscription. The three-year
term loan and revolving loan will help
Huawei expedite its international market
development. The international bank’s
belief in Huawei’s business model is
exemplified by this loan on credit
without security. The Commonwealth
Bank of Australia, ABN Amro Holding
N.V., Hong Kong and HSBC, and Bank
of China (Hong Kong) were the
initiators in the arrangement, with
Huawei drawing an additional
25 banks from Europe, the Middle East,
Hong Kong, Southeast Asia, Japan and
Chinese Mainland.Dec Huawei’s 3G terminal is available for sale for the first time and Huawei’s data card stands out On 2 December, Huawei’s UMTS data card was availabled and used by Smartone – a retail mobile operator of Hong Kong who debuted the first ever Huawei 3G terminal across the globe.Huawei’s 3G goes to Western Europe to build a nationwide UMTS network for the Netherlands On 8 December 2004, premier Wen Jiabao of China and premier Jan Peter Balkenende of the Netherlands attended the contract signing ceremony for the UMTS 3G project between Holland’s mobile operator Telfort and Huawei to witness the first cooperation in the telecom field between China and the Netherlands.After many years of work in 3G, this event is a breakthrough for UMTS equipment from China to be applied in Europe, the home of GSM and UMTS. This contract covers construction and service for the softswitch-based R4 architecture UMTS core network and base-station.China Development Bank offered Huawei Technologies credit financing of USD10 billion to support its international expansion Beijing, 27 December, 2004 – Huawei and China Developement Bank (CDB), signed a development financing agreement through which CDB will support Huawei’s international expansion with a credit facility of USD10 billion for both Huawei and its customers abroad in the next five years. Mr Chen Yuan,Governor of CDB, and Mr. Ren Zhengfei, CEO of Huawei, attended the signing ceremony.Huawei donated RMB20 million in cash plus RMB20 million worth of emergency communication equipment to four tsunami victim countries Huawei donated communication equipment and cash to Thailand, Sri Lanka, Indonesia and India, victims of the tsunami in Southeast Asia.Huawei also took part in the rescue effort by setting up tsunami rescue teams.Huawei’s Shanghai Research Institute passed CMM 5evaluation On 23 December 2004, the chief evaluator of KPMG authorized by American SEI, Gyan Prakash Rastogi declared that Huawei’s Shanghai Research Institute had obtained the CMM 5 certification.This is Huawei’s fourth CMM5certified software research institute following the India Research Institute,Shenzhen Central Software Department, and Nanjing Research Institute. In 2004, many Huawei research institutes passed the CMM5
certification, which demonstrated Huawei’s international competitiveness in core technologies,top-ranking software development process management, and quality control worldwide.
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The Huawei Training Centre
8Huawei Technologies Annual Report 2004
17 years ago, we entered the information industry which characterized fast change and intense competition. Through our group efforts, we have gradually developed a deep and thorough understanding of information technology and telecom services. We realized this in the form of customized solutions and services to win the trust of our customers. This is why we have been successful.
After the IT bubble experience, we are more acutely aware that the entire information industry is threatened by the conflict between limited demand and limitless supply. Our competitive edge of “quality, service, cost-effectiveness and customer satisfaction” has helped us stand out in the international market in the past few years. Nevertheless, new challenges are imminent. We will continue to generate the innovations that have helped the company consistently progress from its inception, explore new
cooperation model, and achieve a common win-win result in developing with our partners and customers.
Innovation is always an impetus for us to progress. However, we are also strongly aware that this age is characterized by both competition and cooperation. When new large scale opportunities and challenges are expected in the information industry, every enterprise must develop multi-level cooperation with partners and understand customer requirements together, create customer value together, dissolve the market risks, and build a secure commercial system and a win-win development pattern to survive. In recent years, we have partnered with our international peers in many fields to realize a winning situation and share in success, which reflects our willingness for cross-culture cooperation on an agree-to-differ basis.
To grow together in harmony and to complement each other in our differences – this is the wisdom of ancient oriental psychology. We will keep our promise of setting a broad interest community, stage long-term cooperation, co-exist with each other, and grow together.
In this ever-changing world, one thing remains constant –Huawei’s focus on being customer-centred. We will continue to quickly respond to customer requirements, build customer-satisfying networks and provide best-of-breed services that meet customer requirements. We believe that the future is promising, though not without challenges and crises. With our customers and partners, we endeavor to bring better communication services to more people, and help them live a better life.
Executive Management Team
Huawei Technologies Co., Ltd.We believe that the future
is promising, though not
without challenges and crises.
With our customers and partners,
we endeavor to bring better communication services to more people, and help them live a
better life.
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Huawei Technologies Annual Report 2004
=Huawei T echnologies Annual Report 2004
Serving our customers is
the only reason Huawei
exists. Customer demand
is the fundamental
driving force of our
development.
10Huawei Technologies Annual Report 2004
Huawei T echnologies Annual Report 2004
Our Vision
?To enrich life through communication
Our Mission
?To focus on our customers’ challenges and needs by
providing excellent communications network solutions
and services in order to consistently create maximum
value for customers.
Our Strategy
?Serving our customers is the only reason Huawei exists.
Customer demand is the fundamental driving force of
our development.
?High quality, excellent service, low operating costs, and
giving top priority to meet customer requirements to
enhance their competitiveness and profitability.
?Continuously performing management transformation
to realize efficient process-based organizational
operation to ensure high quality end-to-end delivery.
?Developing with our peers in the industry as both
competitors and partners to jointly create a favorable
environment and share the benefits of the value chain.
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Huawei T echnologies Annual Report 2004
=Huawei Technologies Annual Report 2004
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=Huawei Technologies Annual Report 2004
14Huawei Technologies Annual Report 2004Our products have entered 14 developed nations in Europe and North America, including Germany, France, UK, Portugal, U.S.,and Canada; and have been selected by world-renowned operators such as BT, Telefonica, FT, SingTel, AIS, MTN and Telemar.
Through many years of
expansion, Huawei has
continuously elevated its brand
positioning in the industry
across the globe.
?The shipment quantity of Huawei’s
switches ranked No.1 in global
market in three consecutive years
(accounting for 32% of the total
shipment in global market by
Dittberner).
?The number of Huawei intelligent
network subscribers ranked No.1
in global market in 2004 (21.6%
of users by Ovum report).
?Huawei’s NGN ranked No.1 in
global market (24.5% of port
shipment by Dittberner).
?The optical network ranked No.3
in global market (9%, by RHK).
?The broadband products ranked
No.2 in global market (18.5%, by
Dittberner),
?The integrated access products ranked No.
3 in global market (24%, by Infonetics).
?Huawei’s 3G products have entered the
front line of the global market, and have been put into commercial application in UAE, Hong Kong, Mauritius, and Malaysia.
More than 20 pre-commercial exchanges have been set up globally for Huawei’s 3G
products.
No.2 TRANSFORMING MANAGEMENT
No.2 Transforming Management
We consistantly aim at industrial benchmarks and keep improving our everyday work and achievements.
During the growth of our company, we have performed a series of management transformations to keep abreast with international industrial benchmarks. We are cooperating with world-class management and consultancy companies such as IBM, Hay Group, PwC and FhG. In respects to Integrated Production Development (IPD), Integrated Supply Chain (ISC), human resources management, finance management and quality control, we have staged in-depth transformations, introduced industrial best practices, and set up IT platforms.
Through many years of practice, Huawei has
phased in the best-of-breed full-process operation and management, and has maintained balanced development between corporate scale, operation benefits, and capability construction.
Business model: In Huawei’s macro business
model, the production development roadmap is navigated by customer demands, and the objective of enterprise management is to build
a process-based organizational operation. We are cooperating with IBM, Hay Group, KPMG, PwC,
FhG, Mercer, and Gallup etc. to phase in advanced management concepts and harmonious methodology in the industry. We stage systematic transformation in respect to business processes, organization, quality control, human resources, finance, and customer satisfaction, and process-
The Huawei Hotline Services Centre
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=Huawei Technologies Annual Report 2004
based business management systems to create value for customers. Through consistent improvement, we developed our management system in accordance with the best international practices, which has withstood the test of rapid and continuous business growth, commanded the recognition of global customers and partners, and strongly supported the globalization strategy of the company.
Process realignment: On the basis of the core process of the company such as the Marketing Management Process, Integrated Product Development (IPD), Integrated Supply C h a i n(I S C)a n d C u s t o m e r S e r v i c e, complemented by the finance “four unifications”and the human resource (HAY) project, we staged a business process transformation on a full scale, introduced practical industrial benchmarks, and set up a complete IT platform.
Organization transformation: Starting from product line transformation and navigated by the company’s executive management team and our “Strategy and Customer Standing Committee”, we strengthened the decision-making support capability of the Marketing System for understanding customer requirements, strategic direction control, and our business planning. Through effective operation of the Investment Review Board (IRB), marketing management team, product system management team, operation and delivery management team and other supportive teams, we ensured the implementation of Huawei’s general strategy driven by customer requirements.
Quality control and production process: Germany’s FhG helped design Huawei’s production process system, including the 3D warehouse/automatic warehouse and the whole production line layout, thus reducing material movement, shortening the production cycle, and improving the production efficiency and quality.
Human resource management: We set up a human resource team as a powerful cohesive force and work efficiency, developed a consummate human resource system. Through cooperation with HAY, we made progress in evaluating positions, setting up a remuneration framework, regulating that remuneration, and introducing the KPI system. We kept improving the performance
management and introduced the calibre model to improve the
The Huawei Trial-manufacture Centre
16Huawei Technologies Annual Report 2004
17
=Huawei Technologies Annual Report 2004quality of staff recruitment and
development. We set up position
management, remuneration
management, performance
management, competency
management, and staff training
management systems. We also
d e v e l o p e d h i e r a r c h i c a l
performance management systems such as the work reporting
system, PBC system and “last one eliminated” system which are
navigated by customer requirements and measured by
responsibility results, key events and behaviour process.
Financial management: We set up financial services and
monitoring systems, implemented and unified financial
regulations, procedure, codes and monitoring and fulfilled financial
monitoring and management worldwide. We have also set up
the flexible planning budget system, full-process cost management
concept, the Shenzhen Capital Management Center, and the Hong
Kong Capital Management Center. We have established
partnerships with over 20 banks to meet the capital
requirement for the further business development of the
company. The company has accomplished an independent
audit system, and is now constructing a 3-level monitoring
from external audit to internal control and business audit to
minimize the finance risks and operation risks of the company.
Supply chain. We developed the capability of a flexible
supply chain and obtained the comparative competitive edge
of fast, high-quality and cost-effective supply. We formulated
pertinent supply guarantee strategies, built flattened
manufacturing organizations to meet the market demand
efficiently and flexibly; staged the Integrated Supply Chain
(ISC) transformation to ensure implementation of the new
process and systems; and implemented quality engineering technologies to continue to improve supply chain capabilities and customer service levels. We developed partnerships with principal suppliers,enhanced purchase performance management and carried out the supplier certification procedure based on the industrial benchmark TQRDCE.Internal staff shareholding system:We have implemented the internal staff shareholding system. In the help of international human resource consulting firms, we implemented the virtual limited share,virtual share option scheme and MBO virtual share scheme, which enriched our incentive mechanism. The 15 years of experience gained from the internal staff shareholding system helped the company set up a effective long-term staff incentive mechanism, which supports the
long-standing development of the company.
18Huawei Technologies Annual Report 2004No.3 Customer Focus We give top priority to meeting customer requirements. And we mean it. Always.Serving our customers is the only reason Huawei exists. Our development is motivated by the demands of our customers.Since 1999, by grasping the opportunity of continuous construction and network transformation in the Chinese telecom market,
Setting the pace in the Chinese
market
By focusing on the customer requirements
and applying customized solutions to help
customers become more competitive, Huawei
has consolidated its pacesetter position in the
Chinese market and enhanced its market
innovation capability. We have set up the
biggest service network in China, which covers
more than 300 local centers around the
country. This gives us comprehensive and in-
depth insight into the most rapidly developing
and most complex telecom network market in the world. It helps us to provide timely and
excellent services and set up unique service
advantages. This service network is the
foundation for us to better understand the
future customer requirements and competitive
trends of the market, and to provide fast and
relevant personalized services. It helps us
formulate the solutions that meet customer
requirements, gain precedence in new product
development and identify opportunities in
potential markets.we continued to be oriented
t o c u s t o m e r a n d i m p ro v e
customers satisfaction and the
competitiveness of products so
that our market share and
network levels are continuously
enhanced. We have implemented
strategic transformation, changed
the competition pattern, and
gained the leading position in the
Chinese market. Our switching access, optical network and intelligent networks dominate the market, and we have become the second largest data communications equipment supplier.
While customers’ network construction is being realigned and
market competition is becoming more severe, we have stuck to our marketing strategy of “being centered on the market and focussed on customers”. By providing pertinent solutions that deliver more added value and strong support to our customers,we set up long-term win-win relationships. All this has helped us develop stable and efficient marketing methods and patterns in the face of severe international competition.
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=Huawei Technologies Annual Report 2004FOCUS No.3 CUSTOMER Customer focus and high-performance corporate culture:
We adhere to the “customer first” and “good faith” service
cultures, standing closely with our customers. This further
accomplishes long-term win-win situations with customers. We
have built up a professional service team characterized by
dedication and service consciousness, set up a relatively
consummate integrated service platform and developed
professional engineering maintenance and training capabilities.
We have also developed differentiated service advantages in the
international markets. We have done all of this simply by
strengthening the value outlook of “Serving our customers is the
only reason Huawei exists” and enhancing customer service
consciousness in the minds of our staff. By reinforcing the value
evaluation system measured by responsibility results and an
excellent incentive mechanism, all our objectives are driven by
customer requirements. We ensure customer satisfaction through
a series of streamlined organization structures and normative
operation process. As a result, we have developed the customer-oriented high-performance corporate culture and enhanced our core competitive edge.In a customer satisfaction poll
conducted by the third party
consultant, Gallup for the
years 2000-2004 in China,
Huawei is ranked first in
customer satisfaction.
“Good Quality service” has become one of Huawei’s advantages in a severely competitive market: Huawei has set up 80 service offices across the globe so far, 3800 professional service personnel, over 480 service partners,over 7000 certified engineers in partnership,and 44 authorized certified training centers.Meanwhile, in order to pursue a long-term win-win relationship with customers, Huawei phased in fee-based service and professional services to lower the service costs. Service marketing has become a new area for growth and opportunity for Huawei. The accumulated service sale procceeds were USD700 million.
The Huawei Headquarters
No.4 PARTNERSHIPS
No.4 Partnerships Cooperating with our customers, suppliers and the leading players in the industry, we join together to challenge the future through a win-win strategy.
In today’s business environment, it is a trend for industry peers to develop together through cooperation. We are staging the open-door cooperation on a larger scale. On the one hand, we are building more stable partnerships with customers and suppliers, reinforcing strategic cooperation with international and domestic mainstream operators, building up our position in key markets across the globe, strengthening partnerships with key suppliers, and improving the response time and service advantages of the supply chain.
On the other hand, we are specifically building up multi-level cooperation with peers, to jointly establish a future-oriented, coexistent win-win and secure development pattern. These kinds of partnerships will create better value for the world.
In the past few years we have initiated multi-level cooperation in many fields such as technology, production and marketing to co-exist, we have overcome risks together and faced the IT winter together.
We accomplished the business consolidation with Avansys, and sold the power supply services at a price of USD750 million so the company can focus on core telecom services. In the IT winter, we initiated a wide and favourable cooperation pattern around the world.
In addition, we contributed low-end data communication technologies (51% shareholding) to incorporate a joint venture with 3Com (who contributed USD165 million, accounting for a 49% shareholding). As a result, we established and consummated the distribution system, and gained rapid growth in data communication services, which was forecast to increase by 100% in 2004. The joint venture enhanced Huawei’s brand reputation in the world, accumulated experience in capital operation, cultivated personnel, and initiated a new international cooperation pattern for the company.
Also, we have founded a joint venture with Siemens to focus on the research and sales of TD-SCDMA and
also cooperated with Infineon to develop the 3G
mobile phone platform. Additionally, we have
cooperated with TI, Motorola, Agere, Intel, IBM, Sun,
Microsystem, Marconi, NEC, etc.
20Huawei Technologies Annual Report 2004
华为财务分析，四种能力的分析 公司的财务报告如同一个人的健康体检，财务数字表明的是公司的运营状况。只是财务数字比较复杂，不做分析的话，有的情况不是很清楚。 财务报告分析有多种，这要看你需要了解哪些方面了，因为哪种分析都有一定的局限性。其中一种分析方法是比率分析，从中可以分析公司的盈利能力、偿债能力、营运能力和发展能力。 一、盈利能力分析 1、销售毛利率=销售毛利÷销售收入净额×100% =77510÷185176×100% ＝41.86% 【上年度为39.6%】 销售毛利率反映了公司产品的初始获利能力。没有足够大的毛利率便不能形成较大的盈利，无法承受公司对研发费用、管理费用、销售费用、财务费用等期间费用。对工业而言，41.86%的毛利率是相当不错的盈利水平啦，这反映出公司的产品科技含量高，产品要价能力比较强，不是谁想进入这一行就能轻易进入的。公司的成本控制潜力还很大，如果成本控制做得好一些，毛利率还可以提高。 2、销售利润率＝利润总额÷销售收入净额×100% ＝29271÷185176×100% ＝15.81% 【上年度为14.1%】 销售利润率是公司销售的最终获利能力指标。我们公司能达到15.81%的销售利润率还是不错的，这比银行贷款利率高大约1倍（当然，我们应当注意利润总额的形成并不是全由销售收入所产生，它还受到其他业务利润、投资收益、营业外收支等因素影响）。 3、总资产收益率＝（利润总额+利息费用）÷总资产年均余额×100% ＝（利润总额+利息费用）÷〔（期初总资产+期末总资产）/2〕×100% ＝（29271+1833）÷〔（139653+160841）/2〕×100% ＝20.70% 【上年度为15.35%】 这个指标反映公司资产利用的综合效果，即每100元的资产可以为公司带来20.70元的收益，比率越高越好。为何应收账款有这样的好结果呢？不外乎两个原因：（1）加强了财务管理，及时回款水平大有提高；（2）加大了历年应收账款的清理回收力度，“清淤”工作成效显著。 请注意，公司的总资产来源于所有者投入资本和举债两个方面。总资产收益率主要取决于总资产周转速度的快慢和销售利润率的大小，所以我们要加强资产管理，增加销售收入，提高利润水平是王道。 4、净资产收益率＝净利润÷〔（期初净资产+期末净资产）/2〕×100%
华为财务分析，四种能力得分析 公司得财务报告如同一个人得健康体检,财务数字表明得就是公司得运营状况.只就是财务数字比较复杂,不做分析得话，有得情况不就是很清楚。 财务报告分析有多种,这要瞧您需要了解哪些方面了，因为哪种分析都有一定得局限性。其中一种分析方法就是比率分析，从中可以分析公司得盈利能力、偿债能力、营运能力与发展能力。 一、盈利能力分析?１、销售毛利率＝销售毛利÷销售收入净额×１00%?=7７51０÷１8５176×１０0％?＝41、８6% 【上年度为39、6％】?销售毛利率反映了公司产品得初始获利能力。没有足够大得毛利率便不能形成较大得盈利,无法承受公司对研发费用、管理费用、销售费用、财务费用等期间费用。对工业而言，41、8６%得毛利率就是相当不错得盈利水平啦，这反映出公司得产品科技含量高,产品要价能力比较强,不就是谁想进入这一行就能轻易进入得。公司得成本控制潜力还很大,如果成本控制做得好一些，毛利率还可以提高。?２、销售利润率＝利润总额÷销售收入净额×１0０％?＝２９27１÷185１76×1００% ＝１5、81% 【上年度为14、1%】?销售利润率就是公司销售得最终获利能力指标。我们公司能达到１5、81％得销售利润率还就是不错得,这比银行贷款利率高大约1倍（当然，我们应当注意利润总额得形成并不就是全由销售收入所产生，它还受到其她业务利润、投资收益、营业外收支等因素影响）。 3、总资产收益率＝(利润总额＋利息费用)÷总资产年均余额×１00% ＝(利润总额+利息费用）÷〔(期初总资产+期末总资产）/2〕×100％?＝（29271+１833）÷〔（１3９６53+1６084１)/2〕×1０0％ =２0、70% 【上年度为15、35％】 这个指标反映公司资产利用得综合效果，即每10０元得资产可以为公司带来20、７０元得收益，比率越高越好. 为何应收账款有这样得好结果呢？不外乎两个原因：(１）加强了财务管理,及时回款水平大有提高;(2）加大了历年应收账款得清理回收力度，“清淤"工作成效显著。 请注意,公司得总资产来源于所有者投入资本与举债两个方面。总资产收益率主要取决于总资产周转速度得快慢与销售利润率得大小，所以我们要加强资产管理，增加销售收入，提高利润水平就是王道。?4、净资产收益率=净利润÷〔（期初净资产+期末净资产)/2〕×１00%?＝23757÷〔(4３3１6+5５251)／2〕×100％?=４8、20％【上年度为45、25％】?净资产就就是所有者权益,其收益率反映所有者投资得获利能力，该比率越高,说明所有者投资带来得收益越高。?5、资本保值增值率＝期末所有者权益÷期初所有者权益×１００%?=55251÷４3316＝12７、5５％【上年度为11５、65%】?所有者在投入资本时，总就是希望她得投资不仅能够保值,还能够增值，即“钱生钱”，起码能跑赢通胀率，不然投资就缩水了.当然这里需要注意所有者权益不就是因为追加投资所致，而就是由于盈利状况好而致。
华为财务分析，四种能力的分析 公司的财务报告如同一个人的健康体检， 财务数字表明的是公司的运营状况。 只是财务 数字比 较复杂，不做分析的话，有的情况不是很清楚。 财务报告分析有多种，这要看你需要了解哪些方面了， 因为哪种分析都有一定的局限性。 其中一种分析方法是比率分析， 从中可以分析公司的盈利能力、 偿债能力、营运能力和发展 能力。 、盈利能力分析 1、销售毛利率=销售毛利十销售收入净额X 100% =77510 - 185176X 100% =41.86%【上年度为39.6%】 销售毛利率反映了公司产品的初始获利能力。 没有足够大的毛利率便不能形成较大的盈 利，无法承受公司对研发费用、管理费用、销售费用、财务费用等期间费用。对工业而言, 41.86%的毛利率是相当不错的盈利水平啦，这反映出公司的产品科技含量高，产品要价能 力比较强，不是谁想进 入这一行就能轻易进入的。 制做得好一些，毛利率还可以提高。 =29271 - 185176X 100% =15.81%【上年度为14.1%】 销售利润率是公司销售的最终获利能力指标。我们公司能达到 是不错的，这比银行贷款利率高大约 1倍（当然，我们应当注意利润总额的形成并不是全由 销售收入所产生，它还受到其他业务利润、投资收益、营业外收支等因素影响） 3、总资产收益率=（利润总额 +利息费用）十总资产年均余额X 100% =（利润总额+利息费用）+〔（期初总资产+期末总资产）/2〕X 100% =(29271 + 1833) +〔 (139653+160841) /2〕X 100% =20.70%【上年度为15.35%】 这个指标反映公司资产利用的综合效果， 即每100元的资产可以为公司带来 收益，比率越高越好。 为何应收账款有这样的好结果呢？不外乎两个原因: （1）加强了 财务管理，及时回款水平大有提高； （2）加大了历年应收账款的清理回收力度, “清淤”工 作成效显著。 请注意，公司的总资产来源于所有者投入资本和举债两个方面。 总资产收益率主要取决 于总资产周转速度的快慢和销售利润率的大小，所以我们要加强资产管理, 增加销售收入, 提高利润水平是王道。 4、净资产收益率=净利润十〔（期初净资产+期末净资产）/2〕 X 100% =23757 -〔( 43316+55251) /2〕X 100% =48.20% 【上年度为45.25%】 净资产就是所有者权益，其收益率反映所有者投资的获利能力, 该比率越高，说明所有 者投资带来的收益越高。 公司的成本控制潜力还很大，如果成本控 2、销售利润率=利润总额十销售收入净额X 100% 15.81%的销售利润率还 20.70元的
3月30日，华为发布2019年年报，全面披露公司在过去一年的经营业绩。年报显示，华为去年营收达8588亿元人民币，同比增长19.1%;净利润627亿元，同比增长5.6%。华为轮值董事长徐直军表示，2020年将是华为更加艰难的一年，因为公司将全年处于美国“实体清单”下，“2020年华为力争活下来，争取明年还能发年报。”随着手机厂商的年报陆续出炉，新京报将用五张图回顾华为2019年的经营情况，发掘华为在过去一年的高低起伏。 华为2019年报分析 1、2019年营收按季度放缓，下半年受“实体清单”影响明显 从季度增速看，华为2019年的增长呈“前高后低”的态势。在去年5月16日被美国政府列入“实体清单”前，华为上半年营收同比增长23.2%;但下半年华为的营收开始出现放缓，第四季度同比增长只有7.7%。 此外，华为的净利润增速也出现明显放缓，公司从2018年的25.1%下滑至去年的5.6%，营业利润率也从2018年的10.2%下滑至去年的9.1%。 徐直军表示，去年营收增速下降是很容易理解的，去年5月16日华为被纳入美国实体清单后，公司肯定要加大研发力度来“补洞”，同时有大量的供应商突然间不能给华为供货，华为要重构公司的供应链。“我们在这种情况下不可能去追求2018年、2017年的利润率，我们肯定是先把洞补起来，把供应链重构好，然后以生存为第一目标。” 2、消费者业务受“实体清单”影响，2019年手机出货量增速放缓 华为去年消费业务对整体营收的贡献过半，达4673亿元，同比增长34%，这一增速甚至高于2018年，主要得益于华为的智能终端销售多面开花。虽然智能手机出货量的增速下降至16.5%，但华为在PC、平板电脑、智能穿戴设备等领域取得不俗的成绩，其中PC和智能穿戴设备去年的发货量分别同比增长200%和170%。 按照余承东的说法，原本2019年华为有望成为全球最大的手机厂商，不过受“实体清单”影响，华为智能手机业务在海外市场有明显下降。按照徐直军的说法，华为消费者业务在海外市场的销售额至少损失了100亿美元。 3、中国区成增长动力，EMEA以及亚太区受“实体清单”影响 由于“实体清单”的影响，华为在海外市场特别是欧洲地区出现明显的增长放缓。年报显示，华为在EMEA(欧洲、中东以及非洲地区)的营收增速从2018年的24.3%下降至去年的0.7%。此外，华为在亚太地区的营收录得罕见下跌 (-13.9%)，公司称主要受一些国家运营商市场投资周期波动、消费者业务不能使用GMS生态的影响。
华为2020财务报表分析 华为20XX财务报表分析 3月30日，华为发布20XX年年报，全面披露公司在过去一年的经营业绩。年报显示，华为去年营收达8588亿元人民币，同比增长19.1%;净利润627亿元，同比增长5.6%。华为轮值董事长徐直军表示，2020年将是华为更加艰难的一年，因为公司将全年处于美国“实体清单”下，“2020年华为力争活下来，争取明年还能发年报。”随着手机厂商的年报陆续出炉，新京报将用五张图回顾华为20XX年的经营情况，发掘华为在过去一年的高低起伏。 华为20XX年报分析 1、20XX年营收按季度放缓，下半年受“实体清单”影响明显 从季度增速看，华为20XX年的增长呈“前高后低”的态势。在去年5月16日被美国政府列入“实体清单”前，华为上半年营收同比增长23.2%;但下半年华为的营收开始出现放缓，第四季度同比增长只有7.7%。 此外，华为的净利润增速也出现明显放缓，公司从20XX年的25.1%下滑至去年的5.6%，营业利润率也从20XX年的10.2%下滑至去年的9.1%。 徐直军表示，去年营收增速下降是很容易理解的，去年5月16日华为被纳入美国实体清单后，公司肯定要加大研发力度来“补洞”，同时有大量的供应商突然间不能给华为供货，华为要
重构公司的供应链。“我们在这种情况下不可能去追求20XX年、20XX年的利润率，我们肯定是先把洞补起来，把供应链重构好，然后以生存为第一目标。” 2、消费者业务受“实体清单”影响，20XX年手机出货量增速放缓 华为去年消费业务对整体营收的贡献过半，达4673亿元，同比增长34%，这一增速甚至高于20XX年，主要得益于华为的智能终端销售多面开花。虽然智能手机出货量的增速下降至16.5%，但华为在PC、平板电脑、智能穿戴设备等领域取得不俗的成绩，其中PC和智能穿戴设备去年的发货量分别同比增长200%和170%。 按照余承东的说法，原本20XX年华为有望成为全球最大的手机厂商，不过受“实体清单”影响，华为智能手机业务在海外市场有明显下降。按照徐直军的说法，华为消费者业务在海外市场的销售额至少损失了100亿美元。 3、中国区成增长动力，EMEA以及亚太区受“实体清单”影响 由于“实体清单”的影响，华为在海外市场特别是欧洲地区出现明显的增长放缓。年报显示，华为在EMEA(欧洲、中东以及非洲地区)的营收增速从20XX年的24.3%下降至去年的0.7%。此外，华为在亚太地区的营收录得罕见下跌(-13.9%)，公司称主要受一些国家运营商市场投资周期波动、消费者业务不能使用GMS 生态的影响。
华为财务报表分析 华为财务分析，四种能力的分析 公司的财务报告如同一个人的健康体检，财务数字表明的是公司的运营状况。只是财务数字比较复杂，不做分析的话，有的情况不是很清楚。 财务报告分析有多种，这要看你需要了解哪些方面了，因为哪种分析都有一定的局限性。其中一种分析方法是比率分析，从中可以分析公司的盈利能力、偿债能力、营运能力和发展能力。 一、盈利能力分析 1、销售毛利率=销售毛利?销售收入净额×100% =77510?185176×100% ,41.86% 【上年度为39.6%】 销售毛利率反映了公司产品的初始获利能力。没有足够大的毛利率便不能形成较大的盈利，无法承受公司对研发费用、管理费用、销售费用、财务费用等期间费用。对工业而言，41.86%的毛利率是相当不错的盈利水平啦，这反映出公司的产品科技含量高，产品要价能力比较强，不是谁想进入这一行就能轻易进入的。公司的成本控制潜力还很大，如果成本控制做得好一些，毛利率还可以提高。 2、销售利润率,利润总额?销售收入净额×100% ,29271?185176×100% ,15.81% 【上年度为14.1%】 销售利润率是公司销售的最终获利能力指标。我们公司能达到15.81%的销售利润率还是不错的，这比银行贷款利率高大约1倍(当然，我们应当注意利润总额的形成并不是全由销售收入所产生，它还受到其他业务利润、投资收益、营业外收支等因素影响)。
3、总资产收益率,(利润总额+利息费用)?总资产年均余额×100% ,(利润总额+利息费用)?〔(期初总资产+期末总资产)/2〕×100% ,(29271+1833)?〔(139653+160841)/2〕×100% ,20.70% 【上年度为15.35%】 这个指标反映公司资产利用的综合效果，即每100元的资产可以为公司带来20.70元的收益，比率越高越好。为何应收账款有这样的好结果呢,不外乎两个原因:(1)加强了财务管理，及时回款水平大有提高;(2)加大了历年应收账款的清理回收力度，“清淤”工作成效显著。 请注意，公司的总资产来源于所有者投入资本和举债两个方面。总资产收益率主要取决于总资产周转速度的快慢和销售利润率的大小，所以我们要加强资产管理，增加销售收入，提高利润水平是王道。 4、净资产收益率,净利润?〔(期初净资产+期末净资产)/2〕×100% ,23757?〔(43316+55251)/2〕×100% ,48.20% 【上年度为45.25%】 净资产就是所有者权益，其收益率反映所有者投资的获利能力，该比率越高，说明所有者投资带来的收益越高。 5、资本保值增值率,期末所有者权益?期初所有者权益×100% ,55251?43316,127.55% 【上年度为115.65%】 所有者在投入资本时，总是希望他的投资不仅能够保值，还能够增值，即“钱生钱”，起码能跑赢通胀率，不然投资就缩水了。当然这里需要注意所有者权益不是因为追加投资所致，而是由于盈利状况好而致。 我司2010年的资本保值增值率达到了127.55，相当不错，即使扣除约5%的通胀率，再扣除约7%的期初资本贴现率，也超过了115%。
课程论文 《从报表看企业》 对华为公司的财务报表分析 学生姓名徐韩继 13201126 号学 专业名称国际经济与贸易131班国贸级班 月12年2014．
对华为公司的财务报表简析 摘要：在市场经济环境中，企业财务活动变得很积极复杂。需要从财务报表上用 一定的方法对企业的资产负债、利润、现金流量进行综合全面的分析，才能使企业决策者和财务信息使用者得到正确的分析和指导。 本文针对华为公司的财务报表做了简单的分析。对2009年至2013年的财务首先从利润表分析，接着分析了资产负债表，最后对现金流量作出分析。并且进行综合的评价找出原因，提出相应建议。 关键字：财务报表分析；资产负债；现金流量比率 一、手机行业的介绍 随着社会经济、科技水平的提高，手机需求量大量增长，手机行业成为人们生活中必不可少的一部分。这也意味着手机行业具有巨大的发展潜力。在中国OPPO、三星、vivo、华为、苹果、小米占领大部分市场。特别是外来品牌三星和苹果成为很多人追求的品牌。为什么他们能很好地打开中国和其他地区的市场呢？智能手机行业报告数据统计，2014年第2季度，三星15.4%、小米13.5%、联想10.8%、酷派10.7％和华为8.3％分别占据中国智能手机市场份额前五位。苹果占比 6.9％、OPPO4.4％、中兴占比3.1％、金立占比2.8％、天语占比2.5％。国产手机在手机市场占有率提高最根本的原因是我国智能手机技术的提高。 网易科技消息，2014年第一季度，三星智能手机全球市场份额达30.2％，苹果手机全球市场份额达15.5％。华为提升至13.7％。我国智能手机经过几年的培育，大众对手机的市场观念产生改变，从传统的功能性需求对手机增加了更多娱乐与休闲型需求，对智能手机的认知和接受程度普遍提高。市场基础为我国智能手机的发展提高了良好的条件。在国内外众多手机品牌的激烈竞争中，我国国产智能手机将会不断改善，来满足消费者的需求。 二、华为公司简介 华为是一家生产销售通信设备的民营通信科技公司。1987年创立于深圳，1995年销售额达15亿人民币，主要来自于中国农村市场，1998年将市场拓展到年海外合同销售额首次超过国内合2005年开拓海外市场，1999中国主要城市， 同销售额，2008年被商业周刊评为全球十大最有影响力的公司，2009年无线接入市场份额跻身全球第二，2013年已经进入了全球100多个首都城市，覆盖九大金融中心。2014年《财富》世界五百强已经排名285位，今年10月华为以排名94的成绩成为中国大陆首个进入interbrand top100榜单的企业公司。拥有约15万名员工，其中研发人员约占总员工人数的45％。华为产品有企业网络、协作、云计算与数据中心、网管与工具、无线。为消费者提供手机、平板电脑、家庭媒体终端等等。 三、财务报表分析 表3-1 华为近五年利润表
华为2020财务报表分析 【--财务工作总结】 很多小伙伴都知道华为公司，那么华为2020年年报什么时候出来呢?为大家带来的华为2020财务报表分析，希望能帮助到大家! 华为2020财务报表分析 3月30日，华为发布2020年年报，全面披露公司在过去一年的经营业绩。年报显示，华为去年营收达8588亿元人民币，同比增长19.1%;净利润627亿元，同比增长5.6%。华为轮值董事长徐直军表示，2020年将是华为更加艰难的一年，因为公司将全年处于美国实体清单下， 2020年华为力争活下来，争取明年还能发年报。随着手机厂商的年报陆续出炉，新京报将用五张图回顾华为2020年的经营情况，发掘华为在过去一年的高低起伏。 华为2020年报分析 1、2020年营收按季度放缓，下半年受实体清单影响明显 从季度增速看，华为2020年的增长呈前高后低的态势。在去年5月16日被美国政府列入实体清单前，华为上半年营收同比增长23.2%;但下半年华为的营收开始出现放缓，第四季度同比增长只有7.7%。 此外，华为的净利润增速也出现明显放缓，公司从2020年的25.1%下滑至去年的5.6%，营业利润率也从2020年的10.2%下滑至去年的9.1%。 徐直军表示，去年营收增速下降是很容易理解的，去年5月16日华为被纳入美国实体清单后，公司肯定要加大研发力度来补洞，同时有大量的供应商突然间不能给华为供货，华为要重构公司的供应链。我们在这种情况下不可能去追求2020年、2020年的利润率，我们肯定是先把洞补起来，把供应链重构好，然后以生存为第一目标。 2、消费者业务受实体清单影响，2020年手机出货量增速放缓 华为去年消费业务对整体营收的贡献过半，达4673亿元，同比增长34%，这一增速甚至高于2020年，主要得益于华为的智能终端销售多面开花。虽然智能手机出货量的增速下降至16.5%，但华为在PC、平板电脑、智能穿戴设备等领域取得不俗的成绩，其中PC和智能穿戴设备去年的发货量分别同比增长200%和170%。
华为财务分析论文 LG GROUP system office room 【LGA16H-LGYY-LGUA8Q8-LGA162】
华为集团财务报表的分析 目录 摘要: 财务报表分析的概念。文章结合华为集团2014年度及之前的财务报表，利用财务报表提供的基本信息分析、计算，说明原因和得出相应的结论。华为集团主要经营范围。对该公司的盈利能力和发展能力方面进行原因分析和结果预测，据分析结果做出某些必要的调整和提出解决问题的方法。关键词：财务报表、财务报表分析、财务指标、经营情况 引言： 对华为集团的简单介绍；公司的发展状况；对该公司做盈利能力、偿债能力，营运能力方面的相关分析，采取相应的措施。 正文部分： 一、纵向分析公司财务和经营能力 （一）、公司偿债能力分析 1.公司短期偿债能力分析运用企业短期偿债能力的指标（包括营运资金、流动比率、速动比率、现金流动负债比率）进行计算，以此来分析公司的短期偿债能力。 2.公司长期偿债能力分析运用企业长期偿债能力的财务指标（包括资产负债率、产权比率、有形净值债务率、营运资金的比率）进行计算，以此来分析公司的长期偿债能力。 （二）、公司盈利能力分析 盈利能力体现了企业运用其所支配的经济资源，对该公司将运用总资产报酬率、营业利润率、销售利润率、成本费用利润率来进行分析。 （三）、公司营运能力分析运用企业经营能力的财务指标（包括应收账款周转率、存货周转率、流动资产周转率、固定资产周转率）进行计算，以此来分析公司的营运能力。 二、纵向分析公司财务和经营状况了解公司自身的发展情况，同时也要与市场上同行业进行比较，估计该公司在该行业所处的地位。以该公司和其他公司进行横向比较，评价公司的盈利能力、偿债能力、营运能力。 三、财务报表综合分析 采用杜邦分析方法分析： （一）、杜邦分析法和杜邦分析图 （二）、对杜邦图的分析 1.图中各财务指标之间的关系； 2.杜邦分析图提供了下列主要的财务指标关系的信息； (三)、用杜邦分析法对焦作万方进行财务综合分 四、总结对该公司的年度财务报表（及其他公司的年度报表）作分析，了解到财务报表到底包括了哪些信息，利用财务报表提供的信息、通过杜邦分析方法来获得财务信息，动态了解公司的财务和经营状况，并借助财务报表分析出来的结论，评估公司的经营风险、财务风险，并为预防和减小风险做出决策。
合并资产负债表
资产 物业、厂房及设备 长期租赁预付款 无形资产 商誉 于联营公司权益 于合营公司权益 其他投资 递延所得税财产 应收账款 其他应收款 其他非流动资产 非流动资产合计 其他投资 存货 应收账款及应收票据 其他应收款 现金及现金等价物 持有待售资产 流动资产合计 资产总计 权益 本公司所有者应占权益 非控制权益 权益合计 负债 借款 设定受益计划负债 递延政府补助
用心整理精品
2013 年 13 月 31 日
人民币百万 元
2012 年 12 月 2011 年 11 月
31 日
3日
人民币百万 人民币百万
元
元
22,209 2,761 2,410 3,343
270 211 584 11,577 335 14 974 44,688 8,545 24,929 65,534 14,437 73,399
— 186,844 231,532
20,366 2,361 1,689 3,389
243 250 549 9,805 497 407 982 40,538 4,469 22,237 59,829 15,407 67,180 346 168,468 210,006
18,631 1,381
29 17 238 245 454 9,095 3,381
33,671 5,150 26,436 55,330 16,070 57,192
160,178 193,849
86,207 59
86,266
75,048 （24） 75,024
66,274 （46) 66,228
19,990 9,608 2,746
精品
16,077 9,686 2,218
13,270 8,392 1,857