Recently, Lei Jun proposed that Xiaomi should invest 100 billion yuan in research and development in five years.
In fact, the research and development of these five years is not even as good as Huawei's one year.
So some people say that Huawei is not a listed company, and the data is casually said.
The Internet is not an extralegal place, and it is necessary to prove what you say.
Although Huawei is not listed, Huawei issues bonds in the international and domestic markets, regularly discloses annual reports according to the requirements of the bond market, and on this basis, discloses quarterly reports on its own.
Huawei's annual report audit was conducted by KPMG, one of the big four international accounting firms. Xiaomi's audit firm is another big four, PwC.
All good.
In 2020, Xiaomi's revenue was 245.8 billion yuan and net profit was 20.3 billion yuan; Huawei's 891.4 billion yuan and net profit were 64.6 billion yuan.
Huawei's annual R&D investment is as high as 140 billion.
The two are not a large company at all, why do people feel competitive?
Whether it is the existing business scope or the future growth direction, Huawei and Xiaomi are not all the same companies.
Huawei was originally mainly for B-end customers, especially the communications industry, base stations, antennas and other services, Huawei has achieved the world's top, just to expand the scale, the company in the consumer business force, of which mobile phones have become an important product line, and Xiaomi has formed a competitive relationship.
Even in the mobile phone-based consumer business, Huawei has achieved 482.9 billion yuan in 2020, almost twice that of Xiaomi.
Of course, Starry Sky Jun is not saying who is good and who is bad.
China needs more and better Fortune 500 companies, more Huawei, and more Millet.
1. Huawei debt
At the beginning of the new year in 2022, Huawei announced that it intends to raise 4 billion yuan to supplement the working capital of the company's headquarters and subsidiaries.
In 2012, Huawei began to issue bonds in the global market for the first time; in 2019, Huawei issued bonds in China for the first time.
After the successful bond issuance, Huawei raised a total of 38 billion yuan in China for 10 times, and issued bonds in the global market for the 16th time, totaling 40.6 billion yuan of bonds and 4.6 billion US dollars of bonds.
For a company with excellent annual revenue of hundreds of billions of cash flow, issuing bonds to raise billions of dollars is almost a drop in the bucket, so why should Hua issue bonds?
In Huawei, there are two calibers on this issue: first, the asset management department believes that Huawei must issue bonds under the best circumstances, enhance social understanding and trust, and cannot issue bonds again when it is difficult; second, Ren Zhengfei has explained that there is no repayment problem for Huawei bonds, and our funds are relatively generous. With more money, we hope to give more support to universities, scientific research institutions, and standards organizations, support the development of the world, and not narrowly safeguard our own interests.
Before the epidemic, Xingkong Jun went to the Yanqi Lake Conference Center several times, and every morning he would run around Yanqi Lake, exactly 15 kilometers, full of comfort, next to the campus of the National University of Science and Technology, and sometimes went to the campus to run with his classmates. In the campus of the National University of Science and Technology, many huawei's mobile communications, energy storage and other experimental equipment were found, and according to Ren Zhengfei, some of these academic investments came from bond issuance.
According to the prospectus for the first medium-term note in 2022, in order to support the development of various businesses and the implementation of key strategies, Huawei intends to issue a medium-term note with a maturity of 3 years and a total fundraising of 4 billion yuan, which will be used to supplement the working capital of the company's headquarters and subsidiaries.
According to the announcement, ICBC is the lead underwriter of the offering, and the Agricultural Bank of China is the joint lead underwriter, with an interest rate range of 2.7%-3.3%, the first day of issuance is January 6, 2022, the payment date is January 10, and the listing date is January 11. Redemption date is January 10, 2025.
From the perspective of interest rate range, from Huawei's point of view, the financing cost is very low, in some cases, even lower than the cost of its own funds. It can not only form a certain social influence, but also raise low-cost funds. Huawei's bond issuance is still relatively cost-effective.
2. 2021 Performance
The announcement disclosed Huawei's performance expectations for 2021, which has declined significantly.
From 2018 to 2020, Huawei's consolidated caliber achieved operating income of 715.192 billion yuan, 849.646 billion yuan, and 882.877 billion yuan, an increase of 19.50%, 18.80%, and 3.91% year-on-year, respectively, and an average annual compound growth rate of 11.11% from 2018 to 2020.
In the first three quarters of 2021, Huawei achieved revenue of 450.971 billion yuan and net profit of 46.371 billion yuan, both of which declined, and Huawei is expected to achieve sales revenue of about 634 billion yuan for the whole year, down 28.88% year-on-year.
Considering that Huawei has divested Honor and Huawei Marine (annual revenue of about 100 billion yuan), and is selling server business, it can be roughly speculated that Huawei's core business, especially the business for operators, has little impact, and may even rise against the market.
In its New Year's Day speech, Huawei Qilin released a meaningful cartoon, "Walking towards the core".
Perhaps in 2022, we can be surprised to see Huawei's chips.
Third, Huawei's 2022
Guo Ping, Huawei's rotating chairman, still said in the company's 2022 New Year's speech: "In 2022, we still face a series of challenges, and we will work closely with global partners to overcome difficulties." In the new year, we want to produce more food, strengthen our foundations, continue to invest in the future, and 'survive and survive with quality' by creating value for our customers and partners.
Based on the current news, Huawei has newly expanded several services that have less demanding chips:
1. Cars
Huawei has two deep partners, one is BAIC Polar Fox and the other is Xiaokang Xilisi.
Among them, the cooperation with Xiaokang makes The Starry Sky Jun not understand it.
After Xiaokang and Dongfeng parted ways, there was no imagination in the field of vans and pickup trucks, and in order to maintain the market value, they simply adopted a disguised "selling" method.
Completely let Huawei dominate the research and development of Cyrus.
However, Yu Chengdong's Huawei promise not to build a car is still in the ear, and the questioning boundary extended on the basis of Xilis cannot actually be regarded as Huawei's work.
If Huawei really builds cars, it will be difficult to further deepen cooperation with other automakers, after all, they are potential competitors.
This depends on how Huawei chooses.
2. Office facilities
Huawei's printers are very popular, and Star Jun has seen this laser printer suitable for small and medium-sized enterprises in many places. In addition, Huawei has increased its efforts in the field of notebooks and desktops.
Especially in the field of notebook collection, a certain idea of pulling the crotch has given Huawei a very good opportunity.
Now many central enterprises have replaced their collection with Huawei notebooks, which is a relatively profitable area.
In addition, Huawei is still an absolute advantage in traditional switches, antennas, base stations and other fields.