Huawei Technologies reported a significant decline in net profit to $8.6 billion in 2024, down 28% from the previous year, while revenue surged 22% to $118.2 billion. The Chinese tech giant attributed the profit decrease to aggressive investment in future technologies, with R&D spending reaching $25 billion - over 20% of revenue. The company's consumer unit saw a 38.3% revenue jump, while automotive services sales quadrupled. Despite ongoing US trade restrictions limiting access to advanced chips and software, Huawei maintains strong growth in cloud computing and digital power sectors.