Chinese tech giant Huawei's revenue up 23.2 pct in H1

Chinese tech giant Huawei's revenue rose year on year to 401.3 billion yuan in the first half of 2019, according to the company's semiannual report released on Tuesday.

The company's net profit margin during the same period was 8.7 percent, the report said.

Its smartphone shipments reached 118 million units in the first half of this year, representing a 24-percent growth year on year. Rapid growth was also observed in the shipments of tablets, PCs and wearables, it said.

Huawei chairman Liang Hua said the Shenzhen-based company's "operations are smooth and the organization is as sound as ever."

With effective management and excellent performance across all financial indicators, Huawei's business remained robust in the first half of this year, he said.

The chairman admitted difficulties facing the firm, which he said may affect the pace of growth in the short term. "But we will stay the course. We are fully confident in what the future holds, and we will continue investing as planned," he said.

The company plans to invest 120 billion yuan in research and development this year, according to Liang.

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