China's tech giant Huawei reports 34.3-percent increase in sales revenue in H1

This photo taken on April 14, 2024 shows the booth of Huawei at the fourth China International Consumer Products Expo (CICPE) in Haikou, capital city of south China's Hainan Province. (Xinhua/Yang Guanyu)

SHENZHEN, Aug. 29 (Xinhua) -- China's technology giant Huawei saw its sales revenue increase by 34.3 percent year on year to 417.5 billion yuan (about 58.6 billion U.S. dollars) in the first half (H1) of this year, said the company on Thursday.

During the period, the company also recorded a net profit margin of 13.2 percent. The overall business performance of the company is in line with its expectations, according to Xu Zhijun, rotating chairman of Huawei.

Earlier figures show that, in the first half of 2023, its sales revenue reached 310.9 billion yuan, marking a year-on-year increase of 3.1 percent, with a net profit margin of some 15 percent.