SHENZHEN, March 31 (Xinhua) -- Chinese tech giant Huawei generated revenue of 642.3 billion yuan (about US$93.5 billion) in 2022, edging up from 636.8 billion yuan a year earlier.

The company’s net profit over the past year dropped to 35.6 billion yuan, according to its annual report released on Friday, down from 113.7 billion yuan in 2021.

"In 2022, a challenging external environment and non-market factors continued to take a toll on Huawei’s operations," Eric Xu, the company’s rotating chairman, told a press conference.

Amid the storm, Xu said the company went to great lengths to "grow the harvest," generating a steady stream of revenue to sustain its survival and lay the groundwork for future development.

Based in Shenzhen, Huawei is a leading global provider of information and communications technology (ICT) infrastructure and smart devices.