Huawei Digital Power — 2024 at a Glance

Private (subsidiary of Huawei Technologies) · Founded 2021 · Shenzhen, China
Huawei group revenue
CNY 862.1 B (~$118.2 B)
Group YoY change
+22.4 %
Digital Power segment revenue
CNY 68.7 B (~$9.4 B)
Digital Power YoY change
+24.4 %
Group gross margin
44.4 %
Group R&D spending
CNY 179.7 B (20.8 % of revenue)
Cumulative ESS shipments
>30 GWh
Employees
approximately 208,000 (113,000 in R&D)

Key takeaways

  • Huawei’s Digital Power segment generated CNY 68.7 billion in revenue in 2024, up 24.4 % year-on-year — growing faster than the group average of 22.4 %.
  • Cumulative energy storage shipments exceeded 30 GWh, and Huawei claims the #1 position in China for utility-scale smart string ESS.
  • The company’s largest single ESS project is a 2.2 GWh installation in Xinjiang.
  • Huawei does not disclose ESS-specific revenue, margins, or annual shipment volumes. It is privately held and is not subject to listed-company reporting requirements.
  • Group-wide R&D spending reached CNY 179.7 billion (20.8 % of revenue), with 54.1 % of employees working in R&D.

1. Headline numbers

Huawei reported group revenue of CNY 862.1 billion for the year ended December 31, 2024, up 22.4 % from CNY 704.2 billion in 2023. Group gross margin was 44.4 %.

R&D spending reached CNY 179.7 billion, representing 20.8 % of revenue. Of the company’s approximately 208,000 employees, 113,000 (54.1 %) work in research and development. Over the past decade, Huawei has invested more than CNY 1.249 trillion in R&D cumulatively.

Huawei does not publish net profit figures or segment-level profitability. It is wholly owned by its employees and is not listed on a stock exchange. The annual report provides revenue by segment but no operating profit or margin breakdown below the group level.

2. The Digital Power segment

Huawei Digital Power Technologies Co., Ltd. was established in 2021 as a wholly owned subsidiary responsible for Huawei’s energy technology businesses. It is one of five main business segments alongside ICT Infrastructure, Cloud Computing, Intelligent Automotive Solutions, and Consumer.

The Digital Power segment covers smart PV inverters, energy storage systems, data center power supplies, EV drivetrain components, and the FusionSolar management platform. Segment revenue reached CNY 68.7 billion in 2024, up 24.4 % year-on-year — faster than the group average of 22.4 %.

The segment does not break out revenue by product line. ESS revenue is bundled with smart PV, site power, and other energy products within the CNY 68.7 billion total, making it impossible to isolate the storage business from public filings.

3. What we know about energy storage

Huawei’s annual report and Digital Power press releases provide the following ESS data points:

  • Cumulative ESS shipments exceeded 30 GWh by end of 2024
  • #1 in China for utility-scale smart string energy storage — Huawei’s own claim, based on domestic market position
  • Largest single project: 2.2 GWh in Xinjiang, one of the largest ESS installations in China
  • Cumulative smart PV inverter shipments exceeded 470 GW — ranked #1 globally for nine consecutive years
  • FusionSolar platform manages over 430 GW of connected PV capacity globally

The company does not disclose annual ESS shipment volumes (only cumulative), ESS-specific revenue, ESS margins, or geographic breakdown of storage deployments. This makes direct financial comparison with listed competitors like CATL, Sungrow, or BYD impossible.

Without annual shipment disclosures, the exact scale of Huawei’s yearly ESS deployments cannot be determined from public data.

4. Smart String ESS: Huawei’s technology approach

Huawei’s energy storage systems use a Smart String architecture, which applies the distributed, string-level design approach from its PV inverter business to battery systems.

In a conventional ESS, large centralized PCS units manage entire battery container strings. Huawei’s approach uses smaller, distributed PCS units (200-213 kW) paired with individual battery packs, with intelligent management at the string level. The company argues this delivers higher energy yield by reducing mismatch losses, better fault isolation, and easier O&M compared to centralized architectures.

The FusionSolar cloud platform provides monitoring, diagnostics, and remote management across the entire fleet. Over 430 GW of PV assets are connected to FusionSolar; customers deploying Huawei PV inverters and ESS can manage both from the same platform.

Huawei claims the #1 position in China for utility-scale smart string ESS. Huawei is on the US Entity List, which restricts its access to certain semiconductor and technology supply chains.

5. Product portfolio

Huawei Digital Power offers energy storage across three market segments:

Utility-scale

The LUNA2000 utility-scale line includes DC blocks up to 4,472 kWh, paired with string PCS units (200-213 kW) and the SPPC2000 plant controller. Recent product evolution has focused on increasing energy density per container and integration with Huawei’s grid-forming capabilities.

Commercial and industrial

Huawei offers C&I storage solutions integrated with its commercial PV inverter ecosystem, targeting demand charge management, peak shaving, and self-consumption optimization for commercial buildings and industrial sites.

Residential

The LUNA2000 residential battery series (5-30 kWh modular configurations) pairs with Huawei’s residential PV inverters.

6. R&D scale

Huawei’s group R&D spending in 2024 was CNY 179.7 billion, or 20.8 % of revenue, with 113,000 R&D employees out of approximately 208,000 in total.

Huawei does not disclose how much of this R&D spending is allocated to energy storage. The group figure covers all business segments, including telecom, cloud, and consumer electronics.

The company holds patents across power conversion, battery management, thermal management, and cloud-based energy management — though Huawei does not break out ESS-specific patent counts.

7. Market context

Global ESS battery shipments reached approximately 350-400 GWh in 2024 (the exact figure varies by source, as some track cells and others track systems).

Huawei sources battery cells from third-party suppliers rather than manufacturing its own. CATL, BYD, and EVE Energy manufacture cells, modules, and in some cases complete systems.

Huawei’s operations span 170+ countries. The company is on the US Entity List and does not sell into the US market.

Cumulative smart PV inverter shipments exceeded 470 GW, ranked #1 globally for nine consecutive years.

8. Summary of disclosed and undisclosed figures

ESS disclosure. Huawei claims #1 in China for utility-scale smart string ESS and reports cumulative shipments of more than 30 GWh. It publishes no ESS-specific revenue, margin, or annual shipment data. The Digital Power segment reports storage together with PV inverters, site power, and other products in a single CNY 68.7 billion revenue line. Listed competitors including CATL, Sungrow, and EVE Energy report ESS revenue and shipment data in their quarterly and annual filings.

Entity List. Huawei is on the US Entity List, which restricts its access to certain semiconductor and technology supply chains.

Segment growth. Digital Power revenue grew 24.4 % in 2024, against a group average of 22.4 %.

FusionSolar. More than 430 GW of PV capacity is connected to the FusionSolar platform.

10. Sources

Financial data is sourced from the Huawei 2024 Annual Report. ESS-specific figures (cumulative shipments, market position, project references, PV inverter shipments, FusionSolar capacity) are sourced from Huawei Digital Power press releases and the Huawei Digital Power website.

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