Huawei said group R&D investment in 1H 2026 was 121.4 bln yuan, a record for the
period; R&D expense ratio was 25.9%. R&D outlays rose 25.2% YoY. Full-year 2025
R&D investment was 192.3 bln yuan with a 21.8% expense ratio. Cumulative R&D
investment over the past decade reached 1.382 tln yuan, and Huawei said its
global R&D ranking has been in the top six for nine consecutive years.