Huawei Technologies Co said on Friday that its net profit hit 59.3 billion yuan ($8.7 billion) in 2018, up 25.1 percent year-on-year.

In comparison, the profit growth rate in 2017 was 28.1 percent. The results show that Huawei still maintained a relatively sound momentum in its profit stream, despite its heavy input into the research and development of 5G and the challenges it faced in overseas markets in the second half of 2018.

Its revenue for 2018 stood at 721 billion yuan ($105.2 billion), up 19.5 percent year-on-year. Last year, the company invested 101.5 billion yuan, or 14 percent of its sales revenue, into R&D.