People walk past a flagship store of Huawei in Shenzhen, south China's Guangdong Province, Sept. 11, 2023. [Photo/Xinhua]

Chinese tech giant Huawei expects its 2023 sales revenue to reach over 700 billion yuan (about $ 98.83 billion), while the company's operation has generally returned to normal, according to a statement released by Huawei on Friday.

In 2023, the company's information and communication infrastructure business remained robust, terminal business exceeded expectations, digital power and cloud businesses achieved strong growth, and the competitiveness of intelligent automotive solutions significantly improved, according to the statement.

"We survived and fostered growth through arduous efforts, but the challenges remain severe," said Hu Houkun, Huawei's rotating chairman. "Regardless of external changes, Huawei will maintain strategic resolve, fully leverage its comprehensive advantages in industry portfolio, technological innovation, and complex hardware and software platforms, while consistently delivering high-quality products and services to our customers."

In 2022, Huawei achieved sales revenue of 642.3 billion yuan, marking a year-on-year increase of 0.9%. In the first half of 2023, the company realized sales revenue of 310.9 billion yuan with a net profit margin of 15%.

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