Huawei chairman Liang Hua's update, as reported by Reuters, celebrated "the tech company's annual revenue exceeding 860 billion yuan ($118.27 billion) last year, as it continued to shake off the impact of U.S. sanctions and its consumer business returned to growth." This Chinese company's "annual revenue of 860 billion yuan would mark 22% year-on-year-growth from 2023, when Huawei reported 704.2 billion yuan in revenue. The company also reported its fastest growth in four years that year."