Huawei Technologies Co. said it has exited "crisis mode" following punishing U.S. restrictions, as it reported growth in its telecom-infrastructure business and flat overall revenue for 2022.

This year, the Chinese company has signed more than 20 patent license agreements, covering smartphones, connected vehicles, networking and the Internet of Things, according to Alan Fan, the company’s global head of IP. This is a significant increase from previous years, and shows the company’s commitment to protecting its intellectual property.

Huawei has secured an extension to its patent licensing deal with Nokia, suggesting that the Chinese company continues to lead in networking technology despite years of US sanctions.

Many multinational CEOs like to close out the year with a message of congratulations. However, Tencent Holdings Ltd.’s billionaire co-founder Pony Ma delivered a no-holds-barred rant about slacking, oblivious and even corrupt employees.

The Chinese semiconductor industry is experiencing a surge in Initial Public Offerings (IPOs) due to the government's efforts to promote the development of the chip sector, which has attracted a great deal of investment.