ZTE issued full-year guidance for 2015 which included a 24 per cent growth in revenue to CNY100.8 billion ($15.3 billion), powered by several product lines including 4G networks.

The company passed the CNY100 billion milestone for the first time, according to its preliminary unaudited figures.

In addition to sales of 4G equipment, ZTE was buoyed by the performance of optical networks, enterprise ICT solutions and routers.

Annual net profit attributed to shareholders will be CNY3.78 billion ($574 million), up from CNY2.63 billion in 2014.

Higher sales of 4G equipment came internationally and not just in China, the company stressed. Increased sales of optical network gear was the result of growing demand for broadband networks.

ZTE highlighted the performance of its enterprise ICT solutions, including smart city and data center products which performed well among both private companies and governments.

The company also said it has boosted sales of 4G smartphones internationally, without giving further details.

In terms of financial performance, the company noted that its gearing ratio improved at the end of 2015 to 63.9 per cent, compared to 75.25 per cent a year earlier. This reflected stronger profitability of the company’s operations and improved capital management.

The company strengthened its cashlow management, with cash received for the sales of goods and services exceeding CNY105 billion. It achieved substantial growth in cash inflows from operating activities and net cashflows from operating activities.