Chinese tech giant Huawei says it has emerged from crisis mode after years of U.S. restrictions that stifled its overseas sales, AP reported.

U.S. restrictions are now the new normal, Eric Xu, Huawei’s current chairman, said in a New Year’s message released Friday.

Former President Donald Trump blocked Huawei Technologies Ltd. from accessing U.S. processor chips and other technology in 2019 on the grounds that Huawei could be contributing to Chinese espionage. Huawei denies the allegations.

Huawei’s unaudited revenue for 2022 is projected to be 636.9 billion yuan ($91.6 billion) – almost unchanged from a year earlier and in line with earlier estimates.

Xu said the company has maintained steady growth, and the decline in the device sector, mainly phones, has diminished. He also said the firm had achieved rapid growth in its cloud business.

Huawei did not release more detailed financial details about its business or the firm’s overall earnings.

Xu pledged to maintain Huawei’s significant investment in research and development next year, noting that its cloud business should be the backbone for driving growth.