China's telecommunications giant ZTE Corp. reported record revenue and profits in 2015, according to a preliminary financial report released Tuesday.

Its full-year revenue in 2015 is forecast to be 100.8 billion yuan (15 billion US dollars), up 23.8 percent year on year, and net profits are projected to be 3.78 billion yuan, up 43.5 percent year on year.

This will be the first time the company's revenue surpasses 100 billion yuan.

Strong performance of new businesses, including chips, cloud computing and big data, contributed to the growth, according to the report.

ZTE, a major competitor of Huawei Technologies, also recorded higher sales of 4G network solutions and optical network solutions.

At the end of 2015, ZTE's gearing ratio improved to 63.9 percent, down 11.35 percentage points year on year, reflecting the stronger profitability of the company's operations and better capital management, it said.