FRANKFURT, Feb. 7 (Xinhua) -- Germany's leading technology and service company Bosch Group reported an eight-percent growth in global sales last year and a five-percent increase in sales to China, the company said on Wednesday.
Exchange rate-adjusted sales went up to 91.6 billion euros last year, according to the company's financial report for the 2023 business year.
"For Bosch, 2023 was tougher than expected," Robert Bosch GmbH's board of management chairman Stefan Hartung said, adding that the group had made huge efforts to expand sales and margins.
He said the company needed to respond to a weaker order situation and work hard on its competitiveness. "That's the only way we can finance our future growth."
On Wednesday, Bosch China also published its preliminary sales figures for 2023, which showed a year-on-year growth of 5.2 percent to 18.2 billion euros.
China is important not only as Bosch's major market, but also as a center for innovation, research and development, Bosch China's president Xu Daquan said.
Bosch plans to further enhance its presence in China by bolstering local manufacturing, expanding collaboration with local partners and strengthening research and development capacities, Xu said. ■
