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ZTE H1 revenue RMB 60.7 billion, net profit up 31.8% YoY

ZTE Corporation announced a revenue of RMB 60.70 billion for the first half of 2023, representing an increase of 1.5% year-on-year.

According to ZTE’s results announcement today, in H1 2023, the net profit attributable to holders of ordinary shares of the listed company reached RMB 5.47 billion, up 19.9% year-on-year. The net profit after extraordinary items attributable to holders of ordinary shares of the listed company for the same period was RMB 4.91 billion, indicating a year-on-year rise of 31.8%. Basic earnings per share was RMB 1.15. Net cash flows from operating activities increased by 83.6% to RMB 6.43 billion, compared to the same period last year.

In the first half of 2023, the company’s R&D investment amounted to RMB 12.79 billion, accounting for 21.1% of its operating revenue. ZTE has substantially enhanced competitiveness across all its business sectors by reinforcing the capabilities of DICT infrastructure products and solutions.

During the initial half of 2023, the company’s operating revenue in the domestic market amounted to RMB 43.11 billion, constituting 71.0% of its overall operating revenue. Additionally, the operating revenue from international market reached RMB 17.59 billion, covering 29.0% of its overall operating revenue. Notably, ZTE’s three major business segments — operator networks, government and corporate services, and consumer services — achieved RMB 40.81 billion, RMB 5.87 billion, and RMB 14.02 billion, respectively.

ZTE has adhered to the business strategy of “precision and pragmatism for steady growth”, enhanced the synergy of “connectivity and computing power”, seized the opportunities in home optical network construction and the energy market, demonstrating robust operational resilience. The company continued to expand its innovative services in the second curve throughout the first half of the year, with computing power infrastructure products serving as a significant driving force.

Moving forward, amidst a blend of opportunities and challenges, ZTE will embrace the currents of the digital economy, accelerate its expansion from CT to IT field, and transform from a full-connection company to a computing power company to drive its sustainable growth in collaboration with operators, industries, and ecological partners, leading to mutual success and a collective pursuit of new development within the digital economy.

CT Bureau

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