ZTE reports revenue of RMB 60.70 billion in H1, with net profit after extraordinary items increased by 31.8% YoY

ZTE Corporation, a global leading provider of information and communication technology solutions, has recently reported its financial performance for the first half of 2023. During this period, the company achieved a total revenue of RMB 60.70 billion, representing an increase of 1.5% compared to the same period last year.

ZTE reports revenue of RMB 60.70 billion in H1, with net profit after extraordinary items increased by 31.8% YoY

According to ZTE's official financial report, in H1 2023, the net profit attributable to the company's ordinary shareholders reached RMB 5.47 billion, up 19.9% year-on-year. Furthermore, when considering extraordinary items, the net profit attributable to ordinary shareholders was RMB 4.91 billion, marking an even more impressive year-on-year rise of 31.8%. This robust performance resulted in a basic earnings per share of RMB 1.15.

In terms of operational activities, ZTE experienced a substantial 83.6% increase in net cash flows from operating activities, totaling RMB 6.43 billion for the first half of 2023, compared to the same period in the previous year. These financial results demonstrate ZTE's continued strength and growth in the highly competitive information and communication technology sector.

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 the 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, 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.

ZTE helps to connect the world with continuous innovation for a better future. The company provides innovative technologies and integrated solutions, its portfolio spans all series of wireless, wireline, devices and professional telecommunications services. Serving over a quarter of the global population, ZTE is dedicated to creating a digital and intelligent ecosystem, and enabling connectivity and trust everywhere. ZTE is listed on both the Hong Kong and Shenzhen Stock Exchanges. www.zte.com.cn/global.

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