ZTE announces 9-month revenue of RMB 89.39 billion, with net profit reaching RMB 7.84 billion

• The global macroeconomic environment has posed challenges to the ICT industry, while the flourishing digital economy has created new opportunities for digital infrastructure development
• ZTE has maintained a stable performance by focusing on "connectivity + computing power," investing in R&D, and driving innovation in the era of digital intelligence

Shenzhen, China, 23 October 2023 - ZTE Corporation (0763.HK / 000063.SZ), a global leading provider of information and communication technology solutions, today  reported an operating revenue of RMB 89.39 billion for the first three quarters of the year.

According to ZTE's results announcement today, in the first nine months, the net profit attributable to holders of ordinary shares of the listed company amounted to RMB 7.84 billion, representing an increase of 15% year-on-year, with a net profit after extraordinary items attributable to holders of ordinary shares of the listed company for the same period reaching RMB 7.1 billion, indicating a year-on-year rise of 27.9%. Net cash flows from operating activities totaled RMB 9.26 billion.

This year has seen a backdrop of global macroeconomic uncertainty, posing challenges to the ICT industry. Simultaneously, the thriving digital economy has ushered in fresh opportunities for the development of digital infrastructure.

Facing the evolving landscape and emerging prospects, ZTE has remained focused, pragmatic, and highly efficient, maintaining a stable overall performance in the first three quarters of the year. During this period, the company's R&D investment amounted to RMB 19.06 billion, constituting 21.3% of its operating revenue, as part of its dedicated efforts to construct a comprehensive and efficient digital foundation for the industry. 

Throughout the first three quarters, ZTE has continued to deepen its exploration and practice in two key directions: "connectivity + computing power," driving innovation in technology, products, and applications with the rapid acceleration of the era of digital intelligence and the emergence of large-scale models.

Moving forward, amid a blend of opportunities and challenges, ZTE is dedicated to aligning with the evolving trends of the intelligent era, steadfastly maintaining its strategic focus, strengthening operational resilience, and solidifying its digital foundation. Collaborating with its partners, the company is committed to driving innovation in the convergence of information and communication technology, and jointly nurturing a dynamic ecosystem, much like a digital rainforest within the intelligent era.

ABOUT ZTE:

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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