Zte corporation

ZTE Reports Revenue of RMB 30.58 Billion

ZTE Reports Q1 2024 Revenue of RMB 30.58 Billion. ZTE Corporation is a leading global provider of information and communication technology solutions. They have announced a revenue of RMB 30.58 billion for the first quarter of 2024, marking a 4.9% increase compared to the same period last year.

According to the latest results released by ZTE, the net profit attributable to holders of ordinary shares reached RMB 2.74 billion in Q1 2024, reflecting a 3.7% year-on-year rise. The net profit after extraordinary items for the same shareholders was RMB 2.65 billion, up by 7.9% from the previous year. Additionally, net cash flows from operating activities surged by 28.3% to RMB 2.98 billion, demonstrating robust financial health and stable growth across both revenue and net profit.

Despite facing domestic market challenges due to a constrained investment environment, ZTE has pivoted towards enhancing its “connectivity + computing power” strategy to expand its market presence. ZTE continues to make significant progress internationally with major telecom operators in key countries. Maintaining its upward growth trajectory. The company has also bolstered its efforts in the government-enterprise and consumer business sectors, achieving rapid growth in these areas.

Capitalizing on its comprehensive ICT capabilities. ZTE is poised to seize strategic opportunities in digitalization, intelligence, and decarbonization. With the rapid advancement of AI, ZTE is deepening its focus on “connectivity + computing power,” offering innovative solutions to global customers in high-speed networks, computing infrastructure, and industrial digital transformation.

Moreover, ZTE is integrating AI technology into its product development, fostering innovation and intelligent upgrades across its portfolio. In Q1 2024, ZTE invested RMB 6.38 billion in research and development, representing 20.9% of its operating revenue. This substantial investment underscores ZTE’s commitment to driving business innovation and enhancing product competitiveness.

In the realm of connectivity, ZTE continues to lead with cutting-edge technologies and products, advancing in areas such as 5G, all-optical networks, and 6G. In computing, ZTE has implemented new technologies like general computing, intelligent computing, and large models, offering comprehensive full-stack solutions that include hardware infrastructure, software platforms, and industry-specific AI applications.

ZTE has also introduced the “AI for All” concept, launching an AI-driven intelligent ecosystem 3.0 and unveiling various innovative products and technologies.

Looking ahead, ZTE aims to further embrace the wave of digital construction, accelerating its shift towards “connectivity + computing power.”

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