ZTE's Net Profit Increases by 15% YoY in the First Three Quarters

Updated:2023/10/31 16:21

ZTE recently released its third-quarter report for 2023. The report shows that from January to September 2023, the company achieved operating revenue of 89.39 billion yuan. Its net profit attributable to shareholders reached 7.84 billion yuan, representing a 15.0% YoY increase. The non-recurring net profit attributable to shareholders was 7.1 billion yuan, showing a 27.9% YoY growth. The net cash flow from operating activities reached 9.26 billion yuan.

This year, the global macroeconomic uncertainty has posed challenges to the development of the ICT industry. However, the booming digital economy has also brought new opportunities for digital infrastructure construction. Faced with the current changes and new situations, ZTE has remained precise, pragmatic, and efficient in its operations, maintaining steady overall performance in the first three quarters. The company invested 19.06 billion yuan in research and development during this period, accounting for 21.3% of its operating revenue. It has made comprehensive efforts in three areas: breakthroughs in core fundamentals, infrastructure and capability upgrades, and improvements in production and transaction efficiency. ZTE is committed to building a comprehensive and efficient digital foundation for the industry.

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