ZTE reports RMB60.7 billion (US$8.3 billion) for H1 2023

ZTE said it has invested 21.1% of its operating revenue back into R&D. #pressrelease

August 18, 2023

1 Min Read

SHENZHEN, China – ZTE Corporation (0763.HK / 000063.SZ), a global leading provider of information and communication technology solutions, today 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.

Read the full press release here.


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