ZTE Corporation, a global leader in ICT solutions, reported steady growth for the first half of 2024, achieving a revenue of RMB 62.49 billion, marking a 2.9% year-on-year increase.
ZTE Reports Steady Growth in H1 2024 Despite Complex Market Conditions
The company’s net profit attributable to shareholders rose by 4.8% to RMB 5.73 billion, with net profit after extraordinary items up by 1.1% at RMB 4.96 billion. ZTE’s financial strength was further highlighted by an 8.9% increase in net cash flows from operating activities, reaching RMB 7.00 billion.
Despite a challenging external environment, ZTE continued to innovate, leveraging emerging technologies like AI and 5G-A to maintain stable performance. Internationally, the company saw double-digit growth in its operator network segment, while domestic growth faced pressures due to the overall investment climate.
Notably, ZTE’s government-enterprise and consumer businesses grew significantly, with revenues up by 56.1% and 14.3%, respectively.
The company’s focus on research and development remained strong, with R&D expenses totaling RMB 12.73 billion, accounting for 20.4% of operating revenue. ZTE’s commitment to innovation is evident in its portfolio of over 46,000 granted patents worldwide, including 2,000 in the AI field alone.
ZTE also made significant strides in both connectivity and computing domains, reinforcing its position as a global leader in 5G and optical network technologies. The company expanded its product offerings, including AI-driven terminal products under its “AI for All” strategy, which aims to integrate AI across consumer devices and smart ecosystems.
Looking ahead, ZTE is committed to advancing technological innovations and expanding its presence in the “connectivity + computing + capability + intelligence” domains. The company plans to strengthen its digital infrastructure, foster open collaboration, and build a highly efficient digital future with its industry partners.
