ZTE achieves revenue of RMB 60.70 billion in H1, with net profit after extraordinary items increased by 31.8% YoY

ZTE HQ in China

• Harvested growth across both domestic and international markets, and achieved excellence in three major business segments
• Continued to expand innovative services in the second curve during H1, with computing power infrastructure products driving progress

ZTE Corporation (0763.HK / 000063.SZ), a global leading provider of information and communication technology solutions, recently 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, 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 the 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.

ZTE has adhered to the business strategy of “precision and pragmatism for steady growth”, enhanced the synergy of “connectivity and computing power”, seized the opportunities in home optical network construction and the energy market, demonstrating robust operational resilience. The company continued to expand its innovative services in the second curve throughout the first half of the year, with computing power infrastructure products serving as a significant driving force.

Moving forward, ZTE will embrace the currents of the digital economy, accelerate its expansion from CT to IT field, and transform from a full-connection company to a computing power company to drive its sustainable growth in collaboration with operators, industries, and ecological partners, leading to mutual success and a collective pursuit of new development within the digital economy.

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

Stay up to date with the latest from ZTE Devices Philippines. Like and follow the official social media channels (@ztedevicesph) on Facebook, Instagram and Tiktok. You may also buy ZTE and RedMagic phones from authorized dealers and official flagship stores in Lazada, Shopee and Kimstore.com.

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LG CEO Announces Bold Vision to Transform LG into "Smart Life Solutions Company"

Company Aims to Advance Business Portfolio by Transitioning to Platform-based Service Business Model, Accelerating B2B Business and Procuring New Growth Engines

Mr. William Cho, LG CEO

LG Electronics (LG) declared its vision to transform from its current position as a top global home appliance brand to a “smart life solutions company” that can connect and expand customers’ diverse experiences while driving for global annual revenues of KRW 100 trillion by 2030.

In a landmark speech today at the LG Sciencepark in Seoul, South Korea, CEO William Cho outlined the bold vision built on three growth engines: pursuing new platform based service businesses through advancement of business portfolio, accelerating business-to-business (B2B) and exploring new business areas such as electronics vehicle charging and digital health. The CEO identified electrification, servitization and digitalization as key inflection points LG will focus on to achieve rapid mid- to long-term growth.

“LG will continue to pursue its bold vision to transform and leap forward as a smart life solutions company that connects and expands customers’ various spaces and experiences, rather than resting on its current position as the best home appliance brand that provides quality products,” said CEO Cho. “We will establish a brand-new LG by reinventing the way we work and communicate toward this goal.”

The CEO also highlighted the company’s financial objectives. “We will achieve Triple 7, which encompasses an average growth rate and operating profit of 7 percent or more as well as enterprise value to EBITDA ratio of 7,” said the CEO. “With the goal of raising sales from KRW 65 trillion last year to KRW 100 trillion by 2030, we will establish ourselves as a company that is properly recognized by the market and customers.”

Cho said LG will focus on the transition to the platform based service business model, acceleration of B2B areas and procurement of new growth engines based on competitive edge as three pillars to focus on customer experience. By 2030, the proportion of these three pillars in sales and operating profit is expected to increase to more than 50 percent.

The company plans to invest more than KRW 50 trillion by 2030 for the qualitative growth of the business, including the advancing of the business portfolio led by the three new growth engines. This includes an R&D investment of more than KRW 25 trillion, facility investment of more than KRW 17 trillion and strategic investment of KRW 7 trillion.

The company is also accelerating the expansion of its B2B business, the CEO explained. LG’s rich understanding of customers as well as the know-how to communicate and empathize with customers that have been accumulated in the B2C business, which has seen continuous innovation over the past 65 years, will be fully expanded to commercial, mobility and virtual spaces.

Cho highlighted how LG is accelerating company-wide changes from corporate culture to brand communication at every customer contact point with the ultimate goal of becoming a brand that warms the hearts of customers and puts smiles on their faces while enabling customers to feel the value and philosophy of Life’s Good. The company is also driving ESG management activities to fulfill its responsibilities as a global corporate citizen.

Life's about more than having the latest technology, rather, it's about the experiences technology creates that impact our lives. LG Electronics Philippines delivers consumer electronics through top-of-the-line home entertainment, home appliances, and air solution products that prepare Filipinos for their greatest moments. LG promises to bring "Innovation for a Better Life" nationwide - from Luzon, to Visayas, and Mindanao.

For more information about LG products in the Philippines, visit the official website at lg.com/ph. You may also follow the official social media accounts @LGPhilippines on Facebook, Instagram, Youtube and Tiktok.

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BusinessWorld launches SparkUp for young entrepreneurs and investors

BusinessWorld, the country's leading business newspaper, has began embracing the digital age for years now. And in its 30th anniversary, it engages on the young market, in the evolution of the collegiate dialogue BusinessWorld Student Forum to Bworld University and now SparkUp -- an online platform that guides millennials to properly use money and put it to good use with entrepreneurship.

The direction for a digital-first multimedia platform came from Lucien C. Dy Tioco, Executive Vice-President of Philippine Star Media Group, which BusinessWorld is part of. “SparkUp will prove to be a useful platform for business-minded millennials and centennials because it will not only serve as a source of business knowledge, but also a community where they can share ideas and inspire each other to turn business concepts into reality,” he said.

SparkUp also releases a quarterly magazine that features a thorough discussion of topics reflected on the online platform. To further guide you on the content of SparkUp, they also released themes that will make your browsing much easier:

SparkUp desktop

#MoneyMonday – Tips on money management, with the latest news on saving, investing, and spending;
#TrendingTuesday – Insights on the latest trends and their impact on entrepreneurs and consumers;
#WorkingWednesday – Workplace stories and tips for the Gen Y and Gen Z's work ethics and career outlooks;
#TakeoverThursday – An insider tour of a day in the life of the members of the Sparkommunity;
#FreshFriday – Stories on the lighter side of business

Inspiring the young entrepreneurial spirit are Sparkfluencers who discuss money and business matters which give insights for the rising Sparkommunity. In definition, Sparkommunity is both the online and offline group that are lead to the common goal of BW to inform the young ones in the field of business. They also conduct entrepreneurial summits, pocket forums, campus activations, start-up competitions, and case-study activities. These will enable members of the Sparkommunity to learn, meet up, network, and find potential partners.

SparkUp Mobile

To know more about SparkUp, visit www.sparkup.ph and follow @SparkUpPH in Instagram and Facebook. For inquiries, e-mail hello@sparkup.ph

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YSTILO SALON celebrates 15 years of success

YSTILO SALON, owned by celebrity sisters, Vina Morales and Shaina Magdayao, celebrates 15 years of success in making its patrons beautiful and attractive. a chitchat at their SM Mall of Asia branch happened this afternoon.

Ystilo Salon SM Mall of Asia

its humble beginnings were at the vicinity of Fairview where their sisters have to monitor while they're doing their entertainment jobs. as it's their hobby and huge interest in pampering themselves, it's best to invest in the business it is today. since then, the business grew and caters to all people in different grooming and pampering needs like haircut and spa.

Vina Morales and Shaina Magdayao

Vina shared her stories behind Ystilo Salon. before this venture, she admittedly said that some of the businesses she had didn't go well. the secret with Ystilo is that owners should have focus on the business. continuing to innovate and invest on the training of the therapists and stylists while keeping the good values and services. she even nodded that they had saved much on endorsements because they can do it themselves since they are already celebrities.

it is also helpful for the branches when they visit. Vina attends on gatherings in provincial branches while Shaina makes her way to visit Metro Manila branches, especially the Greenhills branch which is nearest to her work locations. the anniversary party this afternoon also invited patrons and fans to meet and greet the celebrity sisters and take a photo opportunity.

being recognized by the Philippine Marketing Association, Go Negosyo and Entrepreneur Magazine in many years, Ystilo Salon still continues and looks forward to new trends in styling and pampering their valued customers. and as for Vina, they keep the services up to date and doesn't compromise the skills and value for their employees.

Ystilo Salon is open for franchising inquiries at an reasonable price. you may contact the Corporate Office by calling 927.7532 or 415.0222.

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