ZTE reports Q1 2023 net profit of RMB 2.64 billion, Securing a 19.2% year-on-year growth with “precise and pragmatic operation”

ZTE Shenzhen

- Adopting the business strategy of "precision and pragmatism for steady growth"
- Harvesting a revenue of RMB 29.14 billion for Q1, an increase of 4.3% year-on-year
- Net cash flows from operating activities in Q1 increased by 95.9% to RMB 2.33 billion

April 2023, Shenzhen, China - ZTE Corporation (0763.HK / 000063.SZ), a global leading provider of information and communication technology solutions, today announced a revenue of RMB 29.14 billion for the first quarter of 2023, an increase of 4.3% year-on-year.

Likewise, ZTE’s Q1 2023 results show that the net profit attributable to holders of ordinary shares of the listed company reached RMB 2.64 billion, an increase of 19.2% 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 2.45 billion, representing a year-on-year rise of 25.7%. Its net cash flows from operating activities increased by 95.9% to RMB 2.33 billion, compared to the same period last year.

As the global environment remains complex and volatile in 2023 which poses challenges to corporate business operations, ZTE will continue to adopt the business strategy of "precision and pragmatism for steady growth". ZTE aims to enhance its foresight, resilience and adaptability to uncertainties by positioning its business precisely, allocating resources efficiently, and optimizing processes continuously.

With its long-term expertise in ICT full-stack core capabilities, ZTE delivers a comprehensive and efficient digital foundation across network, cloud network, and computing power to customers worldwide. It also capitalizes on the opportunities arising from China's digital transformation and artificial intelligence applications. The overall performance in the first quarter of 2023 is secured steady growth, as it continues its operational efficiency and resilience.