ZTE Corporation announced its financial results for the first half of 2024, reporting revenue of RMB 62.49 billion (approximately USD 8.63 billion), a 2.9% increase year-on-year, and a net profit of RMB 5.73 billion (approximately USD 791 million), up 4.8% from the same period last year. Despite global challenges, ZTE experienced significant growth in its government-enterprise and consumer businesses, with revenues rising by 56.1% and 14.3%, respectively. The company also invested heavily in research and development, with R&D expenses totaling RMB 12.73 billion (approximately USD 1.76 billion), representing 20.4% of its operating revenue.
ZTE continued to innovate in the connectivity and computing sectors, achieving strong international growth and expanding its presence in emerging technologies such as AI, 5G-A, and optical networks. The company remains focused on enhancing its market competitiveness and is committed to further strengthening its digital and intelligent infrastructure. As ZTE advances its global strategy, it aims to build on its success by pursuing new opportunities and partnerships across various sectors.
- H1 2024 revenue: RMB 62.49 billion (approx. USD 8.63 billion), up 2.9% year-on-year.
- Net profit: RMB 5.73 billion (approx. USD 791 million), a 4.8% increase from the previous year.
- Government-enterprise and consumer business revenues grew by 56.1% and 14.3%, respectively.
- R&D expenses reached RMB 12.73 billion (approx. USD 1.76 billion), 20.4% of operating revenue.
- Significant focus on AI, 5G-A, and optical networks.
“We remain committed to technological innovation and the synergy of ‘connectivity + computing,’ contributing to stable overall performance and growth,” stated a ZTE spokesperson.
