ZTE said that tet cash flows from operating activities totaled CNY 9.26 billion in the period
Chinese vendor ZTE said it has recorded an operating revenue of CNY 89.39 billion ($12.22 billion) for the first three quarters of the year.
In a release, the company said its net profit amounted to CNY 7.84 billion in the first nine months of the year, representing an increase of 15% year-on-year. Net cash flows from operating activities totaled CNY 9.26 billion, ZTE said.
“This year has seen a backdrop of global macroeconomic uncertainty, posing challenges to the ICT industry. Simultaneously, the thriving digital economy has ushered in fresh opportunities for the development of digital infrastructure,” ZTE said.
“Facing the evolving landscape and emerging prospects, ZTE has remained focused, pragmatic, and highly efficient, maintaining a stable overall performance in the first three quarters of the year. During this period, the company’s R&D investment amounted to CNY 19.06 billion, constituting 21.3% of its operating revenue, as part of its dedicated efforts to construct a comprehensive and efficient digital foundation for the industry,” the vendor added.
In H1 2023, the company’s operating revenue in the Chinese market had reached CNY 43.11 billion, accounting for 71% of its overall operating revenue. Additionally, the operating revenue from international markets reached CNY 17.59 billion in the first half of the year.
ZTE had reported operating revenues of CNY 122.95 billion in 2022, up 7.4% year-on-year, while its net profits had amounted to CNY 8.08 billion, an increase of 18.6% year-on-year.
In 2022, ZTE invested CNY 21.60 billion in R&D, which accounted for 17.6% of the total annual revenue.
The Chinese market represented 69.3% of ZTE’s overall operating revenue in 2022 while the operating revenue from international markets totaled 30.7% of its overall operating revenue.
