Shenzhen, China, 28 February 2025 – ZTE Corporation (0763.HK / 000063.SZ), a global leading provider of integrated information and communication technology solutions, today reported full-year revenue of RMB 121.30 billion for 2024.
According to the company, during the period, net profit attributable to holders of ordinary shares amounted to RMB 8.42 billion, while net profit after extraordinary items attributable to holders of ordinary shares reached RMB 6.18 billion. Basic earnings per share were RMB 1.76. Net cash flows from operating activities totaled RMB 11.48 billion.
Meanwhile, the company proposed cash dividends for 2024, representing 35% of net profit attributable to holders of ordinary shares.
In 2024, the external environment remained complex and volatile, marked by adjustments in industry investment structures. Meanwhile, the application of technologies such as artificial intelligence, large models, 5G-A, and all-optical networks injected fresh momentum into the industry, leading to the emergence of new applications and business models.
In response to the complex environment and changes in the ICT industry structure, ZTE has solidified its position in the network industry while actively embracing the AI wave, focusing on the main track of computing power. In 2024, the company’s R&D expenses totaled RMB 24.03 billion, accounting for approximately 20% of revenue.
ZTE has meticulously cultivated the operator market, accelerated the expansion of its government and enterprise, and consumer businesses, enhanced operational efficiency, and strengthened business resilience to achieve steady growth. In 2024, the company’s domestic market revenue reached RMB 82.01 billion, accounting for 67.6%, while its international market revenue totaled RMB 39.29 billion, accounting for 32.4%. Revenue from the operator network, government and enterprise, and consumer businesses amounted to RMB 70.33 billion, RMB 18.56 billion, and RMB 32.41 billion, respectively, with revenue shares of 58.0%, 15.3%, and 26.7%. The revenue structure across the three business segments continued to optimize, with revenue from government and enterprise, and consumer businesses experiencing rapid growth.
In terms of the operator network, the domestic market maintained a stable market share. However, due to the overall investment environment, revenue faced pressure. The company has continued to enhance its intelligent computing solutions, accelerating the transition from full connectivity to a «connectivity + computing power» model, thereby expanding its market opportunities. Revenue from the international market grew steadily, with a stable increase in market share from traditional businesses. In the domain of new business, sectors such as data centers and new energy achieved scalable deployment.
For the government and enterprise business, the company increased its R&D investment to enhance the competitiveness of products such as servers, storage, data center switches, and other data center products. This scale expansion has allowed the company to enter the ranks of leading companies in sectors such as internet, finance, and power, driving a 36.7% year-on-year growth in government and enterprise business revenue.
For the consumer business, the company expanded its portfolio of AI-powered terminals across various forms. Revenue from home terminals, smartphones and mobile internet products all achieved growth, driving a 16.1% year-on-year increase in consumer business revenue. Revenue from smartphones, in particular, saw a more than 40% year-on-year increase.
