ZTE's Strong Performance in the First Half of the Year: AI Empowerment, Synergistic Development of Connectivity and Computing Power

Tech 2024-08-17 17:28:40 Source: Network

ZTE's Strong Performance in the First Half of the Year: AI Empowerment, Synergistic Development of Connectivity and Computing Power On August 16, ZTE released its 2024 semi-annual financial report, showcasing the company's strong growth momentum amidst a complex and volatile external environment. It highlights ZTE's strength in technological innovation and market expansion

ZTE's Strong Performance in the First Half of the Year: AI Empowerment, Synergistic Development of Connectivity and Computing Power

On August 16, ZTE released its 2024 semi-annual financial report, showcasing the company's strong growth momentum amidst a complex and volatile external environment. It highlights ZTE's strength in technological innovation and market expansion. The report reveals that ZTE achieved operating revenue of RMB 62.49 billion in the first half of 2024, representing a year-on-year increase of 2.9%, while net profit attributable to the parent company reached RMB 57.3 billion, a year-on-year increase of 4.8%. The company's operating performance demonstrates steady growth.

Facing the new wave of technological revolution and industrial transformation driven by artificial intelligence, ZTE actively embraces AI technology, deepening its "connectivity + computing power" synergistic development strategy and propelling high-quality development.

In the operator network sector, ZTE continues to make breakthroughs in the international market, maintaining double-digit growth. While the domestic market is affected by the overall investment environment, it still exhibits a steady development trend. The company continues to hold the second-largest global shipment volume for 5G base stations and 5G core networks, ranking first in terms of the year-on-year growth rate of its global market share for optical network products. ZTE actively promotes the application and development of next-generation ICT technologies such as 5G-A and all-optical networks, collaborating with numerous global operators to achieve technological innovation and application landing, providing stable and reliable network support for various industries.

In the government & enterprise and consumer business sectors, ZTE aggressively expands, achieving rapid growth in revenue for both business segments, with year-on-year increases of 56.1% and 14.3% respectively, further solidifying its market position. Guided by the "AIforAll" strategic vision, the company has deployed a full range of AI terminal products, encompassing mobile phones, tablets, laptops, mobile internet, and more, constructing a full-scenario smart ecosystem 3.0. ZTE has established a leading position in areas like 5GFWA&MBB, gaming smartphones, PONCPE, IP set-top boxes, and cloud terminals, with its global market share steadily rising.

In the computing power domain, ZTE employs innovative practices, increasing R&D investment in computing power products and solutions, providing full-stack and full-scenario intelligent computing solutions. The company's independently developed Xingyun series of large models have yielded significant advancements in enhancing R&D efficiency and expanding application scenarios, accelerating the industrialization process of AI technology.

In terms of technology R&D, ZTE continues to ramp up investment, with R&D expenses reaching RMB 12.73 billion in the first half of the year, accounting for 20.4% of operating revenue. The company boasts a vast global patent portfolio, having filed over 90,000 global patent applications and accumulated over 46,000 globally authorized patents. Among these, the number of AI patent applications has approached 5,000, with over 2,000 authorized patents, providing solid technical support for the company's market competition in the digital intelligence era.

ZTE

Furthermore, ZTE actively promotes its digital transformation strategy, releasing the Digital Xingyun 3.0 platform integrating AI technology, collaborating with over 1,000 leading industry partners, and driving industrial upgrading in 15 sectors including industrial manufacturing, government affairs, transportation, energy, and culture and tourism. This accelerates the empowerment of thousands of industries with digital intelligence technologies.

Looking ahead, ZTE will continue to uphold its innovation-driven development strategy, strengthen core technology innovation, and accelerate the expansion and upgrade of its "connectivity + computing power + capability + intelligence" framework, collaborating with industry partners to jointly construct a bright future of high efficiency and intelligence.

Specifically, ZTE has achieved outstanding results in the following areas:

Connectivity: Continuously introducing innovative products and solutions, maintaining the second-largest global shipment volume for 5G base stations and 5G core networks, with the year-on-year growth rate of its global market share for optical network products ranking first.

Computing power: Consistently increasing R&D investment in computing power products and solutions, providing full-stack and full-scenario intelligent computing solutions. The independently developed Xingyun series of large models have achieved significant advancements in enhancing R&D efficiency and expanding application scenarios.

Terminal: Guided by the "AIforAll" strategic vision, deploying a full range of AI terminal products, constructing a full-scenario smart ecosystem 3.0. Achieving leading positions in multiple sectors, with its global market share steadily rising.

Digital Transformation: Releasing the Digital Xingyun 3.0 platform integrating AI technology, collaborating with over 1,000 leading industry partners, driving industrial upgrading.

Highlights of ZTE's first-half performance:

Steady growth in both operating revenue and net profit attributable to the parent company.

Actively embracing AI technology, deepening the "connectivity + computing power" synergistic development strategy.

Maintaining a leading position in the operator network sector, with continued breakthroughs in the international market and steady development in the domestic market.

Achieving rapid growth in the government & enterprise and consumer business sectors, further solidifying its market position.

Increasing R&D investment, possessing a vast global patent portfolio, and achieving notable achievements in the AI domain.

Promoting the digital transformation strategy, driving industrial upgrading.

Future Outlook:

ZTE will continue to uphold its innovation-driven development strategy, strengthen core technology innovation, and accelerate the expansion and upgrade of its "connectivity + computing power + capability + intelligence" framework, collaborating with industry partners to jointly construct a bright future of high efficiency and intelligence.

Summary:

ZTE's impressive performance in the first half of the year demonstrates the company's strong technological innovation capabilities and market expansion strength. The company actively embraces AI technology, deepening its "connectivity + computing power" synergistic development strategy, driving high-quality development, and laying a solid foundation for future growth.

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