Chinese telecom giant ZTE Corporation announced a revenue of RMB 29.14 billion for the first quarter of 2023, a 4.3% year-on-year increase.
Likewise, ZTE’s Q1 2023 results show that the net profit attributable to holders of ordinary shares of the company reached RMB 2.64 billion, a 19.2% increase compared to the same period last 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%. Additionally, its net cash flows from operating activities increased by 95.9% to RMB 2.33 billion, compared to the same period last year.
These impressive financial results can be attributed to the company’s adoption of a “precision and pragmatism for steady growth” business strategy. Even with the global environment remaining complex and volatile in 2023, ZTE aims to enhance its foresight, resilience and adaptability to uncertainties by positioning its business precisely, allocating resources efficiently, and optimizing processes continuously.
