ZTE’s net profit in the third quarter of 2023 was 2.369 billion yuan, a year-on-year increase of 5.09%

News from this site on October 23, ZTE announced today its third quarter report for 2023. Its third quarter revenue was 28.688 billion yuan, a year-on-year decrease of 12.38%; Net profit was 2.369 billion yuan, a year-on-year increase of 5.09%. .

From January to September 2023, ZTE achieved operating income of 89.39 billion yuan, a year-on-year decrease of 3.42%; net profit attributable to the parent company was 7.84 billion yuan, a year-on-year increase of 14.97%.

This site found from the report that ZTE invested 19.06 billion yuan in R&D in the first three quarters, accounting for 21.3% of operating income.

ZTE stated that the company is making all-round efforts at three levels: "core bottom layer breakthroughs, infrastructure and capability upgrades, and production and transaction efficiency improvements."

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