ZTE’s profit rises as margins improve
ZTE 763, -2.90% 000063, -1.62% grew its net profit by 15% in 2023 as margins improved, while its revenue ticked up slightly.
From the Equity Insider archive. This article dates from Mar 10, 2024 and is preserved as first published.
ZTE 763, -2.90% 000063, -1.62% grew its net profit by 15% in 2023 as margins improved, while its revenue ticked up slightly.
The telecommunications equipment maker said late Friday that its profit came at 9.33 billion yuan ($1.30 billion) for last year, up 15% from 2022.
The telecommunications equipment maker said late Friday that its profit came at 9.
Revenue was CNY124.25 billion, compared with CNY122.95 billion in 2023, supported by the carriers’ network business. The segment, which contributes most of ZTE’s revenue, had 3.4% growth in revenue thanks to higher contributions from wireless and wireless products, the company said.
ZTE’s 2023 gross profit margin came in at 41.53%, an increase of 4.34 percentage points. It attributed the rise to margin improvements for the carriers’ network segment, the government and corporate business, and its consumer business.
ZTE declared a final dividend of CNY6.83 per 10 shares.
