ZTE explained that the external environment remained complex and volatile last year, marked by adjustments in industry investment structures
Chinese vendor ZTE Corporation reported full-year revenue of CNY 121.30 billion ($16.65 billion) for 2024, the vendor said in a release.
During last year, net profit attributable to holders of ordinary shares amounted to CNY 8.42 billion, while net cash flows from operating activities totaled CNY 11.48 billion.
ZTE explained that the external environment remained complex and volatile last year, 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,” the vendor said.
“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,” it added.
In 2024, the company’s domestic market revenue reached CNY 82.01 billion, accounting for 67.6% of overall revenue, while its international market revenue totaled CNY 39.29 billion, accounting for 32.4%. Revenue from the operator network, government and enterprise and consumer businesses amounted to CNY 70.33 billion, CNY 18.56 billion and CNY 32.41 billion, respectively. “The revenue structure across the three business segments continued to optimize, with revenue from government and enterprise, and consumer businesses experiencing rapid growth,” ZTE said.
ZTE also highlighted that 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, it added.
For the government and enterprise business, the company noted it had 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 vendor to significantly increase its participation in sectors such as internet, finance, and power, driving a 36.7% year-on-year growth in government and enterprise business revenue.
During 2024, ZTE also said it seized opportunities in 5G-Advanced (5G-A) and all-optical network fields. In the 5G-A space, ZTE completed over 100 low-altitude sensing and communication pilots across 25 provinces and cities in China. In all-optical networks, the company built the first inter-provincial 400G OTN backbone network, connected national computing hubs and achieved large-scale commercial shipments of 800G pluggable OTN ports. Meanwhile,
“Moving forward, ZTE will continue to embrace AI, strengthening its core capabilities in the “network-computing-terminal-energy” domain. By establishing an agile organization, the company aims to enhance both efficiency and effectiveness. ZTE will also collaborate with global partners to shape a sustainable future that is highly efficient, green and intelligent,” the vendor added.
ZTE announced it will showcase ten innovations at MWC Barcelona 2025. These advancements cover evolving wireless access, the integration of AI technology and next-gen communication,
