China’s ZTE booked double-digit revenue growth across its three main business units in the first half of 2022, with gains in both domestic and overseas sales.
In a statement, the company highlighted that despite the challenges of the pandemic and complex external environment, it was able to secure stable supplies and improve its operational efficiency.
Net profit in the six-month period grew 65.8 per cent year-on-year to CNY3.7 billion ($538.9 million), with total revenue growing 12.7 per cent to CNY59.8 billion. Domestic sales increased 12.9 per cent to CNY40.6 billion, while international turnover was up 12.3 per cent to CNY19.2 billion.
Revenue from its carriers network unit increased 10.5 per cent to CNY38.7 billion, driven by demand for 5G and fibre rollouts across the world. The company said it has signed 5G deals with more than 110 operators. In China, it won contracts from the operators for major cloud network upgrades.
Its consumer business grew 16.5 per cent to CNY14.4 billion, while revenue in its government and corporate business increased 18.3 per cent to CNY6.7 billion.
H1 R&D spending increased 14.6 per cent to reach CNY10.15 billion, accounting for 17 per cent of total operating revenue, up from 16.7 a year earlier.