Zte Corporation’s Net Profit Rose 28.5% in First Quarter of 2023

Zte Corporation (中兴通讯股份有限公司) (000063.SZ) reported a net profit of 2.6 billion yuan in the first quarter of 2023, up 28.5% year-on-year.

Meanwhile, the company posted 29.1 billion yuan in revenue, up 4.3% year-on-year.

At the end of the reporting period, it had 184 billion yuan in total assets and 122.1 billion yuan in total liabilities, with a liability-to-asset ratio of 66.3%.