Group 1: Financial Performance - In 2025, the company's revenue reached 629 billion CNY, a year-on-year increase of 10.4%, marking the best performance in four years [2] - The company's revenue structure shifted from "7-2-1" to "2-1-1," indicating a diversified growth model [3] - The computing power business achieved a 150% year-on-year revenue growth, accounting for nearly 25% of total revenue [4] Group 2: Strategic Direction - The company is committed to the "Connection + Computing Power" dual-drive strategy, focusing on becoming a leader in network connectivity and intelligent computing [4] - The company aims to maintain strategic stability and enhance quality and profitability through resource optimization and ecological collaboration [5] - The focus on AI is evident, with the company developing a full-stack AI solution covering chips, computing infrastructure, large models, and applications [6] Group 3: Market Position and Challenges - The company remains a leading supplier in the domestic network equipment market despite a 10.6% decline in network business revenue due to reduced domestic 5G investment [22] - The company faces challenges in profit margins due to rising raw material costs, particularly in storage [21] - The company is adapting to the AI-driven transformation of operators, focusing on new opportunities in computing power and AI applications [23] Group 4: Technological Advancements - The company has made significant investments in 6G technology, focusing on AI integration and satellite communication as core applications [24] - The company has developed over 30 key technologies in the 6G field, including advancements in AI and wireless technology [25] - The company is leveraging its extensive experience in communication technology to enhance its satellite payload capabilities [27] Group 5: Product Development and Innovation - The company plans to strengthen its terminal product innovation, particularly in AI-native smartphones and gaming devices [5] - The company has launched the AI-native Nubia M153 smartphone, showcasing its commitment to integrating AI into consumer products [4] - The company aims to enhance its product offerings by focusing on scenario-based integration and innovation in terminal products [5]

Group 1 - The company "月之暗面" is considering an IPO in Hong Kong and has engaged with China International Capital Corporation and Goldman Sachs for potential listing discussions, with a valuation of approximately $18 billion after a new funding round of up to $1 billion [3] - Pinduoduo has established a new company called "新拼姆" with an initial cash injection of 15 billion yuan, aiming to invest a total of 100 billion yuan over three years to enhance its self-operated brand model and integrate supply chain resources [5] - Lin Junyang, former head of Alibaba's Qianwen technology, published an article discussing the evolution from reasoning to agentic thinking in AI, emphasizing the need for a unified system that combines thinking and instruction modes [6] Group 2 - Xiaomi's automotive division reached a settlement with 山东燕鲁新能源车业有限公司 regarding a patent dispute, marking the first public patent controversy since its market entry [7] - Skoda will continue sales in China until mid-2026, after which it will focus on high-growth markets like India and ASEAN, while still providing after-sales support to existing customers [7] - Xiaomi has officially ceased updates for MIUI, transitioning to the new HyperOS, with only two overseas devices continuing to receive support until 2026 [7] Group 3 - Meta announced a new initiative to support small businesses and promote AI applications, led by its president and product head, with a focus on enhancing business growth through its platform [16] - Liu Qiangdong's company is investing 15 billion yuan in a yacht manufacturing base in Dalian, aiming to develop high-end yacht production and services [16] - Evergrande New Energy Vehicle Investment Holding Group has been subjected to a bankruptcy review initiated by a bank, indicating ongoing financial distress [18][19] Group 4 - Meituan reported a total revenue of 364.9 billion yuan for 2025, with a net loss of 23.4 billion yuan, primarily due to intense competition in the instant retail sector [22] - Apple is planning to open Siri to external AI assistants, enhancing its position as an AI platform, with updates expected in the upcoming iOS 27 [25] - Google has launched a new AI model, Lyria 3 Pro, designed for music creation, allowing users to compose longer and more structured audio pieces [29]

香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其準確 性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而産生或 因倚賴該等內容而引致的任何損失承擔任何責任。 ZTE CORPORATION 中興通訊股份有限公司 （於中華人民共和國註冊成立的股份有限公司） （股份代號：00763） 關於召開 2025 年度業績說明會並徵集問題的公告 本公司及董事會全體成員保證信息披露的內容真實、準確和完整，沒有虛假記載、誤導性陳 述或重大遺漏。 中興通訊股份有限公司（以下簡稱"公司"）擬於 2026 年 3 月 30 日召開 2025 年度業績說 明會，業績說明會將採用網絡直播的方式舉行，歡迎廣大投資者積極參與。 1、召開時間：北京時間 2026 年 3 月 30 日（星期一）16:00-17:30 2、召開方式：網絡直播 3、出席人員：執行董事、總裁徐子陽先生，執行副總裁、財務總監李瑩女士，執行副總 裁、首席運營官謝峻石先生，董事會秘書、公司秘書丁建中先生。 4、會議語言：中文 5、接入方式：投資者可登陸全景網（https://ir.p5w.net/c/000063/）參與 ...

ZTE Corporation (the "Company") – Notice of Publication of 2025 Annual Report ("Current Corporate Communication") and 2025 Sustainability Report The English and Chinese versions of the Company's Current Corporate Communication are available on the Company's website at www.zte.com.cn and the HKEXnews website of The Stock Exchange of Hong Kong Limited (the "Stock Exchange") at www.hkexnews.hk. As a non-registered shareholder, if you wish to receive Corporate Communications(2) from the Company pursuant to the ...

ZTE CORPORATION 中興通訊股份有限公司 (a joint stock limited company incorporated in the People's Republic of China with limited liability) （於中華人民共和國註冊成立的股份有限公司） (Stock Code / 股份代號：00763) Dear registered holder, 27 March 2026 ZTE Corporation (the "Company") Notice of Publication of 2025 Annual Report ("Current Corporate Communication") and 2025 Sustainability Report The English and Chinese versions of the Company's Current Corporate Communication are available on the Company's website at www.zte.com.cn and the HKEXnew ...

中興通訊 2025 年度可持續發展報告 中興通訊股份有限公司 2025 年度可持續發展報告 2026 年 3 月 1 / 178 | | | | CEO 致辭 | | 6 | | --- | --- | --- | | COO | 致辭 | 8 | | 關于中興通訊 | | 10 | | 公司概况 10 | | | | 我們的價值鏈 11 | | | | 獎項與認可 11 | | | | 我們的影響 | | 13 | | 彌合數字鴻溝，共創包容未來 16 | | | | 賦能千行百業，融繪數字時代 20 | | | | 可持續發展戰略與管理 | | 25 | | 治理 25 | | | | 戰略 27 | | | | 風險管理 29 | | | | 指標與目標 30 | | | | 雙重重要性分析 34 | | | | 治理 | | 48 | | 强化治理，防範新興風險 48 | | | | 合規經營，保障業務穩健 54 | | | | 環境 | | 70 | | 全力應對氣候變化 70 | | | | 扎實推進循環經濟 84 | | | | 强化環境影響管理 88 | | | | 社會 | | 92 | | ...

本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、误导性陈述 或重大遗漏。 证券代码（A/H）：000063/00763 证券简称(A/H)：中兴通讯 公告编号：202621 中兴通讯股份有限公司 关于召开 2025 年度业绩说明会并征集问题的公告 公司现就 2025 年度业绩和经营情况提前向投资者征集相关问题，敬请投资者于 2026 年 3 月 28 日中午 12 时前将关注问题发送至公司投资者关系邮箱（IR@zte.com.cn）， 公司将于 2025 年度业绩说明会上对投资者普遍关注的问题进行回答。 三、咨询方式 如有不明事宜，敬请联系公司，联系方式如下： 中兴通讯股份有限公司（以下简称"公司"）拟于 2026 年 3 月 30 日召开 2025 年 度业绩说明会，业绩说明会将采用网络直播的方式举行，欢迎广大投资者积极参与。 一、业绩说明会的安排 1、召开时间：北京时间 2026 年 3 月 30 日（星期一）16:00-17:30 2、召开方式：网络直播 3、出席人员：执行董事、总裁徐子阳先生，执行副总裁、财务总监李莹女士，执 行副总裁、首席运营官谢峻石先生，董事会秘书、公司秘书 ...

Revenue Growth and Financial Performance - In 2025, the company reported a return to revenue growth, driven by its "Connectivity + Computing Power" strategy[6]. - The company's operating revenue for 2025 is projected to be CNY 133,895.5 million, representing a 10.38% increase from CNY 121,298.8 million in 2024[24]. - Net profit attributable to shareholders is expected to decline to CNY 5,617.7 million, a decrease of 33.32% compared to CNY 8,424.8 million in 2024[24]. - The net profit after deducting non-recurring gains and losses is forecasted to be CNY 3,370.4 million, down 45.45% from CNY 6,179.1 million in 2024[24]. - The net cash flow from operating activities is anticipated to drop to CNY 3,918.7 million, a significant decline of 65.86% from CNY 11,479.8 million in 2024[24]. - The total assets are projected to increase to CNY 217,739.4 million, reflecting a growth of 5.02% from CNY 207,323.2 million in 2024[24]. - The weighted average return on equity is projected to decline to 7.58%, down from 11.97% in 2024, a drop of 4.39 percentage points[24]. - The company’s other income for 2025 was 2,886.8 million, a slight decrease of 1.57% year-on-year, remaining relatively stable compared to the previous year[99]. Market Strategy and Business Focus - The company aims to optimize its business portfolio and resource allocation, focusing on high market capacity and growth potential[7]. - The overseas market presents significant opportunities, particularly in large state-owned enterprises and Chinese companies expanding abroad[8]. - The strategic goal is to become a leader in network connectivity and intelligent computing power, navigating industry cycles effectively[8]. - The company plans to enhance its innovation capabilities through cross-disciplinary integration, aiming to empower customers with integrated solutions[8]. - The company is focusing on AI technology integration in its operations, enhancing network optimization and resource scheduling[72]. - The company is committed to expanding its international market presence by leveraging opportunities in data centers, cloud computing, and digital transformation projects[180]. Technological Innovations - The company launched the industry's first smart gaming phone, achieving breakthroughs in international markets, particularly in esports[6]. - The company introduced AI technology to enhance the User Plane Function (UPF), improving business identification and experience measurement capabilities[13]. - The deployment of the Active Antenna Unit (AAU) is crucial for 5G base stations, responsible for transmitting and receiving RF signals[13]. - The Digital Coherent Optics (DCO) technology supports data transmission rates of 100G and above, widely applied in metropolitan networks and data center interconnections[13]. - The Optical Circuit Switching (OCS) technology enables low-latency, high-bandwidth optical interconnections, suitable for AI computing clusters and data centers[14]. - The company has developed a large model for medical examination scenarios, successfully implemented in multiple hospitals, and partnered with the Health Examination Group to create an AI intelligent examination integration machine[68]. Environmental and Social Responsibility - The company has maintained a leadership A rating in climate change for three consecutive years, reflecting its commitment to green development[6]. - The company emphasizes sustainable development, integrating ESG practices into its strategy to address stakeholder needs[189]. Shareholder and Financial Management - The profit distribution plan for 2025 proposes a cash dividend of RMB 4.11 per 10 shares, subject to shareholder approval[4]. - The company’s capital expenditure for 2025 was 4,272.5 million, a decrease from 5,021.8 million in 2024[122]. - The company has no significant equity acquisitions or non-equity investments during 2025[136]. - The company did not repurchase, sell, or redeem any listed securities during the reporting period, and there are no treasury shares as of December 31, 2025[128]. - The company has established several new subsidiaries in 2025, expanding its consolidated financial reporting scope[85]. Customer and Market Dynamics - The domestic operator market will focus on stabilizing network structures and exploring incremental space through demand[8]. - The company achieved a market share increase in the domestic market for wireless products, while also expanding its international presence in countries like Indonesia, Vietnam, and several others[79]. - The company ranked first in market share for smart computing servers in China, participating in various national projects and achieving significant growth in data center switches[80]. - The group has maintained a leading position in the smart home sector, with over 100 million units shipped for two consecutive years, and holds the number one global market share for PON CPE for five years running[50]. Risk Management and Financial Strategy - The group emphasizes risk management in derivative trading, focusing on hedging against currency and interest rate fluctuations, and prohibits speculative activities[150]. - The company actively manages customer credit risk through credit assessments, ratings, and internal credit management measures, utilizing financial tools like credit insurance[188]. - Interest rate risk is managed by controlling the total amount of interest-bearing debt and optimizing the debt structure, including the use of interest rate swaps[186].

Group 1 - The Dawan District ETF Ping An (512970) opened with a gain of 1.73%, priced at 1.472 yuan [1][2] - Major holdings of the ETF include China Ping An, Luxshare Precision, BYD, and others, with mixed performance among these stocks [1] - The ETF's performance benchmark is the CSI Guangdong-Hong Kong-Macao Greater Bay Area Development Theme Index, managed by Ping An Fund Management Co., Ltd. [2] Group 2 - Since its establishment on September 23, 2019, the ETF has achieved a return of 44.66%, while the return over the past month has been -5.61% [2] - A MACD golden cross signal has formed, indicating potential upward momentum for certain stocks [3]

ZTE CORPORATION 中興通訊股份有限公司 （於中華人民共和國註冊成立的股份有限公司） 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告的內容概不負責，對其 準確性或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容 而產生或因倚賴該等內容而引致的任何損失承擔任何責任。 （股份代號：00763） 海外監管公告 本公告乃根據香港聯合交易所有限公司證券上市規則第13.10B條而作出。 茲載列中興通訊股份有限公司（「本公司」）在深圳證券交易所網站發布的以下公告全文， 僅供參閱。 承董 事會 命 方榕 董事長 深圳，中國 二零二六年三月二十三日 於本公告日期，本公司董事會包括執行董事：徐子陽；非執行董事：方榕、閆俊武、諸 為民、張洪；獨立非執行董事：莊堅勝、王清剛、徐奇鵬；以及職工董事：李妙娜。 1 证券代码（A/H）：000063/00763 证券简称(A/H)：中兴通讯 公告编号：202620 中兴通讯股份有限公司 关于参与认购的建兴湛卢基金完成备案登记的公告 本公司及董事会全体成员保证信息披露的内容真实、准确和完整，没有虚假记载、误导性陈述 或重大遗漏。 中兴通讯股份有限公司 ...