Investment Rating - The investment rating for the company is "Buy" (maintained) [2][3][10] Core Views - The company achieved steady revenue growth in 2023, with total revenue of 1242.51 billion yuan, a year-on-year increase of 1.05%, and a net profit attributable to shareholders of 93.26 billion yuan, up 15.41% year-on-year [3][4] - The gross margin improved to 41.53%, an increase of 4.34 percentage points year-on-year, while the net margin reached 7.44%, up 1.10 percentage points year-on-year [3][4] - The company is expected to benefit from the commercial rollout of 5G-A and ongoing construction of computing power facilities, supporting long-term growth [3][4] Financial Performance Summary - In 2023, the company's operator business generated revenue of 827.59 billion yuan, a year-on-year increase of 3.40%, with a gross margin of 49.11%, up 2.89 percentage points [4] - The consumer business revenue was 279.08 billion yuan, down 1.33% year-on-year, but the gross margin improved to 22.26%, an increase of 4.50 percentage points [4] - The enterprise business revenue declined by 7.14% to 135.84 billion yuan, but the gross margin increased by 9.59 percentage points to 34.94% [4] Research and Development - The company invested 267.83 billion yuan in R&D in 2023, a year-on-year increase of 14.34%, and holds 89,500 global patent applications and 45,000 granted patents [5]

Financial Performance and Key Metrics - Revenue in 2023 increased by 1.05% to 124,250.9 million RMB compared to 122,954.4 million RMB in 2022[14] - Net profit attributable to shareholders of the company increased by 15.41% to 9,325.8 million RMB in 2023 from 8,080.3 million RMB in 2022[14] - Operating cash flow surged by 129.70% to 17,405.7 million RMB in 2023 from 7,577.7 million RMB in 2022[14] - Total assets grew by 11.06% to 200,958.3 million RMB in 2023 from 180,953.6 million RMB in 2022[14] - Basic earnings per share increased by 14.62% to 1.96 RMB in 2023 from 1.71 RMB in 2022[15] - Weighted average return on equity (ROE) rose to 15.19% in 2023, up by 0.53 percentage points from 14.66% in 2022[15] - Revenue in Q4 2023 was 34,857.5 million RMB, the highest among all quarters in 2023[16] - Net profit attributable to shareholders in Q4 2023 was 1,484.6 million RMB, the lowest among all quarters in 2023[16] - Non-recurring gains and losses in 2023 totaled 1,926.2 million RMB, slightly up from 1,913.4 million RMB in 2022[18] - The company's debt-to-asset ratio decreased to 66.00% in 2023, down by 1.09 percentage points from 67.09% in 2022[15] - Software product VAT refund income reached 1,431.2 million yuan, driven by ongoing operational activities[19] - Revenue for 2023 reached 124.25 billion yuan, a 1.05% increase from 2022[120] - Net profit attributable to shareholders of the company was 9.33 billion yuan in 2023, up 15.4% from 2022[120] - Operating cash flow surged to 17.41 billion yuan in 2023, a 129.7% increase from 2022[120] - Total assets grew to 200.96 billion yuan in 2023, an 11.05% increase from 2022[120] - Debt-to-asset ratio improved to 66% in 2023, down from 67.09% in 2022[121] Dividend and Profit Distribution - The company proposed a profit distribution plan for 2023, offering a cash dividend of RMB 6.83 per 10 shares (tax included) to all shareholders[2] - The proposed 2023 profit distribution plan suggests a cash dividend of 6.83 yuan per 10 shares, with a total cash dividend not exceeding 3.303 billion yuan[151] - The cumulative distributable profit available to shareholders as of December 31, 2023, is approximately 25.22 billion yuan[151] - The company's cash dividends for 2023 amount to 3.27 billion yuan, accounting for 35.0% of the net profit attributable to ordinary shareholders[152] - The cumulative cash dividends for 2021-2023 are 6.58 billion yuan, representing 81.5% of the average annual net profit attributable to ordinary shareholders[152] - The company's 2022 annual profit distribution plan was approved, with a cash dividend of 4 yuan per 10 shares, totaling 1.895 billion yuan[150] Market and Business Performance - The company's GoldenDB distributed database achieved the top market share in the banking financial-grade distributed database market in 2022 and ranked first in the number of deployments in core, sub-core, and non-banking core systems in 2023[23] - The company's 5G base station shipments ranked second globally for four consecutive years, according to Dell'Oro Group[26] - The company's 5G core network shipments ranked second globally for four consecutive years, according to Dell'Oro Group[28] - The company's PowerPilot energy-saving solution reduced AAU power consumption to below 5W during idle periods, with RRU standby power consumption as low as 3W[26] - The company's SmartNIC intelligent network card improved forwarding performance by 2 times and saved 20% of CPU resources with the NEO cloud card[28] - The company's intelligent green UPF, based on R17 architecture, achieved a comprehensive power saving of over 25% with millisecond-level wake-up and zero service loss[28] - The company's operating system products have shipped over 200 million units globally, with applications in industries such as communications, automotive, and power[24] - The company's 5G-Advanced innovations included the deployment of a 5G vehicle-to-ground communication system in Shanghai, achieving a backhaul speed of over 2Gbps[27] - The company's Fit-it-all 5G private network products, including iCube, i5GC, Mini5GC, and Edge UPF, cater to diverse private network scenarios[28] - The company's 50G PON solution has been tested and piloted by over 30 global operators, accelerating its commercial maturity[29] - The company's OTN 400G port shipments achieved the highest year-over-year growth rate globally, according to Omdia 2023Q3 report[29] - The company's edge router products were upgraded to GlobalData Leader's highest rating in 2023[30] - The company's data center switch domestic market share growth rate ranked first year-over-year, according to IDC 2023Q3 report[32] - The company's new data center solutions achieved a PUE as low as 1.13, with applications in Jiangsu and Guizhou[33] - The company's lithium battery shipments for communication energy storage maintained a year-over-year growth rate of over 50%[35] - The company's 5G FWA & MBB market share remained globally first[36] - The company's PON CPE, DSL CPE, and IP set-top box shipments ranked globally first, according to Dell'Oro Group and Omdia 2023Q3 reports[37] - The company's cloud computer terminal shipments exceeded 300,000 units in 2023, ranking first in domestic operator cloud terminal market share[38] - The company launched the first domestically produced C-V2X enabled vehicle networking chip and chip-level SoC solution, collaborating with leading automakers like Changan, Dongfeng, and FAW for intelligent driving scenarios[39] - The company's vCDN solution has reduced related equipment CAPEX by 20% for operators through dynamic resource adjustment based on business demand[39] - The company's R&D efficiency model has improved code writing efficiency by 30% by assisting developers in tasks such as requirement analysis, product design, and coding[40] - The company's ZChain blockchain platform is the first in the industry to pass the "Trusted Blockchain Evaluation" for code self-research rate and domestic environment compatibility[41] - The company has developed over 1,000 Digital Nebula partners and created digital benchmark projects in 15 industries, including urban lifelines, water conservancy, and emergency response[42] - The company's 5G laser SLAM navigation AGV achieved large-scale application in a complex environment at the Lynk & Co Zhangjiakou factory, winning the national first prize in the 6th MIIT "Blooming Cup" competition[44] - The company has implemented 50+ projects with leading enterprises like Baowu Group, Ansteel Group, and State Power Investment Corporation, promoting digital transformation in the metallurgical steel industry[45] - The company has deployed 300+ projects nationwide in the mining sector, including the Zhongmei Shaanxi Da Haize Coal Mine 5G smart mining project, which won the 2023 GSMA 5G Energy Challenge Award[46] - The company assisted State Grid Shandong Electric Power in building China's first provincial-level 5G power demonstration network, which won the first prize in the 2023 World 5G Conference[47] - The company's urban lifeline solution, featuring the industry's only public-private integrated air-ground unmanned helicopter emergency communication solution, has been deployed in cities like Nanjing, Kunshan, and Changsha[50] R&D and Innovation - The company will continue to invest heavily in R&D for "connectivity + computing power" technologies, maintaining leading competitiveness in core products[8] - R&D expenses in 2023 were 25,289.2 million yuan, a year-on-year increase of 17.07%[69] - R&D expenses in 2023 reached 25,289.2 million yuan, a year-on-year increase of 17.07%, accounting for 20.35% of operating revenue, up 2.78 percentage points[71] - Total R&D investment in 2023 was 26,783.3 million yuan, a year-on-year increase of 14.34%, with the R&D investment to operating revenue ratio rising to 21.56%, up 2.51 percentage points[72] - The number of R&D personnel in 2023 was 35,393, a year-on-year decrease of 2.50%, but the proportion of R&D personnel to total employees increased to 49.09%, up 0.57 percentage points[72] Corporate Governance and Compliance - ZTE Corporation's 2023 annual financial report was audited by Ernst & Young Hua Ming LLP, which issued a standard unqualified audit opinion[2] - The company's 2023 annual report was approved at the 19th meeting of the 9th Board of Directors on March 8, 2024[2] - The report includes forward-looking statements about future plans and development strategies, which do not constitute substantive commitments to investors[2] - The report is prepared in both Chinese and English, with the Chinese version taking precedence in case of any discrepancies[2] - The report highlights the company's commitment to environmental and social responsibility, as well as corporate governance[3] - The company will strengthen its talent, compliance, and internal control strategies to build a high-resilience organization[9] - The company will integrate ESG principles throughout its operations and governance, aiming to bridge the digital divide and uphold its responsibility as a leading ICT enterprise[9] - The company has established a Compliance Management Committee to oversee compliance with laws and regulations that significantly impact its business and operations[118] - The company's Board of Directors consists of nine members, including three executive directors, three non-executive directors, and three independent non-executive directors[112] - The company's Supervisory Board consists of five members, including two shareholder representatives and three employee representatives[112] - The company's board of directors consists of 9 members, including 3 executive directors, 3 non-executive directors, and 3 independent non-executive directors, with 22% being female directors[159][161] - The board held 18 meetings in 2023, including 5 via teleconference and 13 via written resolution[163] - Key decisions in 2023 included approval of overseas project office leadership changes, asset sales, quarterly reports, and equity transfers in subsidiaries and affiliated companies[164] - The board's independent non-executive directors have professional qualifications and extensive experience in finance, law, and compliance[161] - The company has implemented a Board Diversity Policy, aiming to enhance diversity in gender, age, cultural background, and professional expertise[161] - The chairman and CEO roles are clearly separated, with the chairman responsible for board leadership and the CEO handling daily operations and management[162] - Board members have terms of 3 years, with independent non-executive directors limited to a maximum of 6 years[160] - The board ensures compliance with Hong Kong Stock Exchange Listing Rules and Corporate Governance Code[157] - The nomination committee reviewed the board's composition in 2023 and confirmed the current structure meets diversity requirements[161] - Board members attended all required meetings in 2023, with detailed records maintained for future reference[165] - The company held a total of 18 board meetings in 2023, with all directors attending the majority of meetings, except for Fang Rong and Zhuang Jiansheng, who each delegated attendance once[166] - Independent non-executive directors accounted for the majority of board committee members and served as conveners, actively participating in meetings and providing valuable insights[167] - Directors received ongoing professional development through training and seminars, with Li Zixue and Li Buqing attending external lectures on regulatory compliance and director responsibilities[168] - The company purchased directors' and officers' liability insurance to mitigate legal risks associated with their duties[169] - The Audit Committee held 6 meetings in 2023, reviewing financial reports, internal controls, and audit-related matters, and provided three review opinions on the company's financial statements[172][173] - The Audit Committee supervised the external audit process, holding three meetings with auditors to ensure timely progress and adherence to regulations[173] - The company's internal control and risk management systems were reviewed by the Audit Committee, with recommendations provided for improvement[173] - The Remuneration and Compensation Committee, consisting of 5 members, was responsible for setting and reviewing executive compensation and performance evaluation policies[174] - The Compensation and Assessment Committee held 4 meetings in 2023 to discuss and review senior management performance assessments, annual performance bonuses, and the 2020 stock option incentive plan[175] - The 2020 stock option incentive plan's second vesting period conditions were met, and adjustments were made to the number of exercisable options and participants, with some options being canceled[176] - The 2020 stock option incentive plan's third vesting period conditions were met, and adjustments were made to the number of exercisable options and participants, with some options being canceled[176] - The company's compensation policy for directors and senior management is determined based on their roles, performance, and the company's actual operating conditions[177] - The Nomination Committee held 1 meeting in 2023 to discuss board structure, diversity policies, and amendments to the Nomination Committee's working rules[179] - The Export Compliance Committee held 4 meetings in 2023 to discuss and review export compliance matters[182] - The company's independent directors held their first meeting in 2023 to review and approve daily related-party transactions for procurement, sales, and leasing[184] - The Supervisory Board held 7 meetings in 2023 to oversee the company's operations, financial status, stock option incentive plan, related-party transactions, and the performance of directors and senior management[185] Shareholder Information and Equity Structure - The company has a total of 403,259 shareholders as of December 31, 2023, with 402,955 A-share holders and 304 H-share holders[133] - As of February 29, 2024, the total number of shareholders increased to 476,911, with 476,607 A-share holders and 304 H-share holders[133] - The top 10 shareholders hold unrestricted shares, with the largest shareholder, ZTE New Communication Co., Ltd., holding 20.09% of the shares[134] - ZTE New Communication Co., Ltd. reduced its holdings by 46.9 million shares in 2023[134] - Hong Kong Securities Clearing Company Limited holds 15.73% of the shares, making it the second-largest shareholder[134] - The third-largest shareholder, Hong Kong Securities Clearing Company Limited (A-shares), increased its holdings by 11,034,954 shares in 2023[134] - The National Social Security Fund 113 Portfolio holds 0.95% of the shares, with a reduction of 22,011,136 shares in 2023[134] - The Central Huijin Asset Management Co., Ltd. holds 0.88% of the shares, with no change in holdings in 2023[134] - The Basic Pension Insurance Fund 802 Portfolio holds 0.66% of the shares, with a reduction of 16,304,780 shares in 2023[134] - The National Social Security Fund 110 Portfolio increased its holdings by 21,628,521 shares in 2023, holding 0.45% of the shares[134] - Total share capital increased by 47,139,044 shares to 4,783,251,552 shares due to the exercise of stock options[142][144] - BlackRock, Inc. holds 52,932,651 H-shares, representing 1.11% of total shares and 7.01% of H-shares[140] - Capital Research and Management Company holds 38,410,000 H-shares, representing 0.80% of total shares and 5.08% of H-shares[140] - The top five shareholders each hold 958,940,400 A-shares, representing 20.05% of total shares and 23.81% of A-shares[140] - Unlimited sale condition shares increased by 47,139,044 shares to 4,782,523,309 shares, accounting for 99.98% of total shares[142] - Restricted shares remained unchanged at 728,243 shares, accounting for 0.02% of total shares[142] - The company issued ultra-short-term financing bonds during the reporting period[144] - No changes in restricted shares for directors and senior management, totaling 728,243 shares[143] - The company has no internal employee shares or preferred shares[144] - The company's public shareholding meets the minimum requirements of the Hong Kong Stock Exchange Listing Rules[145] - Shareholders holding more than 10% of the company's shares can request or convene an extraordinary general meeting[145] - Shareholders holding more than 3% of the company's shares can propose temporary motions for the general meeting[145] Strategic Plans and Future Outlook - The company's overall operations remained stable and resilient in 2023, with continuous improvement in operational quality, despite facing challenges beyond growth[8] - The company plans to accelerate the expansion from connectivity to computing power, solidifying its position as a core supplier[8] - In 2024, the company aims to focus on strategic opportunities in digitalization, intelligence, and low-carbon technologies, while strengthening innovations in 5G-A, all-optical networks, computing infrastructure, AI large models, and 5G new applications[8] - The company will prioritize growth in 2024, enhancing existing markets, exploring new markets, and seizing variable opportunities, with a focus on improving the competitiveness of connectivity products and rapidly scaling up computing power-related businesses[9] - The company will deepen digital transformation and process optimization to improve overall operational and business flow efficiency[9] - The company will align with national high-quality development strategies, contributing to the global digital economy while creating value for customers, employees, shareholders, and society[9] - The company plans to accelerate the development of its second-curve business, focusing on computing power and AI-driven technologies[122]

Investment Rating - The report maintains a "Recommended" rating for the company with a current price of 30.18 yuan [7]. Core Insights - The company achieved a revenue of 124.25 billion yuan in 2023, representing a year-on-year growth of 1.05%, and a net profit attributable to shareholders of 9.33 billion yuan, up 15.41% year-on-year [3]. - The company plans to distribute a cash dividend amounting to 35% of the net profit attributable to shareholders for the year [3]. - The company has increased its R&D investment to 25.29 billion yuan in 2023, a growth of 17.07% year-on-year, with a focus on 5G, chips, servers, and storage technologies [5]. Revenue and Profitability - The company's main business remains stable, with significant improvements in profitability. The gross profit margin for 2023 was 41.53%, an increase of 4.34 percentage points year-on-year [4]. - The revenue from the operator network was 82.76 billion yuan, growing by 3.40% year-on-year, while the enterprise business revenue decreased by 7.14% to 13.58 billion yuan [4]. - The consumer business revenue was 27.91 billion yuan, down 1.33% year-on-year, primarily due to declines in international terminal and mobile product sales [4]. Future Projections - The company is expected to achieve net profits of 11.47 billion yuan, 13.21 billion yuan, and 15.84 billion yuan for the years 2024, 2025, and 2026, respectively, with corresponding PE ratios of 13, 11, and 9 [7][8]. - Revenue projections for 2024, 2025, and 2026 are 134.67 billion yuan, 145.87 billion yuan, and 156.25 billion yuan, with growth rates of 8.4%, 8.3%, and 7.1% respectively [8][9].

Financial Performance - ZTE Corporation reported a revenue of CNY 124,250.9 million in 2023, representing a 1.05% increase from CNY 122,954.4 million in 2022[19]. - The net profit attributable to shareholders increased by 15.41% to CNY 9,325.8 million in 2023, up from CNY 8,080.3 million in 2022[19]. - The net cash flow from operating activities surged by 129.70% to CNY 17,405.7 million in 2023, compared to CNY 7,577.7 million in 2022[19]. - Total assets grew by 11.06% to CNY 200,958.3 million in 2023, up from CNY 180,953.6 million in 2022[19]. - The weighted average return on equity increased to 15.19% in 2023, up from 14.66% in 2022[19]. - Basic earnings per share rose by 14.62% to CNY 1.96 in 2023, compared to CNY 1.71 in 2022[20]. - The gross profit margin for 2023 was 41.53%, up 4.34 percentage points year-on-year, driven by improvements in operator networks, government and enterprise, and consumer businesses[58]. - The domestic market revenue reached 86,485.4 million, with a year-on-year growth of 1.45%, accounting for 69.61% of total revenue[61]. - The international market revenue was 37,765.5 million, with a year-on-year increase of 0.15%, making up 30.39% of total revenue[62]. Dividend and Profit Distribution - The company reported a profit distribution plan for 2023, proposing a cash dividend of RMB 6.83 per 10 shares, subject to shareholder approval[3]. - The proposed cash dividend for 2023 is 6.83 CNY per 10 shares, with a total cash distribution not exceeding 3.303 billion CNY, representing 35.0% of the net profit attributable to shareholders of 9.33 billion CNY[148]. - The company has maintained a profit distribution policy of distributing no less than 30% of the average annual distributable profit over the last three years[146]. - As of December 31, 2023, the company has accumulated distributable profits of approximately 25.22 billion CNY[148]. Governance and Compliance - The company emphasizes compliance with laws and regulations affecting its operations, including data compliance and anti-corruption measures[113]. - The company has a dedicated compliance management committee overseeing various compliance areas[113]. - The board of directors is responsible for major operational decisions, ensuring independent and efficient governance[126]. - The company is committed to improving corporate governance practices and has reviewed its governance policies in 2023[152]. - The independent non-executive directors have extensive experience in finance, law, and compliance, contributing to the board's effectiveness[156]. Research and Development - The company maintained a strong focus on R&D in "connectivity + computing power + capabilities + intelligence" technologies, ensuring its core products remain competitive in the industry[24]. - Research and development investment amounted to CNY 26,783.3 million, a 14.34% increase from the previous year, representing 21.56% of total operating revenue, up by 2.51 percentage points[70]. - The company has 35,393 R&D personnel, representing 49.1% of the total workforce[200]. - The R&D budget has been increased to $GG million, focusing on next-generation telecommunications technology[189]. Market Strategy and Expansion - The company is focused on expanding its market presence and exploring new growth opportunities[12]. - The company is actively investing in AI technology, establishing multiple product lines and laboratories to support the development of intelligent computing solutions[25]. - The company is committed to digital transformation and green low-carbon development, positioning itself as a key player in the digital economy[25]. - The company is exploring potential mergers and acquisitions to enhance its product offerings and market reach, with a budget of $GG million set aside for this purpose[183]. Risk Management - The company is committed to managing foreign exchange risks through various strategies, including internal settlement management and the use of foreign exchange derivatives[120]. - The company faces interest rate risk primarily from interest-bearing liabilities, with total interest expenses affected by fluctuations in domestic and foreign currency interest rates[121]. - The company employs credit risk management measures, including credit investigations and insurance, to mitigate the impact of varying customer creditworthiness[122]. Corporate Social Responsibility - The company highlights the significance of ESG principles in its operations and governance[12]. - The company made approximately CNY 26.06 million in charitable donations in 2023[114]. - The company is committed to improving its environmental performance and promoting sustainable waste management[114]. Employee and Workforce - As of December 31, 2023, the total number of employees in the group is 72,093, with an average age of 34.6 years[199]. - Female employees account for approximately 23.9% of the total workforce, while male employees make up about 76.1%[199]. - The group employs 28,951 individuals with a master's degree, accounting for 40.2% of the total workforce[200]. - The company has a diverse hiring strategy focusing on gender, age, cultural and educational background, and professional experience[200].

Financial Reports and Approvals - The company approved the 2023 annual financial report, which will be submitted for shareholder review[5] - The company’s 2023 annual report and performance announcement were approved for submission to the shareholders[5] - The company’s audit committee provided a summary report on the 2023 audit work, which was approved unanimously[6] - The company’s 2023 sustainability report was approved and will be published[7] - The company approved the profit distribution plan for 2023, which will be submitted to the shareholders' meeting for review[28] Share Capital and Issuance - The total number of ordinary shares issued by the company increased from 4,613,434,898 to 4,783,251,552, with H shares accounting for 15.79% and domestic shares for 84.21%[7] - The registered capital of the company increased from RMB 4,613,434,898 to RMB 4,783,251,552[7] - The board has proposed to seek authorization from the shareholders' meeting for general issuance of additional shares, not exceeding 20% of the total issued share capital of A-shares and H-shares as of the resolution date[30] - The authorization period for the issuance of shares is from the approval date until the earlier of the next annual shareholders' meeting or the date of a special resolution to revoke or amend the authorization[30] Shareholder Rights and Voting - Shareholders with over 1% voting rights can propose independent non-executive director candidates, which will be decided by a vote at the shareholders' meeting[9] - The company emphasized that voting rights must be exercised based on the number of shares held, with each share granting one vote, excluding shares held by the company itself[8] - The company will separately count votes from minority investors on significant matters affecting their interests[8] - The company prohibits the collection of voting rights from shareholders in a paid or disguised paid manner[17] - The company has clarified the voting rights associated with unfilled or incorrectly filled ballots, treating them as abstentions[20] Independent Non-Executive Directors - Independent non-executive directors must meet specific independence criteria and cannot have significant relationships with the company or its major shareholders[9] - The company highlighted the importance of independent non-executive directors having at least five years of relevant work experience[9] - Independent non-executive directors must disclose reasons for resignation and ensure compliance with legal and company regulations regarding board composition[24] - Independent non-executive directors have special powers, including the ability to approve major related transactions and propose the convening of extraordinary shareholder meetings[24] - Independent non-executive directors must provide independent opinions on significant matters, including the nomination and dismissal of directors and senior management[12] Financial Performance and Projections - The company reported a revenue increase of 15% year-over-year, reaching $1.2 billion in the last quarter[22] - User data showed a growth of 25% in active users, totaling 5 million users by the end of the quarter[22] - The company provided a forward guidance of 10% revenue growth for the next quarter, projecting revenues of approximately $1.32 billion[22] - New product launches contributed to 30% of total sales, with the latest product generating $360 million in revenue[22] - The company completed a strategic acquisition, enhancing its product portfolio and expected to add $200 million in annual revenue[22] Corporate Governance and Committees - The audit committee is responsible for overseeing the internal audit system and communication with external auditors[13] - The compensation and assessment committee will research and propose standards for evaluating senior management performance[13] - The board has passed the resolution to modify the terms of the Compensation and Assessment Committee's working rules, focusing on performance management and equity incentive plans[27] External Guarantees and Investments - The company has set a threshold for external guarantees, requiring shareholder approval if the total amount exceeds 50% of the latest audited net assets[13] - Any external guarantees provided by the company must not exceed 30% of the latest audited total assets[13] - The company will require shareholder approval for any single guarantee amount exceeding 10% of the latest audited net assets[13] - The company approved external investments related to its main business, not exceeding 10% of the latest audited net assets[20] Sustainability and Future Plans - The management emphasized a commitment to sustainability, aiming for a 50% reduction in carbon emissions by 2025[22] - The company plans to enhance customer engagement through new digital platforms, expecting a 15% increase in customer retention rates[22] - The company plans to conduct hedging derivative transactions in 2024, with the proposal submitted for shareholder approval[6] - The company plans to provide guarantee limits for subsidiaries in 2024, pending shareholder approval[6] Share Buyback Program - The board has proposed a share repurchase authorization for the year 2024, allowing the board to repurchase up to 5% of the total issued shares[31] - The repurchase will be funded by the company's own funds or other legally compliant sources[31] - The board is authorized to determine the final repurchase plan and terms based on market conditions and the company's financial status[31] - The authorization period lasts until the earlier of the annual general meeting conclusion or a resolution to revoke or modify the authorization[32]

中兴通讯股份有限公司 二○二三年度独立非执行董事述职报告 作为中兴通讯股份有限公司（简称"中兴通讯"或"公司"）的独立非执行 董事（简称"独立董事"），我们遵照《中华人民共和国公司法》、《上市公司独 立董事管理办法》等法律、法规以及《中兴通讯股份有限公司章程》（简称"《公 司章程》"）的规定，诚信勤勉，忠实履行职责，在董事会中积极发挥"参与决 策、监督制衡、专业咨询"的作用，注重维护公司利益、维护全体股东特别是中 小股东的利益。现将我们在 2023 年度履行独立董事职责情况报告如下： （一）工作履历、专业背景及兼职情况 我们三位独立董事在金融、财务、法律、合规等方面拥有专业资历以及相应 的经验，并在履职过程中充分运用自身的专业和经验优势。关于我们的个人履历 具体如下： 蔡曼莉女士，于 1998 年毕业于中国人民大学会计学专业，获经济学学士学 位，于 2006 年获中央财经大学管理学硕士学位，于 2023 年获西南财经大学经济 学博士学位，具有中国注册会计师、中国注册税务师资格。于 2002 年至 2015 年 任职于中国证券监督管理委员会从事上市公司监管工作，先后任并购监管二处副 处长、监管一处处长，并任上市 ...

证券代码（A/H）：000063/763 证券简称(A/H)：中兴通讯 公告编号：202414 中兴通讯股份有限公司 关于按照《香港上市规则》公布 免責聲明 | 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 | | | --- | --- | | 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。 | | | 股票發行人現金股息公告 | | | 發行人名稱 | 中興通訊股份有限公司 | | 股份代號 | 00763 | | 多櫃檯股份代號及貨幣 | 不適用 | | 相關股份代號及名稱 | 不適用 | | 公告標題 | 截至2023年12月31日止年度之末期股息 | | 公告日期 | 2024年3月8日 | | 公告狀態 | 新公告 | | 股息信息 | | | 股息類型 | 末期 | | 股息性質 | 普通股息 | | 財政年末 | 2023年12月31日 | | 宣派股息的報告期末 | 2023年12月31日 | | 宣派股息 | 每 10 股 6.83 RMB | | 股東批准日期 | 有待公佈 | ...

中兴通讯股份有限公司 二〇二三年度董事会工作报告 2023 年，全球经济艰难复苏，不确定性已成常态，对 ICT 行业带来诸多变 数，在复杂的外部环境下，中兴通讯股份有限公司（简称"公司"）董事会认真 履行《中华人民共和国公司法》（简称"《公司法》"）、《上市公司治理准则》 等法律法规和《中兴通讯股份有限公司章程》（简称"《公司章程》"）赋予的 职责，勤勉尽责地开展董事会各项工作，引领公司战略落地，完善内控合规建设， 提升规范运作水平，切实维护公司和全体股东的合法权益，有效保障公司的良好 运作和可持续发展。 2023 年度董事会主要工作情况如下： 一、强化战略引领，提升经营质量 2023 年是公司"战略超越期"深化之年，在战略上，保持定力，心无旁骛沿 着公司规划的战略节奏，坚持技术先进性、创新驱动和应用牵引。公司坚持聚焦 "连接+算力"的主战场主航道，加快向"算力"拓展步伐；确保公司绿色、韧 性、可持续发展的同时，坚定地与国家高质量发展战略同频共振，自觉担负起时 代赋予科技企业的历史使命。在不断推动全球数字经济发展的进程中，为客户创 造价值，为员工成就梦想，为股东带来回报，为社会贡献力量。 面对复杂多变的外部形 ...

中兴通讯 2023 年度可持续发展报告 中兴通讯 2023 年度可持续发展报告 2024 年 3 月 1 / 91 | | | | 关于本报告 4 | | --- | | CEO 致辞 5 | | COO 致辞 6 | | 中兴通讯的 2023 8 | | 关于中兴通讯 8 | | 数说中兴通讯 2023 年 8 | | 奖项与认可 9 | | 可持续发展战略与管理 10 | | 可持续发展战略与治理 10 | | 实质性议题分析 11 | | 目标与年度进展 13 | | 利益相关方沟通与参与 15 | | 行稳致远，追求高质量增长 18 | | 强化治理，防范新兴风险 18 | | 稳步推进公司治理 18 | | 充分防控经营风险 19 | | BCM 强化企业韧性 20 | | 税务管理合规透明 21 | | 合规经营，保障业务稳健 23 | | 强化合规运营管理 23 | | 坚决遏制腐败贿赂 26 | | 稳固出口管制合规 28 | | 数据安全隐私保护 29 | | 完善强化举报体系 30 | | 以人为本，支持员工进步 32 | | 保障员工职场权益 32 | | 打造人才发展机制 36 | | ...

证券代码（A/H）：000063/763 证券简称(A/H)：中兴通讯 公告编号：202412 为了促进集团业务的顺利开展，公司及其子公司 2024 年度拟为子公司提供 合计不超过 4.15 亿美元担保额度，占公司 2023 年 12 月 31 日经审计的归属于上 市公司普通股股东净资产的 4.33%。 （一）公司为子公司提供担保额度的情况 公司2024年拟为3家子公司提供合计不超过3亿美元履约担保额度，用于销售 类项目。具体如下： 1、担保人：中兴通讯股份有限公司 2、被担保人：中兴通讯（孟加拉）有限公司、中兴通讯（泰国）有限公司、中 兴通讯印度尼西亚有限责任公司。被担保人情况及基本财务数据请见附录。 中兴通讯股份有限公司 关于二〇二四年度拟为子公司提供担保额度的公告 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（简称"公司"或"中兴通讯"）于2024年3月8日召 开第九届董事会第十九次会议，审议通过公司及其子公司2024年度拟为子公司提 供合计不超过4.15亿美元担保额度。根据《上市公司监管指引第8号——上市公司 资金往来、对外担保 ...