Core Insights - ZTE Corporation reported a revenue of 71.55 billion yuan for the first half of 2025, representing a year-on-year growth of 14.5% [2] - The net profit attributable to shareholders was 5.06 billion yuan, with a non-recurring net profit of 4.1 billion yuan [2] - The company’s strategy focuses on AI and ICT integration, aiming to enhance market share both domestically and internationally [2] Financial Performance - Revenue breakdown: Domestic market revenue was 50.62 billion yuan (70.7% of total), while international market revenue was 20.93 billion yuan (29.3% of total), with year-on-year growth of 17.5% and 7.8% respectively [2] - Business segment performance: Revenue from carrier networks was 35.06 billion yuan, from government and enterprise was 19.25 billion yuan, and from consumer business was 17.24 billion yuan [2] - The second curve revenue, represented by computing and terminal products, grew nearly 100% year-on-year, accounting for over 35% of total revenue [2] R&D and Innovation - R&D expenses totaled 12.66 billion yuan, approximately 18% of total revenue [3] - The company holds around 94,000 global patent applications, with over 50,000 patents granted [3] - In the AI sector, ZTE has nearly 5,500 patent applications, with almost half already authorized; in the chip sector, there are about 5,700 applications with over 3,700 granted [3]

Group 1 - The Terahertz concept sector increased by 4.20%, ranking 8th among concept sectors, with 19 stocks rising, including Changfei Optical Fiber which hit the daily limit, and others like Chuangyuan Xinke, Hengtong Optic-Electric, and ZTE Corporation showing significant gains of 8.68%, 8.52%, and 7.53% respectively [1] - The top concept sectors for the day included Copper Cable High-Speed Connection at 5.61%, Co-Packaged Optics (CPO) at 5.13%, and F5G Concept at 5.12%, while sectors like Genetically Modified and Alzheimer’s Concept saw declines of -1.81% and -1.07% respectively [1] - The Terahertz concept sector attracted a net inflow of 2.345 billion yuan, with 11 stocks receiving net inflows, and 5 stocks exceeding 50 million yuan in net inflow, led by ZTE Corporation with 1.352 billion yuan [1] Group 2 - In terms of capital inflow ratios, Changfei Optical Fiber, Hengtong Optic-Electric, and Shuo Beid ranked highest with net inflow rates of 28.85%, 12.33%, and 8.37% respectively [2] - The top stocks in the Terahertz concept based on capital inflow included ZTE Corporation with a daily increase of 7.53% and a turnover rate of 8.77%, followed by Hengtong Optic-Electric at 8.52% and Shuo Beid at 7.32% [2] - Other notable stocks included Changfei Optical Fiber with a 10.00% increase and a turnover rate of 1.48%, indicating strong investor interest [2]

Core Viewpoint - The 6G concept sector has shown a significant increase of 4.26%, ranking 7th among concept sectors, with notable stocks experiencing substantial gains [1][2]. Market Performance - As of August 28, the 6G concept sector saw 66 stocks rise, with top performers including Sanwei Communication, Woge Optoelectronics, and Chongda Technology hitting the daily limit up [1]. - The leading gainers in the sector were Dongtian Microelectronics, Mingyang Circuit, and Chuangyuan Xinke, with increases of 15.38%, 8.77%, and 8.68% respectively [1]. - Conversely, stocks such as Qiyuan Er, Zhizhen Technology, and Cixing Co. experienced declines of 3.06%, 1.56%, and 1.14% respectively [1]. Capital Flow - The 6G concept sector attracted a net inflow of 4.422 billion yuan, with 35 stocks receiving net inflows, and 11 stocks exceeding 100 million yuan in net inflow [2]. - ZTE Corporation led the net inflow with 1.352 billion yuan, followed by Hengtong Optoelectronics, Huagong Technology, and Sanwei Communication with net inflows of 615 million yuan, 515 million yuan, and 482 million yuan respectively [2]. Stock Performance Metrics - Notable stocks in the 6G concept sector included: - ZTE Corporation: 7.53% increase, 8.77% turnover rate, and a net inflow of 1.351 billion yuan [3]. - Hengtong Optoelectronics: 8.52% increase, 10.09% turnover rate, and a net inflow of 615 million yuan [3]. - Huagong Technology: 5.78% increase, 10.30% turnover rate, and a net inflow of 515 million yuan [3]. - Sanwei Communication: 10.06% increase, 12.91% turnover rate, and a net inflow of 481 million yuan [3]. Additional Insights - The highest net inflow ratios were observed in Sanwei Communication (52.53%), Teifa Information (25.21%), and Woge Optoelectronics (22.87%) [3].

Market Overview - The Shanghai Composite Index rose by 1.14% on August 28, with 22 out of 28 sectors experiencing gains, led by the communication and electronics sectors, which increased by 7.14% and 5.53% respectively [1] - The coal and agriculture sectors saw declines of 0.81% and 0.73% respectively [1] Fund Flow Analysis - The main funds in the two markets experienced a net outflow of 44.343 billion yuan, with five sectors seeing net inflows [1] - The electronics sector had the highest net inflow of 10.553 billion yuan, followed by the communication sector with a net inflow of 4.998 billion yuan [1] Communication Sector Performance - The communication sector increased by 7.14% with a total net inflow of 4.998 billion yuan, where 104 out of 125 stocks rose, including 5 that hit the daily limit [2] - The top three stocks by net inflow in the communication sector were ZTE Corporation with 1.352 billion yuan, followed by NewEase with 1.053 billion yuan, and Tianfu Communication with 700 million yuan [2] Communication Sector Fund Outflow - The communication sector also had stocks with significant net outflows, with Data Port leading at 205.516 million yuan, followed by Yiyuan Communication and Yongding Co. with outflows of 165.283 million yuan and 162.087 million yuan respectively [3]

Core Insights - ZTE Corporation reported a revenue of approximately 71.55 billion yuan for the first half of 2025, representing a year-on-year growth of 14.51% [1] - The net profit attributable to shareholders decreased to about 5.06 billion yuan, down 11.77% year-on-year, with basic earnings per share at 1.06 yuan [1] Domestic Market Performance - The domestic market revenue reached approximately 50.62 billion yuan, growing by 17.55% year-on-year, accounting for 70.74% of total revenue [1] - The gross margin was 33.69%, a decline of 8.74 percentage points year-on-year [1] - The company is focusing on deepening its presence in wireless and wired products while expanding into smart data center projects and future technology directions like 10G access [1] International Market Performance - The international market revenue was approximately 20.94 billion yuan, with a year-on-year increase of 7.77%, making up 29.26% of total revenue [2] - The gross margin for international operations was 29.45%, down 6.57 percentage points year-on-year [2] - The company is leveraging opportunities in the Asia-Pacific region, Africa, and Latin America, focusing on key operators and infrastructure modernization [2] Business Segments - For operator clients, ZTE is maintaining its strategy focused on major operators and enhancing its market position through key product offerings [2] - In the enterprise sector, the company is capitalizing on the overseas expansion of Chinese enterprises and the acceleration of data center and server infrastructure construction in major countries [2] - Consumer business saw a robust growth in revenue, driven by the success of the dual-brand strategy and innovative products like the cloud PAD, which sold over 1 million units in the first half of the year [1][2]

Financial Performance - The company reported a revenue of approximately 71.55 billion yuan for the first half of 2025, representing a year-on-year increase of 14.51% [1] - The net profit attributable to shareholders was approximately 5.06 billion yuan, a decrease of 11.77% year-on-year [1] - The basic earnings per share were 1.06 yuan [1] Market Segments - In the domestic market, revenue was approximately 50.62 billion yuan, with a year-on-year growth of 17.55%, accounting for 70.74% of total revenue [1] - The gross margin in the domestic market was 33.69%, down by 8.74 percentage points year-on-year [1] - The international market revenue was approximately 20.94 billion yuan, with a year-on-year increase of 7.77%, making up 29.26% of total revenue [2] Business Strategies - The company is focusing on the operator market by deepening its wireless and wired product offerings and optimizing market structure, while also expanding into future technology areas like 10G access [2][3] - In the enterprise market, the company is capitalizing on increased investments from leading domestic internet companies and industry players, resulting in a significant growth in intelligent computing server revenue [2] - The consumer segment saw a stable growth in revenue, driven by the success of the innovative dual-function cloud PAD, which sold over 1 million units in the first half of the year [2] Regional Focus - The company is leveraging opportunities in the Asia-Pacific region, Africa, and Latin America, focusing on network modernization and fiber construction [3] - The company is also expanding its presence in Southeast Asia, Africa, and the Middle East through its dual-brand strategy of "ZTE + Nubia," achieving double-digit growth in mobile product revenue [3]

Core Insights - ZTE Corporation reported a significant increase in revenue from its government and enterprise business, with a year-on-year growth of 109.93% [4] - Overall revenue for the first half of the year reached 71.55 billion yuan, representing a 14.51% increase compared to the previous year [2][4] - However, the company's net profit decreased by 11.77% to 5.06 billion yuan, and the net profit excluding non-recurring items fell by 17.32% to 4.10 billion yuan [2][5] Financial Performance - The overall gross margin for the company was 32.45%, down 7.99% year-on-year [5] - The cash flow from operating activities saw a drastic decline of 81.44%, amounting to 1.30 billion yuan [5] - Accounts receivable increased by 37.17% to 29.20 billion yuan, indicating a rise in short-term receivables [5][6] Business Segments - Government and enterprise business revenue reached 19.25 billion yuan, accounting for 26.91% of total revenue [3][4] - The operator network segment experienced a revenue decline of 5.99%, totaling 35.06 billion yuan, primarily due to decreased income from wireless access products [6][7] - Consumer business revenue grew by 7.59% to 17.23 billion yuan, driven by sales of mobile products and cloud computers [7] Strategic Developments - The company is focusing on future growth by investing in technologies such as 5G-A, 50G PON access upgrades, and 400G OTN construction [6][7] - ZTE is actively expanding its intelligent computing data center projects and enhancing collaboration with operators in computing network and cloud integration [7] - The company maintains a strong position in the market, with several products leading globally, including PON CPE and 5G FWA & MBB market shares [8]

Core Viewpoint - The news highlights various companies' financial performances, stock movements, and strategic decisions, indicating a mixed outlook across different sectors. Performance Summary - Anta Sports clarified it is not a potential acquirer of Canada Goose Holdings [3] - Lianyi Intelligent Manufacturing reported normal operations with no undisclosed significant matters [3] - Huon Electric's robot business is still in the R&D phase and has not generated revenue [3] - Tianfu Communication and Longyang Electronics both reported normal operations with no undisclosed significant matters [3] - Cambrian Technology expects annual revenue of 5 billion to 7 billion yuan in 2025 [3] - CITIC Securities reported a net profit of 13.719 billion yuan for the first half, up 29.8% year-on-year [3] - SMIC's net profit for the first half was 321 million USD, a 35.6% increase year-on-year [3] - Zhongwei Company reported a net profit of 706 million yuan, up 36.62% year-on-year [3] - Wancheng Group's net profit surged 50358.8% to 472 million yuan in the first half [3] - China Galaxy's net profit increased by 47.86% year-on-year, proposing a dividend of 1.25 yuan per 10 shares [3] - Zhujiang Beer reported a net profit of 612 million yuan, up 22.51% year-on-year [3] - Yili Group's net profit decreased by 4.39% to 7.2 billion yuan [3] - Zhongke Titanium White's net profit fell by 14.83% to 259 million yuan [3] - Huasheng Tiancheng turned a profit with a net profit of 140 million yuan [3] - Li Auto's second-quarter revenue totaled 30.2 billion yuan, down 4.5% year-on-year but up 16.7% quarter-on-quarter [3] - Bull Group's net profit decreased by 8% to 2.06 billion yuan [3] - Nanshan Aluminum reported a net profit of 2.625 billion yuan, proposing a dividend of 0.4 yuan per 10 shares [3] - Shuijingfang's net profit fell by 56.52% to 105 million yuan [3] - Huaneng International's net profit increased by 13.15% to 3.904 billion yuan [3] - SAIC Group's net profit decreased by 9.21% to 6.018 billion yuan [3] - SF Holding's net profit increased by 19.4% year-on-year, proposing a dividend of 4.6 yuan per 10 shares [3] - Zhongke Shuguang's net profit increased by 29.39% to 729 million yuan [3] - Shanxi Fenjiu's net profit increased by 1.13% to 8.505 billion yuan [3] - Haier Smart Home reported a net profit of 12.033 billion yuan, proposing a dividend of 2.69 yuan per 10 shares [3] - China State Construction's net profit increased by 3.2% to 30.404 billion yuan [3] - CITIC Construction Investment's net profit was 4.509 billion yuan, proposing a dividend of 1.65 yuan per 10 shares [3] - New China Life Insurance's net profit increased by 33.5% to 14.799 billion yuan [3] - China Southern Airlines reported a loss of 1.533 billion yuan in the first half [3] - Sanhuan Group's net profit increased by 20.63% to 1.237 billion yuan [3] - Yingshi Innovation's net profit increased by 0.25% to 520 million yuan [3] - ZTE's net profit decreased by 11.77% to 5.058 billion yuan [3] - Changxin Bochuang's net profit surged 1121.21% to 168 million yuan [3] Buyback and Shareholding Changes - Spring Airlines plans to repurchase shares worth 300 million to 500 million yuan [4] - Shenzhen Ruijie plans to repurchase 500,000 to 600,000 shares [4] - Haotong Technology's actual controller plans to reduce holdings by up to 3% [4] - Aojie Technology's shareholder Alibaba Network plans to reduce holdings by up to 3% [4] - Chunzong Technology's chairman plans to reduce holdings by up to 2.053% [4] - Zhejiang Shibao's controlling shareholder plans to reduce holdings by up to 2% [4] Contracts and Major Investments - Zhongding Co. signed a strategic cooperation agreement with the Baohe District government for the robotics industry [4] - Tongda Co. is pre-awarded a 122 million yuan procurement project by the State Grid [4] - Runjian Co. won a 392 million yuan project for green power supply in Ulanqab, Inner Mongolia [4] - Dash Intelligent signed a smart project contract for Hualun Century Plaza [4] - Huakang Clean signed a pre-award for a 136 million yuan medical purification project [4] - Shunyu Co. plans to establish a smart water management subsidiary [4] - Guanzhong Ecology plans to invest in a seedling breeding base in Kyrgyzstan [4] Mergers and Acquisitions - Beixin Building Materials intends to acquire 100% equity of an overseas building materials company [4] - Chip Origin plans to purchase equity in Chip Lai Zhirong, with stock suspension starting tomorrow [4] - Kaifa Electric plans to acquire 80% equity of Ouli Power Network for 52 million yuan [4] Other Developments - Jinghe Integration plans to issue H-shares and list on the Hong Kong Stock Exchange [4] - Huahai Qingke plans to issue H-shares and list on the main board of the Hong Kong Stock Exchange [4] - Fuhanwei plans to issue H-shares and list on the Hong Kong Stock Exchange [4]

中兴通讯股份有限公司 董事会审计委员会工作细则 （2025 年 8 月版） （经 2025 年 8 月 28 日召开的中兴通讯股份有限公司 第十届董事会第十二次会议审议通过） 第一章 总则 第一条 为了使董事会更好地履行职责，确保董事会对管理层的有效监督，完善 公司治理结构，根据《中华人民共和国公司法》、《上市公司治理准则》、《香港联 合交易所有限公司证券上市规则》（下称"上市规则"）、《中兴通讯股份有限公司 章程》（下称"《公司章程》"）及其他有关规定，公司特设立董事会审计委员会， 并制定本工作细则。 第二条 董事会审计委员会是董事会按照《公司章程》设立的专门工作机构，主 要负责审核公司财务信息及其披露、监督及评估内外部审计工作和内部控制等。 第二章 人员组成 第三条 审计委员会成员由不少于三名董事组成，委员全部是非执行董事，独立 非执行董事过半数。审计委员会的召集人为会计专业人士。 第四条 审计委员会委员由董事长、二分之一以上独立非执行董事或者全体董事 的三分之一提名，并由董事会选举产生。 第五条 审计委员会设召集人一名，由独立非执行董事委员担任，负责主持委员 会工作；召集人在委员中选举产生。 第六条 现 ...

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） 董事會審計委員會工作細則 第一章 總則 第一條 為了使董事會更好地履行職責，確保董事會對管理層的有效監督，完善 公司治理結構，根據《中華人民共和國公司法》、《上市公司治理準則》、《香港聯 合交易所有限公司證券上市規則》（下稱"上市規則"）、《中興通訊股份有限公司 章程》（下稱"《公司章程》"）及其他有關規定，公司特設立董事會審計委員會， 並制定本工作細則。 第二條 董事會審計委員會是董事會按照《公司章程》設立的專門工作機構，主 要負責審核公司財務信息及其披露、監督及評估內外部審計工作和內部控制等。 第二章 人員組成 第三條 審計委員會成員由不少於三名董事組成，委員全部是非執行董事，獨立 非執行董事過半數。審計委員會的召集人為會計專業人士。 第四條 審計委員會委員由董事長、二分之一以上獨立非執行董事或者全體董事 的三分之一提名，並由董事會選舉產生。 第五條 審計委員會設召集人一名，由獨立非執行董事委員擔任，負責主持委員 會工作；召集人在委員中選舉產生。 1 第六條 現時負責審計公司帳目的外 ...