ZTE CORPORATION 中興通訊股份有限公司 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，幷明確表示，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。 1 權利。 除本公告披露者外，截至本公告日，李女士概無於本公司或本集團其他成員擔任職務。 （於中華人民共和國註冊成立的股份有限公司） （股份代號：00763） 關於選舉第十屆董事會職工董事的公告 2025 年 4 月 24 日，中興通訊股份有限公司（簡稱"公司"、"本公司"或"中興通訊"） 召開二零二五年第一次臨時股東大會，審議通過《關於修改<公司章程>、<股東大會議事規 則>及<董事會議事規則>有關條款的議案》。根據《公司章程》規定，公司設職工董事一名， 職工董事由公司職工民主選舉産生和罷免。 公司第九屆職工代表大會第六次會議選舉李妙娜女士擔任公司第十屆董事會職工董事，任 期自 2025 年 5 月 23 日起至公司第十屆董事會屆滿之日（即 2028 年 3 月 27 日）止。 李妙娜女士的履歷詳情載列如下： 李妙娜，女，1974 年出生。李女士於 ...

Group 1 - The 2025 Global Artificial Intelligence Terminal Exhibition opened in Shenzhen, showcasing the latest technological breakthroughs in the AI terminal field and promoting the integration of technology, capital, talent, and scenarios [1][15] - Shenzhen launched two industry funds focused on artificial intelligence and embodied robotics, with the Shenzhen AI and Embodied Robotics Industry Fund having an initial scale of 2 billion and the Shenzhen AI Terminal Industry Investment Fund at 5 billion [18] - The exhibition featured various immersive experience zones, including industrial collaborative robots and medical rehabilitation robots, allowing attendees to explore the potential applications of AI across multiple sectors [4][10] Group 2 - The AI glasses section was a highlight, with significant advancements in voice interaction and dynamic visual perception, moving towards the consumer market [4] - TCL showcased the Thunder X3 Pro smart glasses, which are lightweight and capable of real-time translation, with a market share exceeding 50% in the AI/AR glasses segment in Q1 [7] - The exhibition included five major zones, focusing on smart terminals, large model applications, innovative products, core technologies, and human-robot interaction, aiming to drive the evolution of "cloud collaboration" to "edge intelligence" [15][10] Group 3 - Shenzhen has over 2,600 AI-related companies, with the smart terminal industry cluster's added value reaching 204.55 billion, a year-on-year growth of 9.9% [21] - The exhibition serves as an important window to observe the high-quality development of Shenzhen's AI industry, with a full-chain support system from basic research to scenario implementation [21] - The event is guided by the Shenzhen Municipal Bureau of Industry and Information Technology and aims to position Shenzhen as a global AI pioneer city [17][18]

【导读】2025全球人工智能终端展（GAIE）在深圳开幕 见习记者 杨晨 作为全国首个聚焦人工智能终端的行业盛会，本届展会展览规模达2.5万平方米，设置五大核心展区与十大应用场景，吸引了全球15个国家和地区的300余 家企业齐聚深圳，构建"核心技术-终端产品-大模型应用"全链条展示矩阵。 展会现场，华为、荣耀、中兴通讯、创维、TCL等头部企业携AI手机、AI PC、AI家居等新品亮相。展会上，荣耀终端股份有限公司产品线总裁方飞首次 在国内技术解读荣耀"阿尔法战略"，宣布拥抱MCP等开放协议，打通AI终端生态，计划到2027年实现1000+硬件品类接入、4000万+生态设备激活。 创新企业同样亮点纷呈：昔日的华强北电子一条街化身AI硬件孵化器，呈现人工智能时代的转型样本；音响协会集结万魔声学、猫王音响等十余家音频 产业链企业，携智能音响、语音前端芯片与空间音频算法联袂登场，呈现"AI+声学"的沉浸魅力；玩具协会精选企业带来AI智能毛绒公仔、AI陪伴机器 人、AI伴读台灯等，让童年秒变智能游乐场。 在展会现场，中国基金报记者采访了康冠科技董事长凌斌。康冠科技作为创新企业的代表，本次携带AI电子白板、医疗AI一体机 ...

Group 1 - BlackRock's stake in ZTE Corporation decreased from 6.82% to 5.88% as of May 15 [1]

Group 1 - The core viewpoint of the news is the performance of the China Urban Transportation Index, which has shown a recent increase of 5.05% over the past month, despite a decline of 5.22% over the last three months and a slight decrease of 0.15% year-to-date [1] - The China Urbanization Index series reflects the performance of listed companies affected by changes in economic and consumption structures, focusing on themes such as intensive, intelligent, and green low-carbon development [1] - The index includes one urbanization index and five sub-indices, namely Smart Town, Green Town, Urban Transportation, Intelligent Transportation, and Urban Consumption, with a base date of June 29, 2012, set at 1000.0 points [1] Group 2 - The top ten weighted companies in the China Urban Transportation Index are BYD (13.39%), Huichuan Technology (5.53%), Silis (3.99%), Hikvision (3.9%), ZTE (3.86%), Guodian NARI (3.45%), CRRC (3.32%), SAIC Motor (2.91%), JAC Motors (2.38%), and Changan Automobile (2.34%) [1] - The market segments of the index holdings show that the Shenzhen Stock Exchange accounts for 60.43%, while the Shanghai Stock Exchange accounts for 39.57% [1] Group 3 - In terms of industry composition, the index sample shows that Industrial sector accounts for 39.97%, Consumer Discretionary for 29.56%, Information Technology for 15.79%, Communication Services for 8.20%, Materials for 6.32%, and Real Estate for 0.16% [2] - The index sample is adjusted every six months, with adjustments implemented on the next trading day following the second Friday of June and December each year [2] - Weight factors are generally fixed until the next scheduled adjustment, with special circumstances allowing for temporary adjustments [2]

Group 1: Company Overview - Huili B's total market capitalization fell below RMB 300 million for the first time, closing at RMB 290 million on May 20, 2023, which may trigger delisting risk if it remains below this threshold for 20 consecutive trading days [1][2] - The company announced a share buyback plan, intending to repurchase shares worth between RMB 3 million and 6 million at a price not exceeding USD 0.51 per share [2] - Huili B's stock price dropped significantly, with a 24.49% decline over the last five trading days and a 55.6% decline over the last 30 trading days, closing at USD 0.222 per share [2] Group 2: Financial Performance - In Q1 2023, Huili B reported revenue of RMB 3.8144 million, a year-on-year decrease of 0.24%, and a net profit attributable to shareholders of RMB 1.2489 million, down 37.99% year-on-year [2] - Other companies facing delisting risks include *ST Lingyun B and *ST Jinguang B, with *ST Lingyun B's stock price falling below RMB 1 for the first time [4] Group 3: IPv6 Industry Insights - The Central Cyberspace Affairs Commission, the National Development and Reform Commission, and the Ministry of Industry and Information Technology issued a document outlining goals for IPv6 deployment by 2025, aiming for 850 million active users and 1.1 billion IoT connections [5][6] - The document includes nine key tasks to enhance IPv6 infrastructure and security, with major companies like China Unicom and ZTE leading in market capitalization and IPv6 deployment efforts [7][8] - IPv6 concept stocks have performed well this year, with an average increase of 13.45%, and several companies, including Dongtu Technology and Anbotong, seeing gains exceeding 50% [8][9]

Summary of Key Points from the Conference Call Industry Overview - The conference call focuses on the **US-China technology competition** and its implications across various sectors, including **artificial intelligence (AI)**, **semiconductors**, **advanced manufacturing**, **biopharmaceuticals**, and **5G technology** [7][11][24][45]. Core Insights and Arguments 1. Technology Competition Landscape - The US and China are engaged in intense competition in key technology areas, impacting economic, national security, and global influence [7][11]. - Both countries have increased investments in AI, semiconductors, and advanced manufacturing in recent years [7][11]. - The report aims to provide a comprehensive diagnosis of technology competition for government policy and investment recommendations [7][11]. 2. Key Findings - **China's Infrastructure Advantage**: China leads in manufacturing, 5G, and battery technology [11]. - **US Leadership in Cutting-Edge Technologies**: The US maintains an edge in AI, quantum computing, and biotechnology [11]. - **Diverging Priorities**: Some US industry stakeholders have shifted focus to AI and fintech, while government agencies continue to prioritize advanced networks and computing [11]. - **Commercialization Gaps**: China leads in biomanufacturing and biopharmaceutical markets [11]. 3. Advanced Battery Technology - China dominates battery production, while the US aims to close the gap through initiatives like the Inflation Reduction Act (IRA) [17][19]. - The number of US battery facilities is projected to increase from 2 in 2019 to over 34 by 2024, with nearly $43 billion in investments from 2023 to 2024 [17][19]. 4. Advanced Manufacturing - China accounts for 35% of global manufacturing output, significantly higher than the US's 12% [24]. - The Chinese government has ramped up support for advanced manufacturing, with loans increasing from $63 billion in 2019 to $680 billion in 2023 [24]. - The US leads in generative AI and smart manufacturing software, driving innovation in advanced manufacturing [24]. 5. Artificial Intelligence - The US AI ecosystem is led by private companies, with significant investments and talent concentration [29][30]. - China has emerged as a strong competitor, with a growing number of large model developers and advancements in AI applications [30]. 6. Biopharmaceuticals - The US remains dominant in innovation, supported by strong intellectual property protections and high research funding [33]. - China is accelerating its biopharmaceutical innovation, with investments reaching $21 billion in 2023 [33]. 7. Commercial Drones - China leads the global commercial drone market, with DJI holding over 90% of the consumer market share [40]. - US security concerns over Chinese drones have led to increased scrutiny and potential market restrictions [40]. 8. 5G Technology - China has deployed over 4 million 5G base stations, far exceeding the US's 100,000 [45]. - Chinese companies like Huawei and ZTE dominate the global 5G equipment market due to competitive pricing and government support [45]. 9. Fusion Energy - The US leads in fusion research and investment, achieving significant milestones in net energy gain [54]. - China is investing heavily in fusion infrastructure, with a focus on commercial applications [54]. Important but Overlooked Content - The report highlights the potential for AI to accelerate battery material research, significantly reducing development time from 20 years to one week [20]. - The US faces challenges in AI data center energy consumption, projected to account for 8% of US electricity by 2030 [32]. - The emergence of new training paradigms for AI models could address computational resource shortages [32]. - The geopolitical landscape may influence the future of technology collaboration and competition, particularly in biopharmaceuticals and AI [35][66]. This summary encapsulates the critical insights and findings from the conference call, providing a comprehensive overview of the current state and future outlook of US-China technology competition across various sectors.

Group 1 - The Ministry of Education's Vocational Education Development Center signed a memorandum of cooperation with Beijing Volcano Engine Technology Co., Ltd. to promote vertical model construction in vocational education [1][4] - The collaboration will focus on training in the automotive and e-commerce sectors, developing intelligent applications, and nurturing AI-skilled talent [4][8] - Volcano Engine will provide comprehensive support including funding, computing power, and industry data to selected vocational schools and teaching teams [4][9] Group 2 - The Vocational Education Development Center previously signed a strategic cooperation framework agreement with ZTE Corporation to work on communication, intelligent manufacturing, and computer fields [4][8] - The center plans to collaborate with Alibaba Cloud Computing in the fields of cloud computing, artificial intelligence, and cross-border e-commerce within the year [8] - The center's director emphasized that advancements in artificial intelligence, particularly generative AI, are reshaping the future of education and creating new opportunities for vocational education [8][9] Group 3 - Volcano Engine, as a subsidiary of ByteDance, has significant technical expertise in AI and large model technology, aiming to integrate industry advancements with vocational education [9][10] - ZTE Corporation, a leading global ICT solutions provider, has made notable investments in AI and large model technology, intending to drive educational transformation through technological innovation [10]

Core Insights - The company emphasizes the necessity of expanding overseas markets while considering cyclical balance in its development strategy [1] - In 2024, the company's international market revenue reached 39.293 billion yuan, a year-on-year increase of 4.04%, accounting for 32.39% of total revenue, up from 30.39% in 2023 [1] - The gross profit margin was 26.91%, reflecting a decline of 10.56 percentage points year-on-year [1] Revenue Contribution - Revenue contributions from different regions include 17.48 billion yuan from Europe, America, and Oceania, 15.39 billion yuan from Asia (excluding China), and 6.42 billion yuan from Africa [1] - The company has been expanding its international presence since 1996, focusing on key markets in Asia and Latin America [1] Strategic Considerations - The company aims to achieve periodic balance and complementarity in its market presence, noting that different regions have varying levels of economic development [1] - The company is particularly focused on the 5G market, as regions like Africa and Latin America are still modernizing their 4G infrastructure [1] Innovation and Challenges - The company identifies the need to transform challenges encountered in international expansion into sources of innovation [2] - Past collaborations, such as with Japanese partners during the 4G era, have driven improvements in product quality due to stringent requirements [2] - The company advocates for Chinese enterprises to collaborate and form synergies when expanding overseas [2] Digital Economy Insights - The company asserts that ICT technology is foundational to the digital economy, with decreasing computing costs potentially leading to a convergence of intellectual and energy costs [2] Future Outlook - The company plans to deepen its traditional business in major markets while exploring new growth opportunities in data centers and green low-carbon initiatives [2] - In Q1 2025, the company reported revenue of 32.968 billion yuan, a year-on-year increase of 7.82%, while net profit was 2.453 billion yuan, down 10.50% year-on-year [2] Revenue Structure Changes - The revenue structure has shifted from a previous ratio of approximately 7:2:1 (operators, government enterprises, and consumers) to a new ratio of 5:3:2, reflecting changes in market dynamics [3] - This transition is closely linked to the decline in operator investments in 5G networks and the rising demand for computing power, energy, and enterprise digitalization [3]

Core Viewpoint - The China Telecom Theme Index has shown mixed performance, with a slight decline on the latest trading day, reflecting broader market trends in the telecom sector [1]. Group 1: Index Performance - The China Telecom Theme Index decreased by 0.03% to 1792.12 points, with a trading volume of 26.344 billion yuan [1]. - Over the past month, the index has increased by 2.63%, but it has declined by 7.91% over the last three months and by 3.23% year-to-date [2]. Group 2: Index Composition - The index comprises 50 listed companies involved in telecom operations, value-added services, communication equipment, technology services, and data centers [2]. - The top ten weighted companies in the index are: China Telecom (17.66%), China Mobile (16.11%), China Unicom (15.28%), Yinzhijie (6.14%), China Satellite Communications (5.25%), ZTE Corporation (4.86%), Zhongji Xuchuang (4.12%), Xinyi Sheng (3.95%), Unisplendour (2.63%), and Zhongtian Technology (1.75%) [2]. Group 3: Market Segmentation - The index's holdings are primarily listed on the Shanghai Stock Exchange (64.03%) and the Shenzhen Stock Exchange (35.97%) [2]. - The index samples are adjusted biannually, with changes implemented on the next trading day following the second Friday of June and December [3].