ZTE(000063) Jin Rong Jie·2025-03-31 07:12Core Insights - ZTE Corporation reported a comprehensive decline in performance for the year 2024, with revenue of 121.3 billion yuan, a year-on-year decrease of 2.38%, and a net profit of 8.425 billion yuan, down 9.66% [1] Management Changes - On March 31, 2025, ZTE announced significant personnel changes, with Fang Rong officially taking over as the chairman of the board, succeeding Li Zixue, who stepped down due to age [1] - The new management team was completed during the same board meeting, with Xu Ziyang continuing as president and Wang Xiyu, Li Ying, and Xie Junshi appointed as executive vice presidents, overseeing R&D, finance, and operations and marketing respectively [3] Strategic Direction - In an open letter to all employees, Fang Rong reflected on ZTE's 40-year development journey, emphasizing the company's transition from full connectivity to "connectivity + computing power" in the context of the AI-driven industrial revolution [4] - ZTE aims to accelerate the deployment and upgrade of AI infrastructure in collaboration with global partners, promoting the deep application of digital intelligence technologies across various industries [4] - The company is committed to sustainable low-carbon development and aims to bridge the digital divide by making AI technology more accessible, working with partners to build a sustainable future [4]