Zhi Tong Cai Jing·2025-08-29 02:11Core Viewpoint - ZTE Corporation's stock fell over 6% following the release of its interim results, indicating market concerns over declining profits despite revenue growth [1] Financial Performance - ZTE reported a revenue of 71.553 billion yuan for the first half of the year, representing a year-on-year increase of 14.51% [1] - The net profit for the same period was 5.058 billion yuan, showing a year-on-year decline of 11.77% [1] - The non-GAAP net profit was 4.104 billion yuan, down 17.32% year-on-year [1] - Gross margin stood at 32.45%, a decrease of 7.99% compared to the previous year [1] - The net cash flow from operating activities was 1.3 billion yuan, reflecting a significant decline of 81.44% year-on-year [1] Segment Performance - Revenue from operator networks was 35.064 billion yuan, a decrease of 5.99% year-on-year, with a gross margin of 52.94%, down 1.38 percentage points [1] - Government and enterprise business revenue reached 19.254 billion yuan, a substantial increase of 109.93% year-on-year, but with a gross margin of 8.27%, down 13.50 percentage points [1] - Consumer business revenue was 17.235 billion yuan, up 7.59% year-on-year, with a gross margin of 17.78%, down 1.03 percentage points [1]