Zhi Tong Cai Jing·2025-09-25 06:15Core Viewpoint - ZTE Corporation (000063)(00763) saw a stock increase of over 5%, currently at 35.62 HKD with a trading volume of 1.318 billion HKD, driven by strong revenue growth in its second curve business, particularly in AI and computing products [1] Group 1: Company Performance - In the first half of the year, ZTE's revenue from its second curve, represented by computing power and terminal products, grew nearly 100% year-on-year, accounting for over 35% of total revenue [1] - Revenue from servers and storage increased by over 200% year-on-year, with AI server revenue making up 55% of this segment [1] Group 2: Market Position and Orders - ZTE has recently secured the largest share in the centralized procurement of AI general computing devices (inference type) for China Mobile (600941) [1] - The company has self-research capabilities for switching chips and has achieved a key chip forwarding capacity of 12.8T, with ongoing technological advancements aimed at upgrading this capacity to 51.2T [1] Group 3: Industry Outlook - The evolution of AI technology and its deeper application is expected to promote the construction of intelligent computing centers and increase business volume on the consumer side, driving growth in network construction [1] - The investment in computing power by cloud vendors and ZTE's strategic layout in intelligent computing and terminals are anticipated to empower future growth in the ICT industry over the next 3-5 years [1]