中兴通讯_人工智能_通用服务器中标;计算基础设施和边缘人工智能推动增长;中性评级


13 October 2025 | 11:45PM HKT Equity Research ZTE (0763.HK): AI/ General servers bidding wins; Computing infra and edge AI driving growth; Neutral We are positive on ZTE's ramp up on server business, supported by the rising demand from its domestic telecom and enterprises customers. The company's server & storage revenues has grown 200% YoY in 1H25, within which AI server contributed 55% of the revenues. We are positive on the second-curve business expansions for ZTE. Supported by rapid expansions in comput ...