ZTE Shares Jump Nearly 8% After Q3 Profit Surge of Almost 400%, Computing Power Products Now Account for 38% of Revenue

Stock News10-27 10:00

According to Zhitong Finance APP, ZTE (00763) rose nearly 8% in early trading. As of press time, it was up 7.23% at HK$20.48, with a turnover of HK$113 million.

On the news front, ZTE announced that for the first three quarters, it achieved operating revenue of 116.838 billion yuan, up 16.23% year-on-year; net profit was 4.060 billion yuan, down 23.71% year-on-year. In the third quarter, operating revenue was 38.813 billion yuan, up 33.99% year-on-year; net profit was 1.307 billion yuan, up 394.46% year-on-year and down 9% quarter-on-quarter.

Notably, the computing power business has become an important support for ZTE's revenue growth: revenue from computing power products increased by more than 70% year-on-year, and its share of total revenue rose to 38%; revenue from server and storage products increased by more than 70% year-on-year, while revenue from data center products increased by nearly 130% year-on-year.

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