ZTE Corporation: Revenue of 133.9 billion yuan in 2025, with computing power revenue increasing by 150% year-on-year

DoNews March 6 News, on March 6, ZTE Corporation released its 2025 annual report. During the reporting period, the company achieved revenue of 133.9 billion yuan, a year-on-year increase of 10.4%; net profit attributable to shareholders of the parent company was 5.62 billion yuan; non-recurring net profit attributable to shareholders was 3.37 billion yuan; and the total cash dividend planned for 2025 accounts for 35% of net profit attributable to shareholders of the parent company.

The past year has been a critical year for ZTE to establish intelligent computing as its long-term main focus. Facing the opportunities and challenges of rapid AI development, the company continued to strengthen its leading position in network products, increased investment and innovation in computing power, home, and personal terminals, and gradually built a full-stack AI technology capability covering “infrastructure—platform—application.” By 2025, the strategic implementation has begun to show results, with the company’s revenue returning to a rapid growth track and demonstrating strong resilience.

During the reporting period, the company’s computing power business achieved leapfrog growth, with annual revenue increasing approximately 150% year-on-year, accounting for 24.6% of total revenue. Server and storage revenue grew by over 200% year-on-year, and data center product revenue increased by 50%. The home and personal terminal business continued to grow, contributing a total revenue of 25.3%.

Meanwhile, under the dual influence of industry cycle shifts and changes in business structure, the company’s gross profit margin faced temporary pressure. The company maintained high-intensity R&D investment, with R&D expenses reaching 22.76 billion yuan, accounting for about 17.0% of revenue, continuously building an end-to-end AI capability matrix to lay a solid foundation for long-term competitiveness.

Domestic and International Synergy Development, Government and Enterprise Business Revenue Doubles Year-on-Year

In 2025, ZTE adhered to a balanced approach of global deployment and deepening the domestic market, achieving coordinated development in both domestic and international markets, with revenues of 89.74 billion yuan and 44.16 billion yuan respectively, accounting for 67.0% and 33.0% of total revenue, with year-on-year growth of 9.4% and 12.4%.

Among the three major business segments, the company continued to consolidate its core operations in carrier networks while accelerating expansion into government and enterprise, and consumer businesses. Carrier network revenue reached 62.86 billion yuan, accounting for 46.9% of total revenue. Domestic market revenue was under pressure due to decreased investment in communication infrastructure.

The company focused on wireless and wired product development, maintaining a steady increase in market share and solidifying its “ballast stone” position, while actively expanding carrier intelligent computing data center projects. It also laid out integrated space-air-ground, autonomous networks, 10-gigabit optical networks, and other advanced technologies to prepare for the next stage of network construction. Internationally, the company actively promoted the “Great Power, Great T” strategy, seizing market opportunities in 5G and fiber-optic construction, achieving rapid growth.

The government and enterprise sector seized opportunities from leading domestic internet companies and industry clients increasing their investments in intelligent computing, deepening cooperation in outbound Chinese business, and continuously breaking through with server and other computing power products for top-tier clients. This drove the revenue of government and enterprise business to double year-on-year, reaching 37.22 billion yuan, becoming a key engine for overall company growth.

The consumer business focused on full-scenario AI terminal deployment, achieving revenue of 33.82 billion yuan, a 4.4% increase.

Full-Stack AI Innovation, Rapid Growth in Computing Power and End Devices

AI technology continues to evolve, accelerating toward a new AI era marked by tokens. The AI wave is still in its early stages, with technology and markets rapidly iterating. Industry competition has shifted from single-technology leadership to comprehensive capabilities, entering a new phase of intelligent application deployment and total cost of ownership (TCO) comparison.

Relying on over 40 years of full-stack and full-domain accumulation in ICT, ZTE has gradually built unique competitiveness in self-developed chipsets, key algorithm optimization, architectural-level collaboration, global delivery capabilities, and high-speed interconnection standards, supporting the integration of “connectivity + intelligent computing” innovation, which has begun to show value.

By 2025, the company will fully embrace AI, focusing on the four major areas of “network, computing power, home, and personal,” consolidating its network foundation, using computing power as a growth engine, and pushing breakthroughs in home and personal terminals to build long-term competitiveness driven by “connectivity + computing power.”

In the network domain, ZTE leverages AI as the core driving force, continuously enhancing high-speed, integrated, and intelligent connectivity through AIR series solutions, AI 10G full optical networks, and other innovations, expanding AI application scenarios. The company also proactively plans for 6G and AI integration, space-air-ground, and sensing integration, focusing on technological breakthroughs. It maintains global leadership in core products such as 5G base stations, 5G core networks, fixed-line products, and industry-leading positions in 5G RAN, 5G core networks, optical access, and optical transmission products.

In the computing power sector, ZTE integrates chip, algorithm, architecture, delivery, and standard capabilities, employing extreme collaborative design and relying on resilient supply chains to create cost-effective AI system solutions for global customers. The company has launched innovative architectures such as high-efficiency orthogonal supernodes, AiCube intelligent computing integrated machines, and Co-Sight smart factory solutions, with over 500 green data centers built worldwide, deploying 10,000+ level intelligent computing centers, and maintaining investments in large industry models.

The scale of intelligent computing servers has entered core scenarios for leading Chinese internet, telecom, finance, and power companies. ZTE has accumulated rich end-to-end AI computing experience, partnering with over a thousand collaborators to create multiple intelligent benchmarks in manufacturing, power, and urban governance, fully supporting customers in building efficient intelligent computing infrastructure and industry AI ecosystems.

In the home and personal sectors, ZTE promotes “AI for All,” driving transformation in smart terminals, focusing on new AI forms, creating new paradigms of human-machine interaction, and accelerating the construction of full-scenario AI ecosystems. By 2025, revenue from home and personal devices will grow steadily, with personal terminal revenue achieving double-digit growth and overseas mobile phones continuing rapid growth. The 5G FWA & MBB market share remains the global leader.

For home applications, ZTE deeply integrates AI capabilities with innovative terminal forms, upgrading home devices to “home intelligent centers.” Using built-in computing power and multi-screen smart terminals, it serves scenarios such as health care, education, entertainment, and security. In 2025, the company’s home terminals will again surpass 100 million units shipped annually, with FTTR products exceeding 30 million units shipped, PON CPE leading globally, Wi-Fi 7 home terminals remaining industry leaders, and smart middle screens exceeding one million units sold. Cloud computer business continues rapid growth, with terminal shipments surpassing 2 million units, maintaining leadership in China’s desktop cloud terminal market.

For personal devices, ZTE centers on AI terminals, with gaming as a key breakthrough, driving terminal innovation and business growth. The Nubia Z80 Ultra flagship and the popular foldable Nubia Flip2 lead a young AI lifestyle; models like XiaoXian 60 Zhenqing Edition, Panshi AI Phone Changxing 60 Series, and Yuanhang 60 Plus promote AI accessibility; and the company launched the industry’s first intelligent body mobile phone, enabling cross-application task processing and opening a new era of smart interaction.

In the gaming sector, Red Magic phones continue to lead the global e-sports mobile market, with Nubia Neo series gaming phones accelerating overseas expansion into Southeast Asia, Latin America, the Middle East, and Europe. Shipments increased by 150% year-on-year, with breakthrough growth in the Philippines, Indonesia, Colombia, Argentina, and other countries.