Financial Performance - ZTE Corporation reported a revenue of CNY 124,250.9 million in 2023, representing a 1.05% increase from CNY 122,954.4 million in 2022[19]. - The net profit attributable to shareholders increased by 15.41% to CNY 9,325.8 million in 2023, up from CNY 8,080.3 million in 2022[19]. - The net cash flow from operating activities surged by 129.70% to CNY 17,405.7 million in 2023, compared to CNY 7,577.7 million in 2022[19]. - Total assets grew by 11.06% to CNY 200,958.3 million in 2023, up from CNY 180,953.6 million in 2022[19]. - The weighted average return on equity increased to 15.19% in 2023, up from 14.66% in 2022[19]. - Basic earnings per share rose by 14.62% to CNY 1.96 in 2023, compared to CNY 1.71 in 2022[20]. - The gross profit margin for 2023 was 41.53%, up 4.34 percentage points year-on-year, driven by improvements in operator networks, government and enterprise, and consumer businesses[58]. - The domestic market revenue reached 86,485.4 million, with a year-on-year growth of 1.45%, accounting for 69.61% of total revenue[61]. - The international market revenue was 37,765.5 million, with a year-on-year increase of 0.15%, making up 30.39% of total revenue[62]. Dividend and Profit Distribution - The company reported a profit distribution plan for 2023, proposing a cash dividend of RMB 6.83 per 10 shares, subject to shareholder approval[3]. - The proposed cash dividend for 2023 is 6.83 CNY per 10 shares, with a total cash distribution not exceeding 3.303 billion CNY, representing 35.0% of the net profit attributable to shareholders of 9.33 billion CNY[148]. - The company has maintained a profit distribution policy of distributing no less than 30% of the average annual distributable profit over the last three years[146]. - As of December 31, 2023, the company has accumulated distributable profits of approximately 25.22 billion CNY[148]. Governance and Compliance - The company emphasizes compliance with laws and regulations affecting its operations, including data compliance and anti-corruption measures[113]. - The company has a dedicated compliance management committee overseeing various compliance areas[113]. - The board of directors is responsible for major operational decisions, ensuring independent and efficient governance[126]. - The company is committed to improving corporate governance practices and has reviewed its governance policies in 2023[152]. - The independent non-executive directors have extensive experience in finance, law, and compliance, contributing to the board's effectiveness[156]. Research and Development - The company maintained a strong focus on R&D in "connectivity + computing power + capabilities + intelligence" technologies, ensuring its core products remain competitive in the industry[24]. - Research and development investment amounted to CNY 26,783.3 million, a 14.34% increase from the previous year, representing 21.56% of total operating revenue, up by 2.51 percentage points[70]. - The company has 35,393 R&D personnel, representing 49.1% of the total workforce[200]. - The R&D budget has been increased to GG million set aside for this purpose[183]. Risk Management - The company is committed to managing foreign exchange risks through various strategies, including internal settlement management and the use of foreign exchange derivatives[120]. - The company faces interest rate risk primarily from interest-bearing liabilities, with total interest expenses affected by fluctuations in domestic and foreign currency interest rates[121]. - The company employs credit risk management measures, including credit investigations and insurance, to mitigate the impact of varying customer creditworthiness[122]. Corporate Social Responsibility - The company highlights the significance of ESG principles in its operations and governance[12]. - The company made approximately CNY 26.06 million in charitable donations in 2023[114]. - The company is committed to improving its environmental performance and promoting sustainable waste management[114]. Employee and Workforce - As of December 31, 2023, the total number of employees in the group is 72,093, with an average age of 34.6 years[199]. - Female employees account for approximately 23.9% of the total workforce, while male employees make up about 76.1%[199]. - The group employs 28,951 individuals with a master's degree, accounting for 40.2% of the total workforce[200]. - The company has a diverse hiring strategy focusing on gender, age, cultural and educational background, and professional experience[200].
中兴通讯(00763) - 2023 - 年度业绩