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Key Information

ZTE Corporation
Simplified Chinese中兴通讯股份有限公司
Traditional Chinese中興通訊股份有限公司
Literal meaningChina-Prosperity Communications Company Limited by Shares
Transcriptions
Standard Mandarin
Hanyu PinyinZhōngxìng tōngxùn gǔfèn yǒuxiàn gōngsī
Yue: Cantonese
JyutpingZung1hing3 tung1seun3 gu2fan6 jau6haan6 gung1si1
Alternative Chinese name
Simplified Chinese中兴通讯
Traditional Chinese中興通訊
Literal meaningChina-Prosperity Communications
Transcriptions
Standard Mandarin
Hanyu PinyinZhōngxìng tōngxùn
Second alternative Chinese name
Simplified Chinese中兴
Traditional Chinese中興
Literal meaningChina-Prosperity [or the word itself: resurgence]
Transcriptions
Standard Mandarin
Hanyu Pinyinzhōngxīng

ZTE Corporation is a Chinese partially state-owned technology company that specializes in telecommunication. Founded in 1985, ZTE is listed on both the Hong Kong and Shenzhen Stock Exchanges.

ZTE's core business is wireless, exchange, optical transmission, data telecommunications gear, telecommunications software, and mobile phones. ZTE primarily sells products under its own name, but it is also an OEM.[8]

The company has faced criticism in the United States, India, and Sweden over ties to the Chinese government and the Chinese Communist Party (CCP) that could enable mass surveillance. In 2017, ZTE was fined for illegally exporting U.S. technology to Iran and North Korea, in violation of international economic sanctions.[9] In April 2018, after the company failed to properly reprimand the employees involved, the U.S. Department of Commerce banned U.S. companies (semiconductors) from exporting to ZTE for seven years. The ban was lifted in July 2018 after ZTE replaced its senior management, and agreed to pay additional fines and establish an internal compliance team for 10 years.[10][11] In June 2020, the Federal Communications Commission (FCC) designated ZTE a national security threat.[12][13][14][15] In 2023, the European Commission banned ZTE from providing telecommunication services.[16]

History

[edit]
Logo used until 2015
An example of a ZTE Wi-Fi router manufactured for South African telecommunications company MTN South Africa

ZTE, initially founded as Zhongxing Semiconductor Co., Ltd in Shenzhen, Guangdong province, in 1985, was incorporated by a group of investors associated with China's Ministry of Aerospace Industry.[17][18][19][20] In March 1993, Zhongxing Semiconductor changed its name to Zhongxing New Telecommunications Equipment Co., Ltd with capital of RMB 3 million, and created a new business model as a "state-owned and private-operating" economic entity. ZTE made an initial public offering (IPO) on the Shenzhen stock exchange in 1997 and another on the Hong Kong stock exchange in December 2004.[21]

While the company initially profited from domestic sales,[22] it vowed to use proceeds of its 2004 Hong Kong IPO to further expand R&D, overseas sales to developed nations, and overseas production.[23] Making headway in the international telecom market in 2006, it took 40% of new global orders for CDMA networks[24][verification needed] topping the world CDMA equipment market by number of shipments.[25][26][27] That same year also saw ZTE find a customer in the Canadian Telus[28][29] and membership in the Wi-Fi Alliance.[30][better source needed]

By 2009, the company had become the third-largest vendor of GSM telecom equipment worldwide, and about 20% of all GSM gear sold throughout the world that year was ZTE branded.[31] As of 2011, it holds around 7% of the LTE patents.[32]

In 2022, US court rules ZTE to end the five-year probation from a 2017 guilty plea.[33][34]

In 2023, the World Intellectual Property Organization (WIPO)'s Annual PCT Review ranked ZTE's number of patent applications published under the PCT System as 11th in the world, with 1,738 patent applications being published during 2023.[35]

In April 2025, U Mobile announced collaboration with ZTE to deploy Malaysia's second 5G network, with ZTE responsible for the 5G network in East Malaysia.[36][37]

U.S. sanctions and import ban

[edit]
Further information: United States sanctions against China

In March 2017, ZTE pleaded guilty to illegally exporting U.S. technology to Iran and North Korea in violation of trade sanctions, and was fined a total of US$1.19 billion by the U.S. Department of Commerce. It was the largest-ever U.S. fine for export control violations.[38][39]

ZTE was allowed to continue working with U.S. companies, provided that it properly reprimand all employees involved in the violations. However, the Department of Commerce found that ZTE had violated these terms and made false statements regarding its compliance, having fired only 4 senior officials and still providing bonuses to 35 other employees involved in the violations. On 16 April 2018, the Department of Commerce banned U.S. companies from providing exports to ZTE for seven years.[40][41][42] At least 25% of components on recent ZTE smartphones originated from the U.S., including Qualcomm processors and certified Android software with Google Mobile Services.[43][44] An analyst stated that it would take a significant amount of effort for ZTE to redesign its products as to not use U.S.-originated components.[45]

On 9 May 2018, ZTE announced that, although it was "actively communicating with the relevant U.S. government departments" to reverse the export ban, it had suspended its "major operating activities" (including manufacturing) and trading of its shares.[44][46] On 13 May 2018, U.S. president Donald Trump stated that he would be working with CCP General Secretary Xi Jinping to reverse the ban.[47] It was argued that the export ban was being used as leverage by the United States as part of an ongoing trade dispute with China.[48][49] On 7 June 2018, ZTE agreed to a settlement with the Department of Commerce in order to lift the import ban. The company agreed to pay a US$1 billion fine, place an additional US$400 million of suspended penalty money in escrow, replace its entire senior management, and establish a compliance department selected by the department.[50]

Later that month, the U.S. Senate passed a version of the National Defense Authorization Act for Fiscal Year 2019 that blocked the settlement, and banned the federal government from purchasing equipment from Huawei and ZTE (citing them as national security risks due to risks of Chinese government surveillance). The settlement was criticized by Senators as being "personal favors" between Trump and the Chinese government, as the Chinese government issued a loan for an Indonesian theme park project with a Trump golf course following the May 2018 announcement.[51][52] However, the House version of the bill, signed by Trump, did not include the provision blocking the settlement, but still included the ban on federal purchase of Huawei and ZTE products.[53]

On 13 July 2018, the denial order was officially lifted.[10][11][54][55]

In January 2019, it became public that ZTE has retained the services of former senator Joe Lieberman as a lobbyist.[56]

In June 2020, the Federal Communications Commission (FCC) designated ZTE as a threat to U.S. communications networks.[12][57] In July 2020, the U.S. government banned companies that use ZTE from receiving federal contracts.[13][15] The FCC denied the company's appeal of the decision in November 2020.[58]

In September 2020, the U.S. Department of Justice filed a criminal complaint against ZTE accusing it of using two shell companies named Ryer International Trading and Rensy International Trading to violate sanctions against North Korea.[59] In December 2020, the U.S. Congress included $1.9 billion to help telecom carriers in rural areas of the U.S. to remove ZTE equipment and networks they had previously purchased.[60]

In January 2021, Gina Raimondo, President Joe Biden's nominee for United States Secretary of Commerce, said in her confirmation hearings that she would protect U.S. networks from interference by Chinese companies including ZTE.[61] In June 2021, the FCC voted unanimously to prohibit approvals of ZTE gear in U.S. telecommunication networks on national security grounds.[62]

In March 2022, ZTE was accused of violating its probation from its guilty plea for sanctions violations.[63] After President Joe Biden signed into law the Secure Equipment Act of 2021, in November 2022, the FCC banned sales or import of equipment made by ZTE for national security reasons.[64]

In March 2025, the FCC opened an investigation into ZTE and other Chinese companies regarding operations in the U.S. in violation of restrictions.[65]

Bribery investigation

[edit]

In 2020, it was disclosed that the United States Department of Justice opened an investigation into ZTE for potential violations of the Foreign Corrupt Practices Act.[66][67]

Ownership

[edit]

As of 30 June 2019, Zhongxing Xin (Chinese: 中興新; lit. 'Zhongxing New'; aka ZTE Holdings), an intermediate holding company, owned 27.40% stake of ZTE.[68][69] The shareholders of ZTE Holdings were Xi'an Microelectronics (Chinese: 西安微电子技术研究所; a subsidiary of the state-owned China Academy of Aerospace Electronics Technology) with 34%, Aerospace Guangyu (Chinese: 深圳航天广宇工业有限公司; a subsidiary of the state-owned China Aerospace Science and Industry Corporation Shenzhen Group) with 14.5%, Zhongxing WXT (Chinese: 深圳市中兴维先通设备有限公司; aka Zhongxing Weixiantong) with 49%, and a private equity fund Guoxing Ruike (Chinese: 國興睿科) with 2.5%.[70] The first two shareholders are state-owned enterprises, nominating 5 out 9 directors of ZTE Holdings, while Zhongxing WXT was owned by the founders of ZTE, including Hou Weigui, which Zhongxing WXT nominated the rest of the directors (4 out 9) of ZTE Holdings.[7]: 110–112 

The mixed ownership model of ZTE was described as "a firm is an SOE from the standpoint of ownership, but a POE [privately owned enterprises] from the standpoint of management" by an article in The Georgetown Law Journal.[71] ZTE described itself as "state-owned and private-run".[21] The Financial Times described ZTE as state-owned.[72] Other scholars have noted the links between ZTE's state-owned shareholders and the People's Liberation Army.[73]

Subsidiaries

[edit]
ZTE in Shenzhen Nanshan Science Park

ZTE has several international subsidiaries in countries including Indonesia, Australia,[74][75] Germany,[76] the United States,[77][78] India,[79] Brazil,[80][81] Sri Lanka,[82] Myanmar,[83] Singapore,[84] and Romania.[85]

ZTEsoft engages in ICT industry and specializes in providing BSS/OSS, big data products and services to telecom operators, and ICT, smart city and industry products and services to enterprises and governments.[citation needed]

ZTE Office Building SZ1

Nubia Technology was a fully owned subsidiary of ZTE Corporation. The company has subsequently disposed of the majority of its equity in the company. In 2017 it reduced its stake to 49.9%.[86]

Zonergy is a renewables company with interests in electricity generation through solar parks in China and Pakistan and palm oil cultivation in Indonesia to produce biofuels. ZTE is a major shareholder and was instrumental in the creation of the company in 2007 but holds a minority of the shares in the entity.[87]

ZTE agreed to take over a 48% stake in Turkish company Netaş Telekomünikasyon A.Ş. for $101.3 million from the American private equity firm One Equity Partners in December 2016.[88][89][90] Following the acquisition in August 2017, ZTE has become its largest shareholder while Netaş remains an independent company.[91]

Products

[edit]
ZTE Axon 10 Pro

ZTE operates in three business segments: carrier networks, government and corporate business, and consumer business.[92] In October 2010, ZTE's unified encryption module received U.S./Canada FIPS140-2 security certification.[93][94]

ZTE was also reported to have developed identification cards for Venezuela that were allegedly used for tracking and social control.[95]

Customers

[edit]
ZTE booth at Mobile World Congress 2015 in Barcelona

During the 2000s, the majority of ZTE's customers were mobile network operators that came from the developing world, but ZTE products also saw use in developed countries as well. Among ZTE's clients from the first world included Britain's Vodafone, Canada's Telus and Fido, Australia's Telstra, as well as France Telecom have all purchased equipment from ZTE.[96]

Many Chinese telecommunications operators are also clients of ZTE, including China Netcom,[97] China Mobile,[98] China Satcom,[99] China Telecom,[100] and China Unicom.[101][102]

ZTE began to offer smartphones in the United States in 2011. The company elected to focus its efforts on low-cost products for discount and prepaid wireless carriers, including devices with premium features typically associated with high-end products, such as large high-resolution screens and fingerprint readers.[46]

Sponsorship

[edit]

In May 2016, ZTE became the co-sponsor of German football team, Borussia Mönchengladbach.[103]

Since 2015, several U.S.-based National Basketball Association teams have had sponsorship deals with ZTE, including the Houston Rockets, Golden State Warriors, and New York Knicks.[104][105]

Controversies

[edit]

Bans

[edit]

ZTE has been banned in multiple countries over national security concerns and alleged spying.[106][107][108][109][110]

Bribes for contracts

[edit]

Norway

[edit]

Norwegian telecommunications giant Telenor, one of the world's largest mobile operators, banned ZTE from "participating in tenders and new business opportunities for 6 months because of an alleged breach of its code of conduct in a procurement proceeding" during a five-month time span ending in March 2009.[111]

Philippines

[edit]
Main article: NBN–ZTE deal corruption scandal

Contracts with ZTE to build a broadband network for the Philippine government reportedly involved kickbacks to government officials.[112] The project was later cancelled.[112][113]

West Africa

[edit]

Court documents filed in the US show that ZTE had a practice of handing over “brown paper bags” of cash to win contracts in West Africa. The company had an entire department dedicated to bribe management.[114][18]

Surveillance system sale

[edit]

In December 2010, ZTE sold systems for eavesdropping on phone and Internet communications to the government-controlled Telecommunication Company of Iran. This system may help Iran monitor and track political dissidents.[115]

Security

[edit]

At least one ZTE mobile phone (sold as the ZTE Score in the United States by Cricket and MetroPCS) can be remotely accessed by anyone with an easily obtained password.[116]

ZTE, as well as Huawei, has faced scrutiny by the U.S. federal government over allegations that Chinese government surveillance could be performed through its handsets and infrastructure equipment.[117] In 2012, the House Permanent Select Committee on Intelligence issued a report recommending that the government be prohibited from purchasing equipment from the firms, citing them as possible threats to national security.[20][118][119][120] A ban on government purchases of Huawei and ZTE equipment was formalized in a defense funding bill passed in August 2018.[53]

Following the 2020–2021 China–India skirmishes, India announced that ZTE would be blocked from participating in the country's 5G network for national security reasons.[121] Sweden has also banned the use of ZTE telecommunications equipment in its 5G network on the advice of its military and security service, which said China is "one of the biggest threats against Sweden."[122]

Operations in Russia

[edit]
See also: China and the Russian invasion of Ukraine

During the Russian invasion of Ukraine, ZTE refused to withdraw from the Russian market. Research from Yale University published on 10 August 2022 identified ZTE among the companies defying demands to exit Russia or reduce business activities.[123]

References

[edit]
[edit]
Revisions and contributorsEdit on WikipediaRead on Wikipedia

ZTE

View on Grokipedia
from Grokipedia

ZTE Corporation is a partially state-owned Chinese multinational technology company specializing in telecommunications equipment, systems, and mobile devices. Founded in 1985 and headquartered in Shenzhen, it is listed on both the Hong Kong and Shenzhen stock exchanges, employing over 68,000 people and focusing on end-to-end innovations including 5G networks, wireless infrastructure, optical transmission, data gear, and consumer smartphones. ZTE serves global telecom operators, governments, enterprises, and consumers with products ranging from core network solutions to smart home devices and IoT applications. The company has achieved prominence as a leader in 5G technology deployment and R&D investment, holding numerous patents and contributing to international standards. However, ZTE has faced significant international scrutiny, including U.S. fines exceeding $1 billion for violating export controls by shipping American components to and , resulting in a 2018 ban on U.S. imports that nearly collapsed the firm before a settlement involving management overhaul. In 2022, the U.S. further prohibited new equipment sales from ZTE citing national security risks tied to potential espionage vulnerabilities. These events underscore ZTE's deep integration with Chinese state interests, influencing its global operations and regulatory challenges.

History

Founding and Early Expansion (1985–2000)

Zhongxing Semiconductor Co., Ltd., the predecessor to ZTE Corporation, was established on February 7, 1985, in , Province, , by entrepreneur Hou Weigui with an initial staff of seven employees specializing in research and . The venture emerged amid 's post-reform push for technological , initially focusing on importing and adapting foreign telecom technologies for domestic needs, including early work on electronic components and switching systems. In its formative years, the company prioritized independent product development, launching its first offering—the ZX-60 small-capacity analog space-division user exchange—in July 1987, which supported basic switching for rural and small-scale . By November 1989, it achieved a breakthrough with the ZXHKT-500, a 500-port digital program-controlled switch that passed rigorous testing by China's Ministry of Posts and , enabling scalable deployment in urban telecom infrastructure and establishing early domestic market presence. These developments positioned the firm as a key player in China's nascent digital telephony sector, where state-backed initiatives favored local manufacturers over full reliance on imports. The 1990s marked accelerated expansion, with restructuring into ZTE Corporation on November 11, 1997, followed by listing on the on November 18, 1997, which facilitated capital for growth. The company diversified into wireless technologies, tracking CDMA standards from 1995 onward to support emerging mobile networks, and secured its inaugural major international contract in by the mid-1990s, initiating overseas revenue streams amid limited global competition. By 2000, ZTE had evolved from a modest importer-adapter to a vertically integrated provider of switches, transmission equipment, and early mobile solutions, laying groundwork for broader telecom dominance through state-supported R&D and domestic preferences.

Global Growth and Milestones (2000–2017)

During the early 2000s, ZTE accelerated its international expansion by securing key contracts in emerging markets and advancing CDMA technologies critical for global mobile networks. In 2001, the company released the ZTE802, the world's first CDMA mobile phone featuring card separation, which addressed technical barriers in CDMA adoption and supported deployments in multiple regions. By 2002, ZTE entered a design transfer agreement with Qualcomm for CDMA2000 1xEV-DO infrastructure, marking it as the first Chinese firm to do so and enabling high-speed data network builds abroad. In 2003, ZTE signed a cooperation agreement with Romania's POSTelecom to construct a national network, exemplifying its push into European telecom infrastructure. The 2004 initial public offering on the Hong Kong Stock Exchange raised HK$3.27 billion (US$421 million) at HK$22 per share, providing capital for overseas growth and marking ZTE's first listing accessible to international investors after its 1997 Shenzhen A-share debut. This funding fueled entry into markets like the US, where ZTE established a Dallas office that grew from US$300,000 in initial contracts to significant operations by the late 2000s. By 2006, ZTE led the international CDMA base station market with a 41% share measured by contract volume, shipping over 12,000 units and surpassing competitors in developing regions. Partnerships deepened in 2007 with a handset procurement deal with Vodafone, followed by a 2008 global framework agreement covering GSM, UMTS, and optical transmission equipment, positioning ZTE as a qualified supplier for Vodafone's networks across multiple countries. ZTE's focus on 3G and early technologies drove further milestones, with contracts under frameworks and LTE wins such as 2015 deals in via partner Afrimax for multi-country deployments. By the mid-2010s, the company served over 500 operators in more than 140 countries, achieving top-four global ranking in market share. In consumer devices, ZTE launched China's first Android smartphone, the Racer, in 2010, expanding globally with series like . Targeting 10% of the global market by 2017, ZTE released innovations including the 2017 Axon M, the first commercial folding smartphone, and the Gigabit phone under its 5G Pioneer branding, alongside becoming the PGA Tour's exclusive partner. These developments solidified ZTE's transition from a domestic player to a major global telecom vendor, though reliant on state-backed financing and facing scrutiny over technology transfers.

Sanctions, Recovery, and Resilience (2018–2022)

In March 2017, ZTE Corporation reached a settlement with U.S. authorities, pleading guilty to violations of export controls by shipping over $2 billion worth of U.S.-origin items to Iran and North Korea between 2010 and 2016, agreeing to pay approximately $1.19 billion in combined civil and criminal penalties and entering a three-year probation period. However, in early 2018, the U.S. Bureau of Industry and Security (BIS) determined that ZTE had submitted false statements regarding its internal discipline of implicated employees, breaching probation terms. On April 16, 2018, BIS activated a previously suspended seven-year denial order, prohibiting U.S. companies from exporting goods, software, or technology to ZTE, effectively cutting off access to critical components like semiconductors and processors that comprised a significant portion of ZTE's supply chain. The ban triggered immediate operational collapse; by May 9, 2018, ZTE announced the cessation of major business activities, including manufacturing and sales, as it could no longer procure essential U.S.-sourced parts, leading to factory shutdowns and layoffs affecting thousands of employees. Financially, ZTE's plunged over 50% in trading during the ban's enforcement, erasing billions in market value, while revenue projections for 2018 were slashed by up to 30% due to disrupted global contracts and lost , particularly in smartphones and telecom equipment. Negotiations ensued amid U.S.- trade tensions, culminating in a June 7, 2018, superseding settlement where ZTE committed to an additional $1 billion penalty, placed $400 million in as a forfeiture bond, replaced its entire and senior leadership, and installed a U.S.-government-approved compliance to oversee operations for up to 10 years. The denial order was suspended upon initial payments, and fully terminated on July 13, 2018, after ZTE demonstrated compliance with escrow and restructuring requirements. Post-settlement recovery focused on rebuilding supply chains and restoring operations; by late 2018, ZTE resumed production with temporary BIS licenses for limited U.S. imports and accelerated domestic sourcing, though it faced persistent challenges like eroded U.S. market presence—smartphone sales never fully rebounded—and heightened scrutiny from global partners wary of further disruptions. In 2019, despite cash flow strains from fines totaling over $2.4 billion across settlements, ZTE reported stabilizing finances through bank support and cost cuts, with net profit recovering to positive territory by year-end, albeit 40% below pre-ban levels. To enhance resilience, ZTE invested heavily in compliance , including an internal and AI-driven export monitoring systems, while diversifying suppliers away from U.S. dependencies via partnerships with an and Asian vendors; this shift contributed to a 13% increase in 2020, driven by deployments in non-U.S. markets like and . By 2022, ZTE's adherence to monitorship terms—verified through quarterly audits—culminated in a U.S. federal court ruling on March 23, 2022, terminating the five-year from the 2017 , signaling effective remediation of prior violations. Shares surged 16% on the news, reflecting investor confidence in sustained compliance, though ZTE remained bound by the BIS agreement's long-term oversight. The episode underscored ZTE's strategic pivot toward technological , with R&D spending rising 10% annually to mitigate future U.S. restrictions, enabling resilience amid ongoing bilateral frictions. Despite isolated allegations of third-party evasion tactics during the ban period, no direct by ZTE was proven post-, bolstering its operational continuity.

Technological Advancements and Market Recovery (2023–Present)

In 2023, ZTE's growth decelerated to approximately 1% year-on-year amid a slowdown in Chinese capital expenditures, marking the end of a prior recovery trajectory from U.S. sanctions. By 2024, overall fell 2.38% to RMB 121.3 billion, with domestic declining 5.2% due to reduced operator investments, though international rose 4.0%, reflecting diversification into emerging markets. Net profit for 2024 reached RMB 8.42 billion, supported by cost controls and carrier network . A rebound emerged in early , with first-half surging 14.5% year-on-year to RMB 71.55 billion, fueled by AI integration in connectivity and products amid global demand for digital infrastructure. ZTE accelerated 5G-Advanced deployments starting in 2023, enhancing capabilities for 10 Gbps+ seamless connectivity, massive IoT integration, and reconfigurable intelligent surfaces (RIS), with prototypes demonstrated at the 2023 5G Summit in featuring lower power consumption. The company released dynamic RIS 2.0 in June 2023 to improve signal coverage in complex environments. Progress toward included whitepapers on beyond-5G ecosystems published in April 2023 and strategic emphasis on AI-driven sensing and non-terrestrial networks at MWC in June 2025. AI emerged as a core focus for innovation, with ZTE unveiling AI infrastructure, platforms, and terminals under the "Catalyzing Intelligent Innovation" theme at MWC Shanghai 2025 and MWC 2025, including deep integration of AI with telecom networks for predictive optimization. Hardware advancements featured the IceTank immersion liquid cooling server launched at MWC Shanghai 2024 for high-density AI data centers and AI-powered Wi-Fi 7 routers with intelligent antennas showcased at the 2025 Broadband User Congress in . Sustainability metrics improved, with energy efficiency rising 20% from 2021 levels by 2024 and Scope 1 and 2 emissions dropping 13.4% year-on-year.

Corporate Structure

Ownership and Shareholder Composition

ZTE Corporation maintains a dual-listing structure, with A shares traded on the (stock code: 000063) and H shares on the (stock code: 00763). As of 30 June 2025, the company's total stood at 4,783,534,887 shares, comprising 4,028,032,353 A shares and 755,502,534 H shares, with 499,891 registered shareholders (499,598 A-share holders and 293 H-share holders). All shares held by the top 10 shareholders were unrestricted and not subject to lock-up provisions. The controlling shareholder is Zhongxingxin Telecom Co., Ltd., a domestic holding 958,940,400 shares, or 20.09% of the total, including 2,038,000 H shares; this entity exercises control over the through its stake. Zhongxingxin, established as a backed by state-affiliated enterprises such as subsidiaries of China Aerospace Electronics Technology Corporation, reflects significant indirect typical of major Chinese firms. The remaining ownership is dispersed, with substantial holdings by custodians representing foreign investors and domestic institutional funds, many of which are state-linked, underscoring ZTE's alignment with national strategic interests in technology sectors. The top 10 shareholders as of 30 June 2025 are detailed below:
RankShareholder NameNatureShares HeldPercentage
1Zhongxingxin Telecom Co., Ltd.Domestic corporation958,940,40020.09%
2HKSCC Nominees LimitedForeign nominee752,333,97915.73%
3Hong Kong Securities Clearing Co. Ltd.Foreign corporation88,219,8831.84%
4ICBC Ltd. - Huatai Pinebridge Fund57,267,1051.20%
5Central Huijin Asset Management Co. Ltd.State-owned42,171,5340.88%
6 Nantian (Group) Co. Ltd.State-owned41,516,0650.87%
7CCB Ltd. - eFund Fund40,912,2400.86%
8Hexie Co., Ltd.Insurance38,796,6000.81%
9ICBC Ltd. - Fund30,003,3820.63%
10BOC Ltd. - Harvest Fund25,857,3760.54%
HKSCC Nominees Limited serves as a custodian for H-share beneficial owners, aggregating foreign institutional stakes such as those from (approximately 0.94% overall) and (around 1.46% in recent filings). State entities like Central Huijin, a subsidiary of , further embed governmental influence within the shareholder base. No pledged shares were reported among major holders, and there were no noted concerted actions among non-controlling shareholders beyond standard alignments.

Governance and Leadership

ZTE Corporation operates under a framework aligned with Chinese Company Law and the listing rules of the (A-shares) and (H-shares), featuring a responsible for strategic oversight, , and s. The board comprises executive directors, non-executive directors, and independent non-executive directors to ensure balanced and compliance with dual-listing requirements. ZTE maintains an system based on a "three lines of defense" model, encompassing board-level supervision via the , and control functions, and external audits to mitigate risks and enhance transparency. The Board of Directors is chaired by Fang Rong, who was elected to the position on March 31, 2025, succeeding Li Zixue. As Chairman, Fang Rong leads board meetings and represents the company in key external relations, focusing on aligning governance with ZTE's strategic shift toward AI and telecommunications innovation. Xu Ziyang serves as , President, and , a role he has held since July 2018, overseeing daily operations, product development, and global market expansion. His reappointment in March 2025 underscores continuity in executive leadership amid recovery from prior U.S. sanctions. Supporting the CEO are three Executive Vice Presidents: , who manages as ; Li Ying, serving as with oversight of financial strategy and compliance; and Xie Junshi, handling as . These appointments, effective from March 2025, reflect ZTE's emphasis on specialized leadership in core areas like R&D investment and operational efficiency to drive competitiveness in and beyond. The board also includes committee structures, such as the chaired by Jian Sheng Zhuang, which reviews financial reporting and internal controls.

Subsidiaries and Global Operations

ZTE Corporation consolidates financial statements from its subsidiaries where it holds control, including direct and indirect ownership exceeding 50% in many cases. Major subsidiaries encompass Shenzhen Zhongxing Software Co., Ltd. (ZTEsoft), which focuses on software services and reported net profits of RMB 1,478.0 million in 2024 with total assets of RMB 16,421.3 million; ZTE Kangxun Telecom Co., Ltd., fully owned with registered capital of RMB 1,755 million; ZTE (H.K.) Limited, also fully owned with HKD 2,483.75 million in registered capital; and Sanechips Technology Co., Ltd., with 87.22% direct and 12.78% indirect ownership and registered capital of RMB 131.58 million. Other notable subsidiaries include PT. ZTE Indonesia for Southeast Asian operations, ZTE France SASU for European activities, and Netaş Telekomünikasyon A.Ş. in Turkey, acquired as a subsidiary for telecommunications services. In 2024, ZTE acquired an 82% stake in ZTE Hotel Shenzhen Investment & Management Company Limited for RMB 71.31 million, later making it wholly owned, while deregistering entities such as NUBIA USA, Inc. and ZTE SAN MARINO S.r.l. Joint ventures and associates supplement core operations, with equity-method accounting applied; examples include Puxing Mobile Telecom Equipment Co., Ltd. as a joint venture with RMB 857.509 million investment and WHALE CLOUD TECHNOLOGY CO., LTD. as an associate with RMB 1,063.225 million investment. Total investment in subsidiaries reached RMB 17,010.083 million in 2024. Affiliates like Nubia Technology, in which ZTE holds a 49.9% stake, handle consumer devices, though ZTE has reduced majority ownership over time. These entities support ZTE's segments in telecommunications equipment, software, and emerging technologies, with internal controls covering over 90% of group assets and 95% of revenue. ZTE's global operations span more than 160 countries and regions, enabling connectivity for approximately one-third of the world's population through sales outlets, R&D collaborations, and partnerships with over 320 carriers. In , subsidiaries and outlets operate in nations including , , , , , the , , , , , and the , with dedicated entities like ZTE Deutschland GmbH and ZTE España, S.L.U. Presence extends to via entities such as ZTE Corporation , (excluding ) through PT. ZTE and ZTE Corporation SDN. BHD., and the and amid regulatory challenges. International revenue in 2024 totaled RMB 39,293.1 million, comprising 32.39% of consolidated of RMB 121,298.8 million and reflecting a 4.04% year-over-year increase with a of 26.91%. Breakdown by region included RMB 15,390.5 million from (excluding PRC), RMB 6,422.5 million from , and RMB 17,480.1 million from , America, and , driven by contracts in networks, Wi-Fi 7 deployments, and handset sales in over 30 countries. Operations comply with local export controls, with an overseeing activities and overseas cash holdings at RMB 2,181.928 million. ZTE conducts global service partner conferences, as in 18 countries including in 2023, to bolster regional partnerships.

Products and Technologies

Telecommunications Equipment and Networks

ZTE Corporation provides a broad portfolio of encompassing wireless access, core networks, bearer and transmission systems, and supporting software for carrier-grade deployments. Its offerings include (RAN) solutions, evolved packet core (EPC) and 5G core (5GC) architectures, optical transport networks (OTN), packet transport networks (PTN), and equipment, designed for scalability in , IoT, and enterprise applications. In wireless RAN, ZTE specializes in New Radio (NR) technologies, including massive active antenna units (AAUs) such as the 64T64R model for dense urban environments with for enhanced capacity and the 16T16R variant optimized for cost-effective coverage in suburban areas. The company has deployed QCell ultra-wideband solutions supporting 200 MHz contiguous bandwidth in commercial networks, as demonstrated in partnerships with in 2021, enabling high-throughput coverage. Recent innovations include the UniEngine ZXRAN V1100A, an integrated and networking platform for industrial private networks, unveiled at MWC 2024 to support and low-latency applications. ZTE's orchestration tools, such as Intelligent Orchestration , leverage AI for autonomous grid evolution across multi-band frequencies, as showcased at MWC 2025. For core networks, ZTE delivers resilient 5G solutions like Steady Core, introduced in 2023 to mitigate signaling storms and enhance reliability in large-scale deployments through dynamic . Specialized variants include 5G-R Core for railway communications, offering ultra-low latency and massive connectivity for signaling and video surveillance, with deployments supporting bandwidths exceeding traditional LTE systems. These cores integrate with SDN/NFV frameworks for virtualized network functions, enabling flexible slicing for diverse services like eMBB, URLLC, and mMTC. Transmission and bearer networks from ZTE feature multi-protocol label switching transport profile (MSTP), SDH, and advanced optical systems, including packet-switched networks (SPN) for backhaul. In 2025, ZTE demonstrated hollow-core fiber innovations achieving 1.2 Tbps per wavelength and over 100 Tbps system capacity, targeting long-haul efficiency with reduced latency compared to conventional fibers. These solutions support seamless 4G-to-5G evolution via dynamic spectrum sharing at TTI levels, as implemented in operator trials since 2019.

Consumer Devices and Smart Solutions

ZTE's consumer devices division produces smartphones, mobile broadband equipment, and related accessories, targeting both premium and budget segments primarily through the , , and sub-brands. The series features flagship models with advanced features such as connectivity and high-end processors; for instance, the Axon 10 Pro, released in May 2019, included a Snapdragon 855 , 6.5-inch display, and triple-camera setup supporting early networks. More recent offerings like the Z70 Ultra, unveiled in March 2025, emphasize AI integration across ZTE's "AI for All" strategy, incorporating gaming-focused capabilities and extended battery life in the nubia Neo and Focus series. The series caters to entry-level markets with models such as the Blade V70 and V60, featuring 6.7-inch displays, processors, and 5,000mAh batteries for affordability in emerging regions. Beyond smartphones, ZTE manufactures mobile internet devices including 5G hotspots and WiFi routers, such as the ZTE 5G Mobile WiFi supporting LTE Cat7 with download speeds up to 300Mbps and capacity for 32 simultaneous connections via a 3,000mAh battery. These products facilitate portable broadband and home networking, with international sales contributing to a 30% revenue increase in the smartphone and mobile internet sub-segment during the first half of 2025. Overall, ZTE's consumer business generated RMB 17.2 billion in revenue for H1 2025, marking a 7.6% year-over-year rise, driven by growth in home terminals and cloud-integrated devices amid competitive pressures in global markets. In smart solutions, ZTE has developed IoT-enabled home ecosystems, including the AI LinkPro Wi-Fi 7 routers launched in 2025, which integrate with WOWFi for seamless device management in systems and . The company's AI home caregiving solution, combining intelligent monitoring and , earned the "Most Innovative Smart Home Experience" award at Network X 2025 for enhancing household through Smart Cloud support. Additionally, the next-generation SmartView platform, debuted in September 2025, unifies video conferencing, , and control interfaces in a five-in-one to streamline home interactions. These offerings reflect ZTE's pivot toward fixed and AI-driven IoT amid slower 5G adoption in some regions.

Software, AI, and Emerging Innovations

ZTE develops software solutions primarily for networks, including (SDN) and (NFV) technologies to enable network cloudification and reconstruction on unified physical . Its ElasticNet platform integrates SDN and NFV for elastic network capabilities, supporting service orchestration and in telecom operations. ZTE's Common Core solution operates on , providing a converged core for 2G through and fixed networks. In artificial intelligence, ZTE advances AI integration with networks through its AIR Net Solution, which employs three engines—an AI large language model engine, big data engine, and digital twin engine—to drive autonomous network operations and efficiency gains. The company launched the Co-Sight AI Agent Factory in June 2025, a low-code platform for developing and incubating AI agents via modular architecture, aimed at accelerating enterprise AI deployment. ZTE's AI initiatives extend to sector-specific applications, such as an AI-enabled diagnostic assistant for remote healthcare consultations, partnering with medical experts to enhance diagnostics in underserved areas. Emerging innovations include full-stack intelligent infrastructure, featuring high-performance servers, servers, and all-in-one AI computing solutions to support AI ecosystem co-creation and industry-wide adoption. At MWC 2025, ZTE demonstrated AI-powered terminals and applications spanning networks, enterprise tools, and consumer devices, emphasizing deep AI-connectivity integration for intelligent transformation. These efforts align with ZTE's strategy to foster open for next-generation autonomous networks, showcased at DTW 2025 with commercial deployments yielding operational efficiencies.

Research and Development

R&D Investments and Facilities

ZTE Corporation allocates a substantial portion of its revenue to research and development, typically 18-20% in recent years, reflecting a strategic emphasis on technological innovation amid competitive pressures in telecommunications. In 2024, the company's R&D expenses totaled RMB 24.03 billion, equivalent to approximately 20% of its revenue of RMB 121.30 billion. This marked a continuation of elevated spending levels, which had doubled from around 10% of revenue prior to U.S. sanctions to 20% by 2024, driven by needs to rebuild capabilities in core areas like 5G and networks. For the first half of 2025, ZTE reported R&D investments of RMB 12.66 billion, accounting for 18% of operating revenue during that period. These expenditures support advancements in areas such as AI, computing infrastructure, and technologies, with the company filing thousands of related patents annually. ZTE's primary R&D facilities are concentrated in Shenzhen's Hi-Tech in Nanshan , where its and key centers are located, including the ZTE Center at 55 Keji South Road. Specialized centers exist for servers and storage in cities like , , , and , employing nearly 1,000 personnel focused on those domains. Globally, ZTE operates over 20 R&D centers across , , and , including a dedicated facility opened in to enhance international collaboration. The company employs more than 33,000 staff dedicated to R&D worldwide.

Patents, Standards Contributions, and Breakthroughs

ZTE Corporation has amassed a substantial global portfolio, filing over 93,000 applications as of December 31, 2024, with more than 48,000 granted. In technologies, the company filed over 1,000 applications and secured more than 500 grants by the same date. ZTE's holdings are particularly concentrated in , exceeding 3,000 patents related to network technologies and as of 2024. Standard-essential patents (SEPs) constitute about 18.3% of its total portfolio, with ZTE ranking fifth globally in declared SEPs as of March 2024 among over 114,000 such patents worldwide. The company has actively contributed to telecommunications standards development, primarily via the consortium. ZTE submitted over 4,700 technical proposals to by 2019 and held editorial roles for three key specifications, alongside vice-chair positions in relevant working groups. In 2018, it declared more than 1,000 families of SEPs to ETSI, reflecting involvement across standards organizations including and . Independent analyses of activities through 2022 position ZTE as a consistent contributor to technologies, though trailing leaders like , , and in total submissions. ZTE's breakthroughs emphasize advancements in wireless communications and AI integration. It participated in early New Radio (NR) trials, collaborating with partners like and on sub-6 GHz spectrum testing in 2017 to validate 3GPP-compliant prototypes. The company has driven innovations in AI-native networks, deploying solutions in that embed real-time for operational efficiency and savings, as demonstrated at industry events in 2025. Earlier milestones include the 2001 launch of the ZTE802, the first CDMA phone with separable card design, enabling modular upgrades. These efforts align with ZTE's R&D focus on root technologies, as outlined in its 2024 , prioritizing breakthroughs in base-level innovations amid rising investments.

Business Operations and Markets

Key Customers and Partnerships

ZTE's core customer base consists of operators worldwide, which account for the majority of its revenue from network infrastructure and services. In China, the company's largest market, ZTE maintains deep ties with state-owned giants including , with which it has collaborated on core networks, AI-driven cloudification, and energy-efficient solutions since at least 2019. Similarly, partnerships with involve deployments like -Advanced private networks for industrial applications, as demonstrated in Shanghai's 2025 World Conference project. Internationally, ZTE serves operators such as Vodafone, with joint efforts in 5G standardization and ecosystem development dating back to 2017, alongside contributions to commercial LTE networks for carriers like VimpelCom, KPN, and Telenor. Recent expansions include a 2025 optical network initiative with Colombia's ETB, leveraging ZTE's transmission expertise, and dual-network integration for Malaysia's CelcomDigi, recognized with project management awards in 2024. These relationships have supported ZTE's growth in emerging markets, though subject to varying national security reviews. Beyond operators, ZTE pursues strategic technology partnerships to enhance its offerings. In 2024, it allied with to accelerate core innovations using open-source platforms for global deployments. Collaborations with Netgem focus on end-to-end Pay-TV OTT ecosystems, combining ZTE's R&D with Netgem's media expertise. Additionally, a 2025 agreement with Saudi Arabia's TAWAL targets digital energy transformation in telecom infrastructure. These alliances emphasize and , aiding ZTE's diversification into enterprise and digital services.

Market Presence, Revenue, and Competition

ZTE maintains operations in over 100 countries across , , , , and , serving more than 300 carriers with fixed-line network products and dispatching over 100 million home terminals globally. The company's market presence is heavily weighted toward , where it leads in areas such as servers with over 30% share, reflecting reliance on domestic demand from state-owned operators. Internationally, ZTE focuses on emerging markets and tailored solutions like 7 routers, but geopolitical restrictions have reduced its footprint in the U.S. and , with from those regions falling to 15% of total in 2024 from 25% in 2017. In 5G-specific segments, ZTE claims global leadership in Access (FWA) and (MBB) per third-party assessments, amid a broader telecom equipment market that contracted 11% in 2024. For 2024, ZTE recorded total operating revenue of RMB 121.30 billion (approximately US$16.65 billion), down 2.37% from RMB 124.25 billion in 2023, attributable to slowed domestic telecom spending and global market pressures. Domestic revenue comprised 67.61% (RMB 82.01 billion), while international markets contributed 32.39% (RMB 39.29 billion). Segment breakdowns showed Carriers’ Networks generating 57.98% of revenue, driven by 5G-A and system contracts; Government & Corporate Business at 15.30%; and Consumer Business, including handsets and terminals, at 26.72%.
Revenue Segment (2024)Amount (RMB billion)Share (%)
Carriers’ Networks70.3357.98
Government & Corporate18.5715.30
Consumer Business32.4126.72
ZTE faces intense competition from , which holds approximately 30% of the global telecom equipment market; and , with 13-15% shares; and in 5G infrastructure. ZTE's estimated share in telecom equipment ranges from 4% overall to 11% in key submarkets, positioning it as a tier-one vendor but behind , particularly in non-Western regions where Chinese firms have expanded amid vendor shake-ups. Competitive dynamics are shaped by in AI and -A, where ZTE differentiates through cost advantages and domestic ecosystem ties, though Western bans limit access to advanced markets.

Sponsorships and Strategic Engagements

ZTE has engaged in several sports sponsorships to enhance brand visibility in consumer markets. In October 2015, it became the smartphone partner of the NBA's Cleveland Cavaliers, including sponsorship of the team's Chinese New Year celebration and marketing activations. Similarly, ZTE served as the official smartphone of the Chicago Bulls starting in October 2015, securing logo placements on arena pole pads and scoreboards for promotional exposure. In May 2016, the company entered a co-sponsorship with German Bundesliga club Borussia Mönchengladbach as its smartphone partner, featuring joint press events at the club's stadium. From October 2017 to 2020, ZTE held the title of official smartphone of the PGA Tour, marking the tour's first such device sponsorship and focusing on U.S. market penetration through golf-related marketing. More recently, ZTE renewed its technology partnership with Spanish La Liga club Sevilla FC for two additional seasons, providing official tech support and enhanced club integrations. Beyond sports, ZTE has pursued strategic partnerships emphasizing and . In September 2025, it signed a pact with Indonesia's Enterprise to deploy Standalone networks, aiming to advance national . That same month, ZTE collaborated with Quantis on next-generation 4K AI smart set-top boxes for home entertainment, showcased at IBC2025. In June 2025, agreements with XLSMART (post-merger of Indonesian firms) targeted digital connectivity and future-ready networks. Additional 2025 engagements include MoUs with UAE's e& for private networks and green energy, and with Myanmar's ATOM for telecom advancements like real-time . In November 2024, ZTE partnered with Virtuozzo on and hybrid cloud solutions leveraging ZTE's hardware. These initiatives often involve joint ventures, training, and localized operations, as seen in Pakistan's 2025 overtures for collaboration. ZTE also supports social initiatives with financial commitments, such as the 2016 'Xinghua Aid for ' program, which pledged 3 million yuan annually for a decade to aid underprivileged students in . Such engagements align with broader efforts in education and vulnerable groups, though they remain secondary to core telecom partnerships.

Export Control Violations and U.S. Sanctions

In 2010, the U.S. Department of the Treasury's (OFAC) settled with ZTE for apparent violations of U.S. sanctions involving the illegal export of controlled U.S.-origin items to , requiring ZTE to implement a compliance program. Between early 2010 and March 2016, ZTE engaged in a scheme to evade U.S. export controls and sanctions under the (EAR) and the (IEEPA), including falsifying records, using shell companies in and elsewhere, and shipping U.S.-origin valued at over $300 million to for network construction. ZTE also knowingly facilitated 283 shipments of controlled items to , violating EAR restrictions. On March 7, 2017, ZTE reached a record $1.19 billion settlement with multiple U.S. agencies, including the Department of Commerce's (BIS), OFAC, and the Department of Justice (DOJ). This included a $661 million to BIS (with $300 million suspended pending compliance), a $430.4 million criminal fine and forfeiture to DOJ for conspiracy to violate IEEPA, and $100.9 million to OFAC for 251 violations of Iranian sanctions regulations. As part of the agreement, ZTE committed to enhancing its export compliance program, appointing independent monitors, and disciplining responsible employees, including terminating four senior executives and punishing 35 others. ZTE subsequently violated the settlement by making false statements to BIS about implementing these disciplinary actions, prompting BIS on April 16, 2018, to activate a seven-year denial order prohibiting U.S. persons from exporting, reexporting, or transferring items to ZTE without . This effectively cut off ZTE's access to U.S. components critical to its operations, leading to a near-collapse of production and reported layoffs of thousands. On June 11, 2018, following negotiations influenced by U.S.- trade discussions, BIS approved a superseding settlement requiring ZTE to pay an additional $1.0 billion penalty plus $400 million in (forfeited upon further violations), install a U.S.-based compliance team, and accept three years of oversight by designated monitors. BIS then removed the denial order, reinstating ZTE's privileges subject to strict compliance. The total penalties exceeded $2 billion, marking one of the largest enforcement actions in U.S. history.

Bribery Investigations and Resolutions

In 2012, an Algerian court convicted two ZTE executives in absentia of charges stemming from a scheme to a senior official at state-owned Algérie Télécom with approximately $10 million between 2003 and 2006 to secure contracts. The executives received 10-year prison sentences and fines equivalent to about $65,000 each, while ZTE and faced a two-year ban from bidding on public contracts in . ZTE did not publicly comment on the ruling at the time, though the case contributed to broader scrutiny of the company's overseas practices. The 2007 NBN-ZTE broadband project in the triggered a major after allegations surfaced of and contract overpricing in a $329 million deal awarded to ZTE by the government. Whistleblower Rodolfo "Jun" Lozada testified that ZTE officials offered bribes, including to Philippine officials, to facilitate the agreement, leading to investigations and the contract's cancellation amid public outcry. No criminal convictions directly resulted against ZTE as a corporate entity, though related probes implicated local figures and contributed to political fallout for then-President , who was later acquitted by the Supreme Court in 2021 on graft charges tied to the deal. In March 2020, the U.S. Department of Justice initiated an investigation into ZTE for potential violations of the , focusing on alleged bribes paid to foreign officials in countries including , , , and to obtain contracts. ZTE denied awareness of the probe and stated it had not received formal notification from U.S. authorities. A 2020 report by Capitol Corruption Advisors highlighted additional evidence of ZTE's bribery in (a $2 million payment for contracts) and reiterated the Algerian case, urging DOJ prosecution under the FCPA, though no charges or settlement have been announced as of 2023. Other incidents include a 2010 U.S. civil lawsuit alleging ZTE bribed Liberian officials to displace an American competitor in a bidding process, and Norway's divesting ZTE shares in 2016 citing "gross risk" based on the Algerian convictions. These cases prompted ZTE to enhance its internal anti-bribery compliance program, including policies aligned with international standards to prevent recurrence.

National Security Scrutiny and Allegations

In 2012, the U.S. House Permanent Select Committee on Intelligence issued a report concluding that ZTE, along with , posed a significant threat due to opaque ties to the Chinese government and , lack of transparency in corporate structure, and potential for or through . The bipartisan investigation, initiated in November 2011, highlighted risks including the inability to verify independence from Chinese state influence, historical patterns of theft by Chinese firms, and ZTE's operations in countries under U.S. sanctions like , which could enable gathering. It recommended that U.S. government agencies and entities avoid business with ZTE and block its access to U.S. markets for . U.S. intelligence agencies have repeatedly warned of risks from ZTE , citing China's National Intelligence Law of 2017, which mandates companies to support state intelligence work, potentially enabling backdoors for cyber surveillance or data interception in networks. In 2018, the testified that ZTE mobile devices could facilitate Chinese government spying on users. The (FCC) formalized these concerns in June 2020 by designating ZTE a risk, prohibiting use of federal subsidies for its and authorizing removal of existing installations via the "Rip and Replace" program. In November 2022, the FCC banned approvals for new ZTE sales and imports, citing unmitigated risks to communications infrastructure. Internationally, multiple governments have restricted ZTE on similar grounds. Australia prohibited ZTE from supplying equipment in 2018, followed by bans or severe limitations in the , , and due to fears of embedded vulnerabilities exploitable by . In the , 11 member states had enacted high-risk vendor restrictions targeting ZTE and by 2024, with the urging broader adoption in 2023 to safeguard networks from . ZTE has denied these allegations, asserting compliance with local laws and no evidence of state-directed spying, though critics note the firm's partial state ownership and history of sanctions violations undermine such claims. Recent actions through 2025 reflect ongoing scrutiny. In July 2025, the FCC proposed extending bans to ZTE in U.S.-linked subsea cables, citing persistent ties to Chinese entities posing threats. Earlier in March 2025, the FCC initiated probes into residual and ZTE equipment in U.S. telecom networks, enforcing its Covered List designations amid broader efforts to eliminate Chinese-sourced gear from . These measures stem from empirical assessments of vulnerabilities rather than confirmed breaches, prioritizing prevention given China's documented cyber operations.

International Restrictions and Compliance Efforts

In April 2018, the U.S. Department of Commerce's (BIS) imposed a order prohibiting U.S. companies from exporting goods, software, or technology to ZTE, after determining the company had violated prior settlement terms by obstructing investigations into its sanctions evasion, including firing four employees who reported compliance issues to U.S. authorities and issuing bonuses to executives for non-disclosure. This followed ZTE's 2017 guilty plea for conspiring to violate U.S. sanctions by illegally shipping over $300 million in U.S.-origin items to between 2010 and 2016, resulting in an initial $892 million settlement that included compliance audits and a third-party monitor. The 2018 ban halted ZTE's main business operations, as it relied heavily on U.S. components like chips, leading to a reported operational shutdown announcement on May 9, 2018. To resolve the ban, ZTE entered a superseding settlement on June 11, 2018, paying an additional $1.4 billion in penalties (including $1 billion released from and $400 million held conditionally), its board and management, and establishing an American-led compliance team with a designated compliance officer reporting directly to the CEO. BIS terminated the denial order on July 16, 2018, allowing resumption of exports under strict oversight, but a U.S. federal extended the independent compliance monitor's term from four to six years in October 2018, citing ZTE's probation violations such as inadequate internal investigations. The monitorship, which required semiannual reports on ZTE's adherence, concluded in April 2022 after verifying implementation of enhanced internal controls, risk assessments, and employee training programs. Beyond the U.S., ZTE has faced restrictions in allied nations over concerns related to potential risks from its equipment, particularly in networks. Australia banned ZTE from supplying infrastructure in 2018, citing intelligence assessments of undue Chinese government influence, while the removed ZTE from its approved vendor list for core networks in July 2020 and phased out high-risk vendors by 2027 under the Telecommunications Security Code. In November 2022, the U.S. designated ZTE equipment as posing an unacceptable risk, prohibiting new authorizations for sales or use in U.S. networks and requiring rip-and-replace funding for existing deployments. The , in June 2023, recommended member states conduct risk assessments and restrict high-risk vendors like ZTE in , with several countries such as and following suit by barring ZTE from auctions. ZTE's compliance efforts post-2018 have emphasized a "" policy for violations, including annual third-party audits of export controls, mandatory global training for over 80,000 employees on U.S. and , and integration of AI-driven monitoring tools for transaction screening. Despite these measures, ZTE remains subject to ongoing U.S. designations for certain affiliates, requiring licenses for most s, and has reported sustained revenue growth in non-restricted markets while advocating for removal from security blacklists through diplomatic channels.

Recent Developments

Financial Performance and Sustainability Initiatives (2023–2025)

In 2023, achieved operating of RMB 124.25 billion, marking growth driven primarily by its domestic market, which contributed RMB 86.48 billion or 69.6% of total . Net profit attributable to ordinary shareholders reached RMB 9.33 billion, a 15.4% increase year-over-year, supported by improved in and carrier networks. For 2024, revenue declined to RMB 121.30 billion, a 2.38% decrease from the prior year, with domestic sales at RMB 82.01 billion comprising 67.6% of the total. Net profit fell to RMB 8.42 billion, reflecting pressures from international market competition and supply chain costs in and ICT sectors. In the first half of , ZTE reported interim of RMB 71.55 billion, up 14.5% year-over-year, fueled by demand for AI-integrated products and carrier services, though net profit declined 11.77% due to elevated R&D and operational expenses. International rose 7.77% to RMB 20.94 billion, for 29.3% of the half-year total.
Year/PeriodRevenue (RMB billion)Net Profit (RMB billion)Key Driver
2023 (Full)124.259.33 expansion
2024 (Full)121.308.42Competitive pressures in ICT
2025 (H1)71.55(Decline 11.77% YoY)AI and demand growth
ZTE's sustainability initiatives during 2023–2025 emphasized green operations, decarbonization, and digital efficiency, as outlined in its annual reports, though these self-reported metrics lack independent third-party verification beyond select approvals. In 2023, the company audited over 150 suppliers for carbon reduction, achieving a 3.26% emissions cut, and assessed carbon footprints for 101 products while accumulating over 650 green patents. By 2024, ZTE secured (SBTi) approval for its near-term 1.5°C-aligned emissions goals and long-term net-zero target, the first for a major Chinese ICT firm, alongside inclusion on the for . Efforts included developing green smart campuses for low-carbon offices and advancing energy-efficient networking technologies to support dual-carbon goals (peak and neutrality). In 2025, ZTE continued ESG training and governance frameworks to integrate into operations, focusing on AI-enabled green innovations amid rising global scrutiny of corporate environmental claims in the telecom sector. These initiatives align with China's national carbon policies but face challenges in verifiable impact measurement, as progress relies heavily on internal data.

AI-Driven Innovations and Global Events

In 2025, ZTE expanded its AI ecosystem with hardware advancements including high-performance training servers, cost-efficient inference servers, and all-in-one AI computing solutions designed for scalable intelligent . The company integrated AI into core network architecture via its AI Core platform, enabling visualized experience management and automated operations through "Know How" and "Do How" capabilities. In healthcare applications, ZTE deployed AI models for efficient tumor image analysis, , and large-scale remote diagnostics to support medical professionals in resource-limited settings. ZTE emphasized AI-driven network autonomy, unveiling innovations at DTW 2025 for AI-powered autonomous networks that enhance and self-optimization in infrastructure. For broadband and fixed wireless access, the firm introduced the AI FWA Solution at GITEX Global 2025, incorporating green, intelligent, and secure features for optimized connectivity. Additional developments included AI x Optical solutions for energy-efficient broadband evolution and AgentGuard AI agents for handling complex tasks like multi-step interactions. ZTE showcased these technologies at major global events in 2025, including MWC under the theme "Catalyzing Intelligent Innovation," where it presented full-stack AI , networks, and terminals. The company hosted its Global Summit & User Congress in , , on October 6–7, focusing on expanding across ecosystems with demonstrations of AI-integrated core networks and . At Network X 2025 and the Broadband User Congress in , ZTE highlighted AI-boosted broadband benefits, including intelligent 7 and optical innovations for home and enterprise use. Further participation occurred at Futurecom 2025, emphasizing AI integration in full-stack telecom capabilities, and M360 , where ZTE promoted AI-embedded RAN networks and the "5i" framework for intelligent economy bridging.

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