A ZTE building in Beijing Photo: VCG

Chinese telecom equipment maker ZTE released annual results on Tuesday, reporting an operating revenue of 114.52 billion yuan ($18.12 billion), an increase of 12.9 percent compared with 2021.  

According to the report, the comprising operating revenue from the domestic and the international markets reached 78.07 billion yuan ($12.35 billion) and 36.45 billion yuan ($5.77 billion) respectively, a year-on-year growth of 59.9 percent, with basic earnings per share of 1.47 yuan.

The company attributed its growth in the domestic market to its deep involvement in large-scale 5G construction in China and the opportunities it seized for development in new infrastructure to empower digital transformation in various industries. 

In terms of business segments, the operating income from carrier networks increased by 2.3 percent year-on-year due to the increase in operating income from 5G wireless services, servers and other products. 

The operating income from consumer business increased by 59.2 percent year-on-year as the result of the rise in operating income from cell phones, which mainly came from the increase in mobile phones, home information terminals and other products.

ZTE said it was not charged in a case involving an alleged conspiracy to commit a visa fraud, after some media reported that the Chinese firm received a US federal court order earlier.