China’s ZTE Corporation recently announced its financial results for the third quarter of 2023. The revenue was CNY 28.689 billion, a decrease of 12.38% compared to the previous year. However, the net profit was CNY 2.369 billion, an increase of 5.09%. This contrasts with the performance in 1H23 when both revenue and net profits grew, justifying previous concerns from ZTE regarding an impending performance decline.