ZTE, the Chinese telecommunications equipment giant, disclosed its third-quarter report, achieving a net profit attributable to shareholders of listed companies of 1.307 billion yuan in Q3 2026, a year-on-year increase of 394.46%. During the same period, operating revenue reached 38.813 billion yuan, up 33.99% year-on-year. However, the cumulative net profit for the first three quarters was 4.060 billion yuan, a year-on-year decrease of 23.71%. Excluding non-recurring gains and losses, the non-IFRS net profit was 2.814 billion yuan, down 27.46% year-on-year. The company stated that the Q3 performance rebound was partly due to 715 million yuan in non-recurring gains and losses, primarily from changes in fair value and disposal gains of financial assets. Additionally, as of the end of September, the company's inventory scale reached 73.635 billion yuan, an increase of 56.61% from the end of 2025. The net cash flow from operating activities for the first three quarters was 715 million yuan, a year-on-year decrease of 59.78%, indicating cash flow pressure.