ZTE Guides for 29.9% Gain in 6-Month Net Profit
Year-on-year increase powered by network infrastructure and mobile devices
SHENZHEN, China, July 19, 2017 /PRNewswire/ — ZTE Corporation (0763.HK / 000063.SZ), a major international provider of telecommunications, enterprise and consumer technology solutions for the Mobile Internet, published guidance for a 29.9% increase in net profit in the first half, as the company posted growth in its network infrastructure and mobile devices businesses.
Net profit attributable to holders of ordinary shares of the listed company in the first six months was RMB 2.294 billion, based on the preliminary financial statement published by ZTE today. Revenue in the first-half increased to RMB54.011 billion, 13.1% higher than last year, helped by growth in operations including wireless network, wireline network and bearer network, in addition to handsets, with improvements in gross profit margins.
ZTE is a provider of advanced telecommunications systems, mobile devices, and enterprise technology solutions to consumers, carriers, companies and public sector customers. As part of ZTE’s strategy, the company is committed to providing customers with integrated end-to-end innovations to deliver excellence and value as the telecommunications and information technology sectors converge. Listed in the stock exchanges of Hong Kong and Shenzhen (H share stock code: 0763.HK / A share stock code: 000063.SZ), ZTE’s products and services are sold to over 500 operators in more than 160 countries. ZTE commits 10 per cent of its annual revenue to research and development and has leadership roles in international standard-setting organizations. ZTE is committed to corporate social responsibility and is a member of the UN Global Compact. For more information, please visit www.zte.com.cn.