ZTE records 36.58% profit gain in 9-month forecasts

Total yearly net profit at RMB 4.3-4.8bn

ZTE Corporation, a major international provider of telecommunications, enterprise and consumer technology solutions for the Mobile Internet, published guidance for a 36.58% increase in net profit for the nine months ended 30 September, 2017.

Net profit attributable to holders of ordinary shares of the listed company in the first nine months was RMB 3.905 billion, based on the preliminary financial statement published by ZTE recently. Revenue in the first nine months increased to RMB76.580bn, 7.01% higher than last year.

According to the company, the net profit attributable to holders of ordinary shares of the listed company, bolstered by the growth of operations in carriers’ network and consumers business, is estimated to be RMB 4.3-4.8bn for the whole year.

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, 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.
The company is committed to corporate social responsibility and is a member of the United Nations Global Compact.

Ganiyu Obaaro