China's ZTE nine-month net income soars

China's ZTE nine-month net income soars

Chinese telecom equipment and networking gear provider ZTE Corp has reported a more than 100% jump in nine-month financial results to the end of September.

According to a press release from the international provider of telecommunications, enterprise, and consumer technology solutions for the Mobile Internet, net profit attributable to holders of ordinary shares of the listed company reached RMB 5.85 billion, an increase of 115.8%, and net profit after extraordinary items attributable to holders of ordinary shares of the listed company amounted to RMB 3.34 billion, representing a year-on-year increase of 130.9%. Basic earnings per share was RMB 1.26.

ZTE's operating revenue was up to RMB 30.75 billion for the third quarter of 2021, the highest single quarter in the past three years, representing a 14.2% year-on-year growth and a 14.6% quarter-on-quarter growth respectively.
From July to September, the operating revenue from the company’s operator network has increased by about 25% quarter on quarter, and net profit attributable to holders of ordinary shares of the listed company reached RMB 1.77 billion, 107.6% higher than a year earlier. Net profit after extraordinary items attributable to holders of ordinary shares of the listed company for the third quarter amounted to RMB 1.23 billion, representing a year-on-year increase of 125.4%.

For the first three quarters of 2021, ZTE has stayed committed to becoming a "driver of the digital economy". To seize the opportunities of digital transformation, the company has been deeply involved in the large-scale constructions of 5G networks in China, while continuously optimizing its mainstream products for overseas markets and its major market landscapes.

The company’s 5G mobile internet products have cumulatively been sold in more than 30 countries and regions. Besides, for its terminals, the company, backed up with its core technologies and innovation capabilities, has also witnessed breakthroughs in cutting-edge technologies such as 5G radio frequency, human-computer interaction, computational photography, and V2X cloud control platform, further facilitating the construction of the terminal "1+2+N" ecosystem.

Sign-up to our weekly newsletter

Keep up-to-date with all the latest news, articles, event and product updates posted on Developing Telecoms.
Subscribe to our FREE weekly email newsletters for the latest telecom info in developing and emerging markets globally.
Sending occasional e-mail from 3rd parties about industry white papers, online and live events relevant to subscribers helps us fund this website and free weekly newsletter. We never sell your personal data. Click here to view our privacy policy.