Friday, January 28, 2011
ZTE Announces Preliminary Financial Results for 2010
HONG KONG - Thursday, January 27th 2011 [ME NewsWire]
-(BUSINESS WIRE)-- ZTE Corporation (“ZTE” or the “Group”) (H share stock code: 0763.HK / A share stock code: 000063.SZ) today announced its 2010 Preliminary Financial Results.
Applying PRC ASBEs, during the year under review, the Group’s revenue from principal operations was approximately USD 10619.84 million, representing an increase of 16.69% compared to 2009. Net profit attributable to shareholders of the company was USD 491.34 million, representing an increase of 32.39% against 2009 and earnings per share amounted to USD 0.18. The increase in net profit was mainly attributable to Group sales growth and the recognition of investment income from the listing of one of the company’s associates, Nationz Technologies Inc. by way of an initial public offering.
As of 31 December 2010, the total assets of the Group increased by 20.40% to USD 12424.99 million compared to the end of the previous year; Shareholders’ equity attribute to the owners of the company increased by 37.28% to USD 3487.55 million compared to the end of the previous year, which was mainly attributable to an increase in retained profits during 2010 and the growth in share capital and capital reserves following the company’s placing of new H shares in January 2010 and the exercise of the company’s A share Warrants in February 2010.
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