ZTE
issues guidance for net profit to increase between 107.3% and 210.7% to
RMB 425 million to RMB 637 million; company optimistic about business
prospects
SHENZHEN, China - Thursday, April 10th 2014 [ME NewsWire]
ZTE
Corporation (“ZTE”) (H share stock code: 0763.HK / A share stock code:
000063.SZ), a publicly-listed global provider of telecommunications
equipment, network solutions and mobile devices, forecast the company’s
first-quarter profit will at least double from the same period last
year, reflecting the strengthening of core operations.
Net profit
attributable to shareholders of the listed company will be between RMB
425 million and RMB 637 million in the first quarter, a year-on-year
increase of between 107.3% to 210.7%, according to ZTE’s preliminary
results announcement filed to the Hong Kong stock exchange today. Basic
earnings per share will be between RMB 0.12 and 0.19, compared to RMB
0.06 a year earlier, based on pre-audited financial data.
ZTE
expects to record significant increases in both first quarter gross
profit and gross profit margins, as the company continued to focus on
servicing higher-margin contracts. Operating revenue from 4G
infrastructure systems in China as a percentage of overall revenue
increased, while gross profit margins for international projects
improved.
The profitability of the company’s principal business
recorded a relatively significant increase. It is expected that net
profit after extraordinary items attributable to shareholders of the
listed company will be over RMB 583 million in the first quarter,
compared to a loss of RMB 615 million a year earlier.
ZTE is
optimistic about the company’s business prospects as global 4G network
deployments accelerate and demand for 4G mobile devices increase.
About ZTE
ZTE
is a publicly-listed global provider of telecommunications equipment
and network solutions with the most comprehensive product range covering
virtually every telecommunications sector, including wireless, access
& bearer, VAS, terminals and professional services. The company
delivers innovative, custom-made products and services to over 500
operators in more than 160 countries, helping them to meet the changing
needs of their customers while growing revenue. ZTE commits 10 per cent
of its annual revenue to research and development and has leadership
roles in several international bodies devoted to developing
telecommunications industry standards. ZTE is committed to corporate
social responsibility and is a member of the UN Global Compact. The
company is China’s only listed telecom manufacturer that is publicly
traded on both the Hong Kong and Shenzhen Stock Exchanges (H share stock
code: 0763.HK / A share stock code: 000063.SZ). For more information,
please visit www.zte.com.cn.
Contacts
ZTE Corporation
Margrete Ma, +86 755 26775207
ma.gaili@zte.com.cn
Edelman PR
Mark Lee / Andres Vejarano
Tel: +852 2837 4756 / 2837 4735
mark.lee@edelman.com
andres.vejarano@edelman.com
Permalink: http://www.me-newswire.net/news/10644/en
No comments:
Post a Comment