Gadgets & Electronics, Telecom & Wireless

ZTE's Operating Revenue Up 13.09%

Chinese telecom device maker ZTE's semi-annual performance report for the first half of 2017 shows that the company realized operating revenue of CNY54.011 billion, a year-on-year increase of 13.09%.

Its operating profit was CNY3.294 billion, a year-on-year increase of 564.83%; and its net profit was CNY2.294 billion, a year-on-year increase of 29.85%.

ZTE attributed its performance growth to the continuous investments in Chinese telecom operators in 4G transmission and access systems. Its wireless communications, fixed-line network, and bearing system all saw operating revenue and gross profit increases. At the same time, with its expansion into overseas markets, ZTE's mobile phone operating revenue and gross profit also reported increases. Therefore, the company achieved overall increases of both operating revenue and gross profit.

ZTE also launched a new round of equity incentive plans for its employees covering nearly 2,000 core staff. The company insisted on a compliance governance and enhanced internal controls while paying special attention to the interests of employees and shareholders.

In addition, since March 2016, ZTE's expenditure ratio has been showing a stable decreasing trend. In the first quarter of 2016, ZTE's expenditure accounted for 15.96% of its operating revenue, while in the first quarter of 2017, the ratio was 13.42%.

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