Chinese telecom device maker ZTE recently published its report for the third quarter of 2020.

According to the financial report, ZTE realized operating revenue of CNY74.13 billion from January to September 2020, a year-on-year increase of 15.4%; its net profit attributable to ordinary shareholders of listed companies was CNY2.71 billion; its net profit after deducting non-recurring gains and losses was CNY1.45 billion; and its basic earnings per share were CNY0.59.

From July to September 2020, ZTE achieved operating revenue of CNY26.93 billion, a year-on-year increase of 37.2%; its net profit attributable to ordinary shareholders of listed companies was CNY850 million; and its net profit after deducting non-recurring gains and losses was CNY540 million.

During the first three quarters of 2020, ZTE invested CNY10.79 billion in research and development, with a year-on-year increase of 15.3%, accounting for 14.6% of the revenue. The company continued to strengthen its core competitive advantage in the 5G era.

By the end of September 2020, ZTE had gained 55 5G commercial contracts worldwide, and implemented 5G cooperation with more than 90 operators around the world, covering over 500 industries.