Business

ZTE preliminary financial statement guides for 293% net profit increase

ZTE preliminary financial statement guides for 293% net profit increase

Company is forecasting a total net profit of RMB 4.55 billion for the whole year

ZTE Corporation published guidance for a 293% increase in net profit for the whole year of 2017 ended 31 December 2017, bolstered by growth in the company’s carrier networks and consumer businesses.

According to the company, the operating revenue was RMB 108.82 billion, 7.49% higher than a year earlier. Net profit attributable to holders of ordinary shares of the listed company in the whole year2017 was RMB 4.55 billion, an increase of 293% based on the preliminary financial statement.

In 2017, benefiting from continuous investments in telecommunications networks by global operators and the expansion in consumer businesses and government-enterprise markets, the company’s operating revenue from carriers’ networks, consumer business, and government-enterprise business undergo a year-on-year growth. In 2017, the company strengthened its cash flow and sales revenue collection management. The company’s net cash flow from operating activities for 2017 is approximately RMB 6.78 billion, about 28.88% year-on-year growth. Excluding the impact of penalty payments imposed by U.S government authorities, the company’s net cash flow from operating activities was RMB 12.44 billion, representing an increase of approximately 136.58% over the previous year.

In 2017, the company focused on the market of mainstream carriers and high-value customers, and persisted in a proactive yet prudent business strategy while exploring new opportunities for growth. Meanwhile, it actively took part in global network construction and technological evolution. On the back of its stock-up of technologies and products competitiveness over the years, the company seized opportunities arising from changes in the global market landscape and technological revolutions to gradually enhance its global market position.

image: pexels
source: ZTE

 

Comments

comments