China's ZTE Corp H1 net profit up 32.5 pct yr-on-yr on strong sales - UPDATE |
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Thu, 16 Aug 2007 12:24
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BEIJING (XFN-ASIA) - China's ZTE Corp (SZA 000063; HK 0763), one of the country's major telecom equipment manufacturers, said it posted a net profit of 459.84 mln yuan in the first six months to June under Chinese accounting standards, a rise of 32.5 pct year-on-year on the back of strong sales growth.The company booked operating revenue of 15.23 bln yuan in the first half, up 43.85 pct from a year earlier, it said.Of the total revenue, that sourced from overseas markets surged 99 pct year-on-year to 7.97 bln yuan, the company said.It said its main revenue contributors were equipment for China's homegrown mobile technology standard TD-SCDMA and Global System For Mobile communication (GSM) systems as well as its third-generation (3G) mobile phones.ZTE has also won bids to provide TD-SVDMA network products for China Mobile in Beijing, Tianjin, Shenzhen, Shenyang, Qinhuangdao and Xiamen, it said.Mobile phone revenue stood at 3.59 bln yuan for the first half to June, up from 2.13 bln yuan last year.Additionally, the company's key GSM and CDMA products entered developed markets in Western Europe and North America in the first half.ZTE will further expand its overseas market share in the second half, it noted.Earnings per share (EPS) stood at 0.48 yuan, up from 0.36 yuan in the corresponding period last year.It did not make any profit or sales forecasts for the second half.( 1 usd = 7.57 yuan )kelly.zang@xfn.comkz/kmqxfnkz/xfnkmCOPYRIGHTCopyright AFX News Limited 2007. All rights reserved.The copying, republication or redistribution of AFX News Content, including by framing or similar means, is expressly prohibited without the prior written consent of AFX News.
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