Forecasting a total net profit of RMB 4.55 billion for the whole year
SHENZHEN, China, Feb. 2, 2018 /CNW/ -- ZTE Corporation (0763.HK / 000063.SZ), a major international provider of telecommunications, enterprise and consumer technology solutions for the Mobile Internet, 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 year 2017 was RMB 4.55 billion, an increase of 293% based on the preliminary financial statement published by ZTE today.
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.
ZTE is a provider of advanced telecommunications systems, mobile devices, and enterprise technology solutions to consumers, carriers, companies and public sector customers. As part of ZTE's strategy, the company is committed to providing customers with integrated end-to-end innovations to deliver excellence and value as the telecommunications and information technology sectors converge. Listed in the stock exchanges of Hong Kong and Shenzhen (H share stock code: 0763.HK / A share stock code: 000063.SZ), ZTE's products and services are sold to over 500 operators in more than 160 countries. ZTE commits 10 per cent of its annual revenue to research and development and has leadership roles in international standard-setting organizations. ZTE is committed to corporate social responsibility and is a member of the UN Global Compact. For more information, please visit www.zte.com.cn.
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SOURCE ZTE Corporation