ZTE said revenues for the full year rose almost 12 percent year-on-year to CNY 101.379 billion. The operating profit however fell almost 27 percent to CNY 5.537 billion, while the net profit slid a bit over 15 percent to CNY 4.366 billion. The company attributed the lower net profit to the strong growth showed the year before, bolstered by a one-off tax gain of CNY 3.662 billion from asset disposals. The operating cash flow meanwhile advanced 37 percent to CNY 10.230 billion.
For the fourth quarter, the net profit reached CNY 1.655 billion, jumping 62.2 percent from the year before and 93.6 percent quarter-on-quarter.
The company said 2020 revenues rose both at home and abroad, and from its three main business segments, namely carrier networks, the consumer business and the government and corporate business. In the domestic market, growth came from the development of 5G and new infrastructure. On the international market, the company said improvements came from sound operations and efforts to explore high-value market segments.
