ZTE expects to improved profitability for full-year 2021, with double-digit revenue growth. Preliminary figures show net profit from ordinary operations jumping around 60 percent to CNY 6.5-7.2 billion, and the net profit after extraordinary items leaping at least 190 percent to CNY 3.0-3.5 billion, with basic earnings per share at CNY 1.40-1.55.
Both profit figures were a new record for the company. Without releasing revenue figures, ZTE said it achieved double-digit year-on-year growth in operating revenue, with both domestic and international markets and all its three major businesses (operator networks, government and enterprise services and consumer services) seeing year-on-year growth in operating revenue.
In China, the company said it grew its market share for 5G, core network, transport network, and server & storage products, in line with its aim of moving from a mainstream to a core supplier. Overseas, ZTE worked on 4G network upgrades, 5G infrastructure deployments, fixed networks upgrades to fibre, and transport network and home broadband product upgrades.
ZTE also put attention on its IT, digital energy and terminal businesses for its second growth curve. In the IT field, the company consolidated its server and storage products, and operating system and database, with the operating revenue for these IT products reaching CNY 10 billion. The company also established two special groups for 5G services, dedicated to mining and metallurgy, and set up an automotive electronic product line and digital energy group.
