Skip to main content

China’s ZTE sees revenue surge in H1 despite COVID-19 impact

Abstract : Chinese telecom equipment maker ZTE saw surges in both operating revenue and net profit in the first half-year despite the challenges posed by the COVID-19 pandemic.

SHENZHEN, Aug. 30 (Xinhua) –Chinese telecom equipment maker ZTE saw surges in both operating revenue and net profit in the first half-year despite the challenges posed by the COVID-19 pandemic.

The company said in its earnings report filed to the Shenzhen Stock Exchange on Friday that it realized a net profit of 1.86 billion yuan (about 271 million U.S. dollars) attributable to common shareholders in the first half of 2020, up 26.3 percent year on year.

The company’s operating revenue increased by 5.8 percent year on year in the first six months to reach 47.2 billion yuan.

The report showed that ZTE continued to increase its investment in 5G research and development, reaching 6.64 billion yuan in the first half, accounting for 14.1 percent of its operating revenue. Meanwhile, ZTE earned 34.97 billion yuan from network operators, up 7.7 percent year on year. Enditem

About Xinhua Silk Road

Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.China’s silk road economic belt and the 21st century maritime silk road website,includes BRI Policy,BRI Trade,BRI Investment,Belt and Road weekly,Know Belt and Road,and the integrated information services for the Belt and Road Initiative (BRI).

Source: China’s ZTE sees revenue surge in H1 despite COVID-19 impact

Labels:

Comments

Post a Comment

Popular posts from this blog

Chinese enterprise starts work on Fiji’s Lautoka port yard 3 project

Abstract : China Railway First Group (Fiji) Co., Ltd (CRFG) on Monday started to work on Fiji's Lautoka Yard 3 development project intended to increase the storage capacity of the Lautoka port 24 km north of Fiji's third largest city Nadi. SUVA, Feb. 22 (Xinhua) — China Railway First Group (Fiji) Co., Ltd (CRFG) on Monday started to work on Fiji’s Lautoka Yard 3 development project intended to increase the storage capacity of the Lautoka port 24 km north of Fiji’s third largest city Nadi. Speaking at the groundbreaking of the project, Fiji’s Permanent Secretary for Commerce, Trade , Tourism and Transport Shaheen Ali said, “This project needs to be delivered in a timely manner, without compromise to quality and standards. I am sure China Railway First Group (Fiji) Co, Ltd is up to the task.” The new project will significantly boost Fiji’s ability to deal with trade and efforts to turn into a transshipment hub in the Pacific, according to the minister. With some four millio
Post a Comment
Read more

Interview: Egyptian-Chinese cooperation against COVID-19 reflects strength of ties, says Egyptian minister

Abstract : Egyptian-Chinese cooperation in the fight against the COVID-19 pandemic reflects the strength and durability of the two countries' relations, said Egyptian Minister of State for Information Osama Heikal. SHARM EL SHEIKH, Egypt , Sept. 27 (Xinhua) — Egyptian-Chinese cooperation in the fight against the COVID-19 pandemic reflects the strength and durability of the two countries’ relations, said Egyptian Minister of State for Information Osama Heikal. “In such circumstances, countries need to cooperate with each other in a way that demonstrates solidarity and reflects strength in relationships … Egyptian-Chinese cooperation is a good example,” the minister told Xinhua in a recent interview. Egypt-China relations are strong and deeply-rooted, and will gain a greater momentum in the coming years, he said. The minister praised China’s handling of the pandemic, saying that every country has dealt with the crisis according to its own circumstances. “I believe that the E
Post a Comment
Read more

【Financial Str. Release】China’s forex reserves expand to 3.2218 trln USD

Abstract : China's foreign exchange reserves expanded to 3.2218 trillion U.S. dollars at the end of May, up 23.6 billion dollars from a month earlier, official data showed Monday. BEIJING, June 7 (Xinhua) — China’s foreign exchange reserves expanded to 3.2218 trillion U.S. dollars at the end of May, up 23.6 billion dollars from a month earlier, official data showed Monday. Enditem About Xinhua Silk Road Xinhua Silk Road (en.imsilkroad.com) is the Belt and Road Initiative (BRI) portal.China’s silk road economic belt and the 21st century maritime silk road website,includes BRI Policy, BRI Trade, BRI Investment, Belt and Road weekly, Know Belt and Road, and the integrated information services for the Belt and Road Initiative (BRI). Source: 【Financial Str. Release】China’s forex reserves expand to 3.2218 trln USD
Post a Comment
Read more