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ZTE Expects 2012 Loss

Light Reading
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Light Reading
1/21/2013
50%
50%

SHENZHEN, China -- ZTE Corporation (“ZTE”) (H share stock code: 0763.HK / A share stock code: 000063.SZ), a publicly-listed global provider of telecommunications equipment and network solutions, expects to report a profit in the first quarter of 2013 as a result of the company’s operational review and strategic realignment efforts. The company is steadfastly executing its comprehensive strategic review begun last year to sharpen its focus on key products and markets and strengthen cash flow management. ZTE is generating net cash inflows from operations as the company recorded higher sales collection, achieved increased profitability on new contracts, applied stringent cost controls and recognized investment gains. Due to delays in the progress of some domestic and international network projects, the recognition of earlier lower-margin contracts and a drop in revenue for terminal products, ZTE may post a full-year net loss attributable to shareholders of the listed company of between RMB2.5 billion and RMB2.9 billion in 2012, a reversal of 221.35% and 240.77% compared to a year earlier. ZTE will continue to implement the company’s operational review to improve its competitiveness, efficiency and innovation capabilities to lay the groundwork for healthy growth in the future. ZTE Corp.

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