ZTE: Net profit of 4.367 billion yuan in 2020, down 15.18% year-on-year

Jiwei.com News: On the evening of January 22, ZTE released its 2020 performance report. In 2020, ZTE achieved operating income of 101.379 billion yuan, a year-on-year increase of 11.73%, and the operating income of the three major businesses all achieved year-on-year growth.

In the fourth quarter of 2020, ZTE's net profit attributable to ordinary shareholders of listed companies was 1.655 billion yuan, a year-on-year increase of 62.21% and a month-on-month increase of 93.57%.

In 2020, the net profit attributable to ordinary shareholders of the listed company was 4.367 billion yuan, a year-on-year decrease of 15.18%. This was mainly due to the one-time pre-tax profit of 2.662 billion yuan from the disposal of assets in the third quarter of 2019, which significantly increased the net profit in 2019.

According to an announcement by ZTE, in 2020, in the face of the challenges of the COVID-19 pandemic and the external environment, the company insisted on focusing on its core business, based on technological innovation, attaching importance to operating quality, and actively promoting business expansion. The operating income of both the domestic and international markets achieved year-on-year growth, and the operating income of the three major businesses (operator network, consumer business, and government business) all achieved year-on-year growth. Among them, in the domestic market, the company seized the development opportunities of 5G and new infrastructure, and achieved a dual increase in market structure and share; in the international market, the company insisted on healthy operations, intensively cultivated the value market, and continuously improved profitability.

In 2020, the company's net profit attributable to ordinary shareholders of listed companies was RMB 4.367 billion, a year-on-year decrease of 15.18%, mainly due to the one-time pre-tax profit of RMB 2.662 billion from the disposal of assets in the third quarter of 2019, which significantly increased the net profit in 2019 (for details, please see the "Progress Announcement on Matters Related to the Signing of a Supplementary Agreement with Shenzhen Vanke Development Co., Ltd. regarding Shenzhen Bay Super Headquarters Base" issued by the Company on July 11, 2019).