Telecommunications network powerhouse ZTE vowed to strengthen its efforts in core industries and major markets amid lingering concerns over a US government probe, after reporting strong first-quarter earnings on Thursday.
In a filing with the Hong Kong stock exchange, chairman Zhao Xianming said the company will be “capitalising on opportunities” at its three focus areas of telecommunications carriers, the government and corporate sectors, and consumers.
He said ZTE was looking forward to the next reporting period when new innovation, such as “ultra-broadband”, are presented as part of “the age of M-ICT”, which is shorthand for the so-called mobile interconnection of all things.
ZTE, China’s largest listed telecommunications equipment manufacturer, posted a 15.97 per cent net profit growth in the first quarter to 949.51 million yuan (HK$1.13 billion), up from 818.72 million yuan in the same period last year.
“That growth was primarily attributable to the increase in operating revenue from 4G system products and optical transmission products in the domestic and international markets,” Zhao said.