ZTE profitable
By Zhu Shenshen |
March 18, 2011, Friday
|
Print Edition
Print Edition
ZTE Corp's net profit grew 32 percent last year on strong overseas income, China's biggest listed telecom equipment maker said yesterday.
ZTE plans to invest 16 billion yuan (US$2.42 billion) to build a research center in Nanjing, Jiangsu Province. It also plans to invest in foreign-exchange derivatives to hedge against risks from growing overseas revenue, ZTE said in a statement to the Shenzhen Stock Exchange.
ZTE's net profit was 3.25 billion yuan (US$492 million) in 2010, versus 2.46 billion yuan in 2009.
Revenue was 70.26 billion yuan in 2010, an annual 17 percent rise.
ZTE plans to invest 16 billion yuan (US$2.42 billion) to build a research center in Nanjing, Jiangsu Province. It also plans to invest in foreign-exchange derivatives to hedge against risks from growing overseas revenue, ZTE said in a statement to the Shenzhen Stock Exchange.
ZTE's net profit was 3.25 billion yuan (US$492 million) in 2010, versus 2.46 billion yuan in 2009.
Revenue was 70.26 billion yuan in 2010, an annual 17 percent rise.
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