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ZTE lifts revenues, profit in strong #H1

2020-08-28 15:32:00| Telecompaper Headlines

(Telecompaper) After a lower first quarter, ZTE reported a strong first half, with operating revenues lifting 5.8 percent from the year before to CNY 47.20 billion and the net profit increasing 26.3 percent to CNY 1.86 billion. The net profit after extraordinary items jumped 47.4 percent to CNY 0.9 billion. The operating cash flow grew over 61 percent to CNY 2.04 billion while spend on research and development (R&D) advanced to CNY 6.64 billion, driven by investments into 5G and covering 14.1 percent of the company's operating revenue.

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