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MarketScreener Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  ZTE Corporation    000063   CNE000000TK5

ZTE CORPORATION

(000063)
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ZTE : ● 2020 THIRD QUARTERLY REPORT

10/28/2020 | 08:15am EST

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

ZTE CORPORATION

中 興 通 訊 股 份 有 限 公 司

(a joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 763)

2020 THIRD QUARTERLY REPORT

This announcement is published simultaneously in the Mainland in accordance with the Rules Governing Listing of Stocks on The Shenzhen Stock Exchange and in Hong Kong in accordance with the disclosure obligations under Rule 13.09(2) and Rule 13.10B of the Rules Governing the Listing of Securities on The Stock Exchange of Hong Kong Limited and the inside information provisions set out in Part XIVA of the Securities and Futures Ordinance (Chapter 571 of the Laws of Hong Kong).

§1 IMPORTANT

  1. The Board of Directors, Supervisory Committee and the Directors, Supervisors and senior management of ZTE Corporation ("ZTE" or the "Company") warrant that the contents of this quarterly report are true, accurate and complete without false information, misleading statements or material omissions, and collectively and individually accept responsibility therefor.
  2. There are no Directors, Supervisors and senior management who do not warrant or who dispute the truthfulness, accuracy and completeness of the contents of this quarterly report.
  3. This quarterly report has been considered and approved at the Twenty-sixth Meeting of the Eighth Session of the Board of Directors of the Company.
  4. The financial statements contained in this quarterly report are unaudited. The financial information contained in this quarterly report has been prepared in accordance with PRC Accounting Standards for Business Enterprises ("PRC ASBEs").

- 1 -

  1. Mr. Li Zixue, Chairman of the Company, Ms. Li Ying, Chief Financial Officer of the Company and Mr. Xu Jianrui, Head of Finance Division of the Company, hereby declare that they warrant the truthfulness, accuracy and completeness of the financial statements contained in this quarterly report.
  2. China Securities Journal, Securities Times, Shanghai Securities News and http://www.cninfo.com.cn are designated media for the Company's information disclosure. Investors are asked to be aware of the investment risks.

§2 CORPORATE INFORMATION

2.1 Major Accounting Data and Financial Indicators

2.1.1 Major Accounting Data and Financial Indicators of the Company and its subsidiaries (the "Group")

Change as at

the end of the

As at the end of the

As at the end of

reporting period

reporting period

last year

compared with the

Item

(30 September 2020)

(31 December 2019)

end of last year

Total assets

(RMB in thousands)

165,268,109

141,202,135

17.04%

Owners' equity

attributable to holders of

ordinary shares of the

listed company

(RMB in thousands)

41,905,884

28,826,868

45.37%

Total share capital

(thousand shares) Note 1

4,613,435

4,227,530

9.13%

Net assets per share

attributable to holders of

ordinary shares of the

listed company

(RMB/share)

9.08

6.82

33.14%

- 2 -

Three

Nine

months ended

Change compared

months ended

Change compared

30 September

with the same

30 September

with the same

Item

2020

period last year

2020

period last year

Operating revenue (RMB in thousands)

26,930,051

37.18%

74,129,424

15.39%

Net profit attributable to holders of

ordinary shares of the listed company

(RMB in thousands)

854,760

(67.83%)

2,712,049

(34.30%)

Net profit after extraordinary items

attributable to holders of ordinary

shares of the listed company

(RMB in thousands)

543,744

454.66%

1,445,859

103.59%

Net cash flows from operating activities

(RMB in thousands)

1,828,128

11.57%

3,868,898

33.17%

Net cash flows from operating activities

per share (RMB/share)

0.40

2.56%

0.84

21.74%

Basic earnings per share

(RMB/share) Note 2

0.19

(69.84%)

0.59

(39.80%)

Diluted earnings per share

(RMB/share) Note 3

0.19

(69.84%)

0.59

(39.80%)

Weighted average return on net assets (%)

Decreased by 7.76

Decreased by 8.68

2.34%

percentage points

7.62%

percentage points

Weighted average return on net assets after

Increased by 1.28

Increased by 1.26

extraordinary items (%)

1.50%

percentage points

4.06%

percentage points

Note 1: The total share capital of the Company had increased from 4,227,529,869 shares to 4,613,434,898 shares following the addition of 381,098,968 new shares as the result of the non-public issue of A shares and the exercise of 4,806,061 A share options by scheme participants under the 2017 Share Option Incentive Scheme during the nine months ended 30 September 2020;

Note 2: Basic earnings per share for the nine months ended 30 September 2020, three months ended 30 September 2020, nine months ended 30 September 2019 and three months ended 30 September 2019 have been calculated on the basis of the weighted average number of ordinary shares in issue as at the end of the respective periods;

Note 3: As the 2017 share options granted by the Company have given rise to 21,780,000 and 19,140,000 potentially dilutive ordinary shares for the nine months ended 30 September 2020 and nine months ended 30 September 2019, respectively, dilutive earnings per share for the nine months and three months ended 30 September 2020 and the same periods last year have been calculated on the basis of basic earnings per share taking into account the said factor.

- 3 -

Extraordinary item

Unit: RMB in thousands

Amount

Three

Nine

months ended

months ended

30 September

30 September

Extraordinary item

2020

2020

Non-operating income, other income and others

452,723

1,725,390

Gains/(Losses) from fair value change

42,335

(79,099)

Investment income

(75,832)

(18,481)

Less: Losses on disposal of non-current assets

10,218

36,836

Less: Other non-operating expenses

18,474

47,144

Less: Asset impairment loss

-

7,165

Less: Effect of income tax

58,580

230,500

Less: Effect of non-controlling interests (after taxation)

20,938

39,975

Total

311,016

1,266,190

2.1.2 The amounts of net profit and shareholders' equity of the Group for the nine months ended 30 September 2020 and as at 30 September 2020 calculated in accordance with PRC ASBEs are fully consistent with those calculated under Hong Kong Financial Reporting Standards.

- 4 -

This is an excerpt of the original content. To continue reading it, access the original document here.

Disclaimer

ZTE Corporation published this content on 28 October 2020 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 28 October 2020 13:14:01 UTC


© Publicnow 2020
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Sales 2020 101 B 15 339 M 15 339 M
Net income 2020 4 416 M 672 M 672 M
Net cash 2020 2 029 M 308 M 308 M
P/E ratio 2020 37,4x
Yield 2020 0,66%
Capitalization 147 B 22 304 M 22 309 M
EV / Sales 2020 1,43x
EV / Sales 2021 1,25x
Nbr of Employees 70 066
Free-Float 71,4%
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 39,68 CNY
Last Close Price 34,73 CNY
Spread / Highest target 42,5%
Spread / Average Target 14,3%
Spread / Lowest Target -23,7%
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Da Xiong Xie Chairman-Supervisory Board
Zi Xue Li Chairman
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