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China Telecom equipment maker ZTE (000063. SZ) (0763. HK) announced on Monday night that its net profit in the third quarter of this year was 2.66 billion yuan, a year-on-year increase of more than 370%, with a per share income of 0.98 yuan. However, the net profit after deducting non recurring profit and loss is only 98 million yuan, down 18.6% year on year. The company also expects to turn losses into profits throughout the year, and the net profit of common shareholders of listed companies will be 4.3-5.3 billion yuan, up 162% - 176% year on year.
At the same time, the company issued the 2019 annual performance forecast, which pointed out that the performance in 2019 increased significantly compared with the same period of last year, mainly due to the loss in the same period of last year. In addition, in the third quarter of 2019, the company confirmed that it was related to the income related to the supplementary agreement signed by Shenzhen Bay super headquarters base and Shenzhen Vanke Development Co., Ltd.
According to the announcement, in February 2019, the United States Court of Appeals for the Federal Circuit upheld the judgment of California federal district court that the company and ZTE did not infringe the patent in question. On April 26, the U.S. Court of Appeals for the Federal Circuit rejected the company's request for a court wide retrial by all the members of the court. On September 6, the company appealed the case to the Supreme Court of the United States. At present, the U.S. Supreme Court has not accepted the appeal.


please contact sales@tanchin.hk for any inquiry
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