Monday, January 20, 2014

ZTE Sees Profits in 2013 Thanks to Cost Controls

ZTE issued new financial guidance saying it now expects full-year net profit attributable to shareholders will be between RMB 1.2 billion and RMB 1.5 billion, thanks to stringent control in expenses and tighter scrutiny of business that offer lower margins. The company also cited better management of cash flow and account receivables, resulting in a large increase in operating cash flow. Sales, administrative and research and development expenses were reduced from a year earlier. The full 2013 financial report has not yet been released.

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