ZTE international income rising first half of the overall decline in profits

Local time on Tuesday, Chinese the second largest telecoms equipment manufacturer ZTE said, expected in the first half of this year the company's profits will decline.

In the first half of June 30th, according to preliminary calculations, we expect our profits to decline over the same period last year, according to a statement released on Tuesday."

ZTE did not provide further details of the decline in profits, in the first half of last year, ZTE's earnings show that in the first six months of last year, ZTE's profit was RMB 660 million 400 thousand yuan. Sales revenue of 10 billion 300 million yuan. ZTE said revenue from international operations in the first half of this year is expected to grow 35% to $50% in the first half of last year. However, the company said that for this year's international business revenue growth, there is no precise expectations.

ZTE added that in June 30th last year before the company's international business income is 3 billion 150 million yuan, in April this year, ZTE said that due to the adjustment of the capital expenditures, the first quarter of this year's profits fell more than 85%.

Shares in the Hongkong stock market fell 3.75% to HK $24.35 per share on Tuesday.