ZTE's net profit attributable to common shareholders for the fiscal year of 2020 decreased by 15.18% on a year-on-year basis to RMB 4.367 billion ($674 million), ZTE said in earnings released today.
The decline was mainly due to a one-time pre-tax gain of RMB 2.662 billion from asset disposals in the third quarter of 2019, resulting in a higher base of net profit in the fiscal year of 2019.
ZTE's annual revenue in 2020 was RMB 101.379 billion, a year-on-year increase of 11.73%.
ZTE's owner's equity attributable to common shareholders in 2020 was RMB 43.163 billion, a year-on-year increase of 49.73%, and net assets per share attributable to common shareholders was RMB 9.36 per share, a year-on-year increase of 37.24%.
In the fourth quarter of 2020, ZTE's net profit attributable to ordinary shareholders of the listed company was RMB1,655 million, a year-on-year increase of 62.21%.