ZTE Corp nets RMB 1.331 bln contracts with China Telecom

Nov. 19, 2008 (China Knowledge) - ZTE Corp<000063><763>, China's largest listed telecoms manufacturer, announced on Monday it has clinched deals with China Telecom<728><CHA> for CDMA equipment, technical documents and services. 

The deals, representing over 15% of the total amount of China Telecom's first round of CDMA network equipment and terminals tender, consist of a wireless equipment contract worth RMB 1.27 billion, and an operation network contract worth RMB 61 million. 

ZET also said it was talking with China Telecom on a core network and ancillary equipment contract.

The Shenzhen-based company posted a net profit in the third quarter this year of RMB 258.3 million, a significant increment of 81% from RMB 143 million a year earlier. Sales revenue surged 29.3% to RMB 10.6 billion, according to its quarterly financial report released yesterday.

In the morning trading session on Tuesday, H-shares of ZTE advanced 3.17% to open at HK$13.02, with the benchmark, Hang Seng index opening slightly lower at 12,827 points.