Zte expects a year-on-year profit growth of 52.59% to 69.02% in 2021

January 28 afternoon news, ZTE announced that it is expected to profit 6.5 billion yuan – 7.2 billion yuan in 2021, a year-on-year growth of 52.59%-69.02%.According to the announcement, ZTE expects its 2021 annual performance to grow from the same period last year, mainly because of the double-digit year-on-year growth in operating revenue in 2021 and the year-on-year recovery and improvement of gross margin in 2021.The announcement also mentioned that ZTE’s asset impairment loss in 2021 is expected to be about 1.4 billion yuan, including about 1.1 billion yuan in the fourth quarter alone.Mainly due to the tight global chip supply, the company prepared materials for key materials in advance. Considering the relatively long material preparation and production cycle of the company, the company kept consistent with the previous policy and made provision for inventory price decline based on the principle of caution.

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