ZTE Corporation a leading global provider of telecommunications equipment and network solutions, announced its annual results for the year ended 31 December 2010.

Based on HKFRS and PRC ASBEs, ZTE recorded revenue of RMB 70.264 billion (USD 10.609billion) in 2010, representing an increase of 21% (in USD rate) against 2009. Net profit was RMB 3.250 billion (USD 490.74million), representing an increase of 32.22% compared with 2009. Basic earnings per share were RMB RMB1.17 (USD 0.177).

The Board of Directors recommended payment of a final dividend for the year ended 2010: A bonus issue of two shares for every 10 shares held and a cash dividend of RMB3 (USD 0.45) (before tax) for every 10 shares.

During the year, the Group’s revenue from domestic operations amounted to RMB 32.198 billion (USD 4.861 billion), representing year-on-year growth of 5.90%

The Group’s revenue from its international operations grew 27.45% to RMB38.066 billion (USD 5.747 billion) and accounted for 54.18% of total operating revenue.

ZTE Chairman ou Weigui, said: “In the coming year, the Group will proactively respond to the dynamic requirements of customers and strengthen strategic cooperation in response to the profound changes in the global telecommunications market. Other areas of focus will also include the recruitment and development of high-caliber staff, product differentiation as well as cost-effectiveness and quality of ZTE’s solutions. We aim to achieve an excellent performance to benefit society and our shareholders.”

In 2010, ZTE made substantial achievements in innovation, delivery ability and market expansion.In 2011, the company will continue to increase its presence and share in both domestic and international markets by deepening relations with mainstream carriers, and by moving from strategic engagement to strategic cooperation. ZTE will also strengthen its development capabilities to move into emerging technologies such as cloud computing and Integrated Circuit.