In the evening of January 20th, ZTE Corporation released the 2012 annual performance forecast today. Due to several factors such as the low gross profit contract concentration confirmation, the delay in the progress of some international projects, and the decline in terminal revenue, ZTE expects that the net profit for 2012 will fall by 221.35% -240.77% year-on-year, with a loss of 2.5 billion to 2.9 billion yuan.
According to ZTE, the operating income in the fourth quarter of 2012 decreased by about 18% compared with the same period of the previous year, which was mainly due to the delay in the contract signing of some domestic systems, the decline in terminal revenue, and the delay in the progress of some international project projects; the overall effect in the fourth quarter of 2012 The gross profit margin decreased by approximately 11 percentage points from the same period of the previous year, mainly because Africa, South America, Asia and domestic more low gross margin contracts were confirmed in this reporting period.
ZTE expects full-year 2012 revenue to decline slightly from the previous year. The overall gross profit margin decreased by approximately 7 percentage points from the previous year, resulting in a net profit decline of 221.35% -240.77% year-on-year. The signing of system contracts and the delay in the progress of some international projects and the decline in terminal revenue have led ZTE to expect a loss of 2.5-2.9 billion yuan for the whole year.
In the past few years, ZTE has implemented the strategy of "big country and big T", and has achieved a large-scale layout in the market and products of mainstream operators. For example, more than 100 LTE commercial and trial networks have been deployed around the world, and the market share of smart terminals has risen from ninth to fourth place in 2011. The market has shifted from developing countries to the United States, China, and Japan. , Mainly in Europe. However, in this process, ZTE "has failed to quickly adapt to the challenges of macroeconomic and industrial changes, and there is room for improvement in internal management."
On January 14, ZTE adjusted management based on performance. Xie Daxiong, who was in charge of research and development, no longer served as the company's executive vice president, and Ni Qin, Wu Zengqi, and Wang Jiaran no longer served as senior vice presidents. ZTE stated that Adhering to the principle of all tightness, reducing management losses.
In 2013, ZTE stated that it would focus on mainstream customers and products, and be inclined to the strategy and mainstream in terms of resource input guarantee; cancel the system and regional level, and form a three-tier structure of the company headquarters-business department-representative office; strengthen the cadre team Cultural training and performance accountability.
ZTE is expected to achieve profitability in the first quarter of 2013. Prior to this, ZTE sold its subsidiary, ZTE Liwei, and obtained an investment income of approximately 820 million to 880 million yuan, which will be included in the first quarter of 2013 financial statements according to relevant accounting and financial standards.
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