On October 27, ZTE rose 4.35% in regular trading, trading at HK$20.32, with turnover of HK$45.61 million.

The move followed the company’s latest third-quarter results, which showed quarterly operating revenue of RMB38.813 billion, up 33.99% year over year, and net profit attributable to shareholders of RMB1.307 billion, up 394.46%. Quarterly non-recurring-adjusted net profit was RMB593 million, up 363.65%, indicating a marked improvement in single-quarter earnings.

For the first nine months, however, revenue was RMB116.838 billion, up 16.23%, while attributable net profit fell 23.71% to RMB4.06 billion, adjusted net profit fell 27.46% to RMB2.814 billion, and operating cash flow dropped 59.78% to RMB715 million, showing that the latest rally was tied primarily to the sharp quarter-on-quarter earnings recovery rather than the year-to-date trend.

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