Balance Sheet ZTE Corporation

Equities

000063

CNE000000TK5

Communications & Networking

End-of-day quote Shenzhen S.E. Other stock markets 13/09/2024			5-day change	1st Jan Change
23.54 ^CNY	-0.76%		-2.28%	-11.10%

10/09	ZTE Subscribes for Nine Wealth Management Products Worth 6.10 Billion Yuan	MT
05/09	ZTE Corporation and Orange Liberia Team Up to Complete Rural Network Deployment in Liberia	CI

3f0dc6fe63e5bc156c.kY_Q7y9xwNB1mWPoOhqvKWVbR0DZqOFGhUp6CSPOmN8.5va0h305sJY291abYGzJU0gVIxj04NEB5wU2ZVa294f01qaWHUGToTHxVw

Published financial data: ZTE CORPORATION

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2019	2020	2021	2022	2023
Revenues	88.98B	98.92B	111B	120B	121B
Other Revenues, Total	1.76B	2.53B	3.21B	3.35B	3.66B
Total Revenues	90.74B	101B	115B	123B	124B
Cost of Goods Sold, Total	58.27B	69.49B	74.98B	78.02B	73.45B
Gross Profit	32.47B	31.96B	39.54B	44.93B	50.8B
Selling General & Admin Expenses, Total	12.64B	12.57B	14.18B	14.51B	15.8B
Provision for Bad Debts	2.11B	257M	306M	219M	99.79M
R&D Expenses	12.55B	14.8B	18.8B	21.6B	25.29B
Other Operating Expenses	931M	685M	787M	414M	-470M
Other Operating Expenses, Total	28.23B	28.31B	34.08B	36.74B	40.72B
Operating Income	4.24B	3.65B	5.47B	8.19B	10.08B
Interest Expense, Total	-1.72B	-1.5B	-1.48B	-1.95B	-3.14B
Interest And Investment Income	1.18B	2.15B	3.06B	3.53B	4.08B
Net Interest Expenses	-537M	649M	1.58B	1.58B	943M
Currency Exchange Gains (Loss)	16.74M	17.46M	-848M	-481M	384M
Other Non Operating Income (Expenses)	-318M	-427M	-178M	-293M	-172M
EBT, Excl. Unusual Items	3.4B	3.89B	6.02B	9B	11.23B
Impairment of Goodwill	-	-	-186M	-	-
Gain (Loss) On Sale Of Investments	-234M	31.29M	1.08B	-1.16B	-942M
Gain (Loss) On Sale Of Assets	2.69B	-	232M	11.03M	20.6M
Asset Writedown	-	-19.25M	-417M	-410M	-50.63M
Other Unusual Items	1.31B	1.17B	1.76B	1.31B	-55.24M
EBT, Incl. Unusual Items	7.16B	5.06B	8.5B	8.75B	10.2B
Income Tax Expense	1.39B	342M	1.46B	960M	962M
Earnings From Continuing Operations	5.78B	4.72B	7.04B	7.79B	9.24B
Net Income to Company	5.78B	4.72B	7.04B	7.79B	9.24B
Minority Interest	-280M	-446M	-223M	289M	84.9M
Net Income - (IS)	5.5B	4.28B	6.81B	8.08B	9.33B
Preferred Dividend and Other Adjustments	349M	16.24M	-	-	-
Net Income to Common Incl Extra Items	5.15B	4.26B	6.81B	8.08B	9.33B
Net Income to Common Excl. Extra Items	5.15B	4.26B	6.81B	8.08B	9.33B
Per Share Items
Net EPS - Basic	1.22	0.92	1.47	1.71	1.96
Basic EPS - Continuing Operations	1.22	0.92	1.47	1.71	1.96
Basic Weighted Average Shares Outstanding	4.21B	4.61B	4.64B	4.74B	4.76B
Net EPS - Diluted	1.22	0.92	1.47	1.71	1.96
Diluted EPS - Continuing Operations	1.22	0.92	1.47	1.71	1.96
Diluted Weighted Average Shares Outstanding	4.22B	4.63B	4.64B	4.74B	4.76B
Normalized Basic EPS	0.44	0.43	0.76	1.25	1.49
Normalized Diluted EPS	0.44	0.43	0.76	1.25	1.49
Dividend Per Share	0.2	0.2	0.3	0.4	0.68
Payout Ratio	39.29	62.95	33.84	38.77	46.25
American Depositary Receipts Ratio (ADR)	2	2	2	2	2
Supplemental Items
EBITDA	5.77B	5.36B	7.54B	10.19B	12.24B
EBITA	4.5B	3.9B	5.87B	8.52B	10.21B
EBIT	4.24B	3.65B	5.47B	8.19B	10.08B
EBITDAR	6.19B	5.67B	7.79B	10.43B	12.5B
Effective Tax Rate - (Ratio)	19.34	6.76	17.21	10.97	9.43
Total Current Taxes	1.09B	1.18B	1.2B	1.56B	1.4B
Total Deferred Taxes	293M	-835M	267M	-600M	-442M
Normalized Net Income	1.85B	1.98B	3.54B	5.91B	7.1B
Interest on Long-Term Debt	81.26M	72.54M	48.22M	60.43M	68.15M
Non-Cash Pension Expense	4.34M	4.6M	4.61M	3.99M	3.9M
Supplemental Operating Expense Items
Advertising Expense	878M	778M	1.22B	1.31B	1.71B
Selling and Marketing Expenses	7.66B	7.58B	8.73B	9.17B	10.17B
General and Administrative Expenses	4.72B	4.95B	5.43B	5.31B	5.63B
Research And Development Expense From Footnotes	12.55B	14.8B	18.8B	21.6B	25.29B
Net Rental Expense, Total	424M	306M	247M	233M	265M
Imputed Operating Lease Interest Expense	174M	97.56M	75.53M	82.75M	127M
Imputed Operating Lease Depreciation	249M	208M	171M	150M	138M
Stock-Based Comp., G&A Exp. (Total)	-	-	871M	-	-
Stock-Based Comp., Other (Total)	192M	236M	-	473M	166M
Total Stock-Based Compensation	192M	236M	871M	473M	166M

Fiscal Period: December	2019	2020	2021	2022	2023
Assets
Cash And Equivalents	33.31B	35.66B	50.71B	56.35B	78.54B
Trading Asset Securities, Total	561M	1.04B	1.36B	514M	153M
Total Cash And Short Term Investments	33.87B	36.7B	52.07B	56.86B	78.7B
Accounts Receivable, Total	32.06B	26.99B	29.49B	26.4B	29.74B
Other Receivables	830M	856M	1.27B	1.27B	1.15B
Notes Receivable	193M	296M	87.08M	74.83M	-
Total Receivables	33.08B	28.14B	30.85B	27.74B	30.89B
Inventory	27.69B	33.69B	36.32B	45.23B	41.13B
Prepaid Expenses	7.36B	8.02B	-	7.46B	7.33B
Other Current Assets, Total	570M	426M	8.63B	573M	460M
Total Current Assets	103B	107B	128B	138B	159B
Gross Property Plant And Equipment	19.52B	22.69B	22.8B	24.7B	27.2B
Accumulated Depreciation	-7.9B	-8.69B	-9.17B	-9.74B	-11.29B
Net Property Plant And Equipment	11.62B	14B	13.63B	14.96B	15.92B
Long-term Investments	3.92B	3.25B	2.86B	2.78B	2.99B
Goodwill	186M	186M	-	-	-
Other Intangibles, Total	3.25B	4.45B	3.64B	3.09B	2.76B
Accounts Receivable Long-Term	3.02B	3.03B	2.6B	2.75B	2.02B
Deferred Tax Assets Long-Term	2.51B	3.44B	3.19B	3.72B	4.15B
Deferred Charges Long-Term	6.35B	6.99B	6.91B	6.84B	6.24B
Other Long-Term Assets, Total	7.78B	8.32B	8.06B	8.95B	8.38B
Total Assets	141B	151B	169B	181B	201B
Liabilities
Accounts Payable, Total	27.73B	28.52B	33.27B	29.7B	28.37B
Accrued Expenses, Total	10.26B	11.67B	13.38B	14.92B	18.02B
Short-term Borrowings	26.65B	10.56B	8.95B	9.96B	12.57B
Current Portion of Long-Term Debt	402M	1.85B	790M	355M	1.68B
Current Portion of Leases	520M	453M	389M	392M	523M
Current Income Taxes Payable	399M	445M	361M	595M	637M
Unearned Revenue Current, Total	14.57B	15.63B	16.15B	17.75B	14.96B
Other Current Liabilities	5.85B	5.26B	5.39B	4.74B	6.26B
Total Current Liabilities	86.37B	74.39B	78.69B	78.42B	83.03B
Long-Term Debt	10.25B	22.97B	30.16B	35.32B	42.59B
Long-Term Leases	645M	718M	532M	789M	960M
Unearned Revenue Non Current	3.51B	2.46B	2.1B	2.54B	2.32B
Pension & Other Post Retirement Benefits	145M	144M	148M	145M	142M
Deferred Tax Liability Non Current	172M	134M	150M	87.14M	77.86M
Other Non Current Liabilities	2.16B	3.69B	3.71B	4.1B	3.5B
Total Liabilities	103B	105B	115B	121B	133B
Common Stock, Total	4.23B	4.61B	4.73B	4.74B	4.78B
Additional Paid In Capital	12.14B	23.28B	25.36B	25.89B	27.6B
Retained Earnings	14.46B	17.79B	23.68B	30.34B	37.77B
Treasury Stock	-	-115M	-	-	-
Comprehensive Income and Other	4.25B	-2.27B	-2.29B	-2.33B	-2.15B
Total Common Equity	35.08B	43.3B	51.48B	58.64B	68.01B
Minority Interest	2.88B	2.83B	1.81B	902M	323M
Total Equity	37.95B	46.12B	53.29B	59.54B	68.33B
Total Liabilities And Equity	141B	151B	169B	181B	201B
Supplemental Items
ECS Total Shares Outstanding on Filing Date	4.61B	4.61B	4.73B	4.74B	4.78B
ECS Total Common Shares Outstanding	4.23B	4.61B	4.73B	4.74B	4.78B
Book Value / Share	6.82	9.39	10.88	12.38	14.22
Tangible Book Value	31.64B	38.66B	47.85B	55.55B	65.25B
Tangible Book Value Per Share	6.01	8.39	10.11	11.73	13.64
Total Debt	38.46B	36.55B	40.82B	46.82B	58.32B
Net Debt	4.59B	-145M	-11.26B	-10.04B	-20.37B
Debt Equivalent of Unfunded Proj. Benefit Obligation	145M	144M	148M	145M	142M
Debt Equivalent Oper. Leases	3.39B	2.45B	1.97B	1.86B	2.12B
Minority Interest, Total (Incl. Fin. Div)	2.88B	2.83B	1.81B	902M	323M
Equity Method Investments, Total	2.33B	1.71B	1.68B	1.75B	2.16B
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	6.09B	13.63B	17.49B	27.89B	29.06B
Inventories - Work In Process, Total	10.16B	9.56B	9.07B	7.55B	7.4B
Inventories - Finished Goods, Total	15.7B	14.8B	14.71B	14.45B	9.7B
Inventories - Others	-	-	-	-	-
Land - (BS)	40.44M	29.29M	26.67M	31.12M	34.22M
Buildings, Total	7.36B	9.56B	9.12B	10.47B	11.56B
Machinery, Total	9.32B	10.17B	10.75B	11.62B	12.2B
Full Time Employees	70.07K	73.71K	72.58K	74.81K	72.09K
Accumulated Allowance for Doubtful Accounts (Supple)	13.1B	9.55B	7.45B	7.07B	6.96B

Fiscal Period: December	2019	2020	2021	2022	2023
Net Income	5.5B	4.28B	6.81B	8.08B	9.33B
Depreciation & Amortization - CF	1.79B	1.87B	2.08B	2B	2.38B
Amortization of Goodwill and Intangible Assets - (CF)	264M	252M	405M	327M	140M
Depreciation & Amortization, Total	2.06B	2.12B	2.48B	2.33B	2.52B
Amortization of Deferred Charges, Total - (CF)	1.53B	1.85B	2.11B	2.06B	2.41B
(Gain) Loss From Sale Of Asset	-2.69B	-	-232M	-11.03M	-20.6M
(Gain) Loss on Sale of Investments - (CF)	-170M	-130M	-786M	906M	487M
Asset Writedown & Restructuring Costs	-7.24M	17.5M	605M	415M	262M
Provision for Credit Losses	-2.43M	-497K	1.89M	-925K	174K
Stock-Based Compensation (CF)	192M	236M	871M	473M	166M
Provision and Write-off of Bad Debts	2.11B	384M	295M	233M	-39.55M
Other Operating Activities, Total	3.39B	1.81B	566M	1.9B	3.45B
Change In Accounts Receivable	-2.9B	3.92B	-2.58B	2.68B	-2.41B
Change In Inventories	-3.86B	-5.95B	-3.45B	-9.71B	3.29B
Change In Accounts Payable	2.29B	1.03B	8.38B	-1.44B	-1.2B
Change In Deferred Taxes	293M	-963M	258M	-587M	-437M
Change in Other Net Operating Assets	-287M	1.64B	386M	254M	-391M
Cash from Operations	7.45B	10.23B	15.72B	7.58B	17.41B
Capital Expenditure	-6.55B	-6.47B	-5.69B	-4.95B	-4B
Sale of Property, Plant, and Equipment	1.88B	9.4M	221M	24.17M	104M
Cash Acquisitions	-	-258M	-	-	-
Divestitures	448M	252M	1.19B	89.82M	38.49M
Investment in Marketable and Equity Securities, Total	121M	-854M	-6.79B	2.44B	-18.33B
Other Investing Activities, Total	-1.92B	240M	466M	1.11B	1.29B
Cash from Investing	-6.02B	-7.08B	-10.59B	-1.29B	-20.9B
Long-Term Debt Issued, Total	45.32B	48.16B	66.86B	149B	275B
Total Debt Issued	45.32B	48.16B	66.86B	149B	275B
Long-Term Debt Repaid, Total	-36.3B	-49.95B	-62B	-144B	-264B
Total Debt Repaid	-36.3B	-49.95B	-62B	-144B	-264B
Issuance of Common Stock	586M	11.55B	518M	110M	1.64B
Repurchase of Common Stock	-	-6.11B	-	-	-
Common Dividends Paid	-2.16B	-2.69B	-2.31B	-3.13B	-4.31B
Common & Preferred Stock Dividends Paid	-2.16B	-2.69B	-2.31B	-3.13B	-4.31B
Other Financing Activities, Total	-1.72B	-1.25B	-293M	-501M	-494M
Cash from Financing	5.72B	-290M	2.78B	1.45B	7.37B
Foreign Exchange Rate Adjustments	227M	36.62M	-242M	260M	65.5M
Net Change in Cash	7.37B	2.9B	7.67B	8B	3.94B
Supplemental Items
Cash Income Tax Paid (Refund)	3.41B	2.61B	2.11B	1.48B	3.3B
Levered Free Cash Flow	-6.55B	223M	3.78B	-2.25B	7.17B
Unlevered Free Cash Flow	-5.48B	1.16B	4.7B	-1.03B	9.13B
Change In Net Working Capital	5.35B	-1.14B	-1.51B	6.06B	-1.74B
Net Debt Issued / Repaid	9.02B	-1.78B	4.86B	4.98B	10.53B

Fiscal Period: December	2019	2020	2021	2022	2023
Profitability
Return on Assets	1.96	1.56	2.14	2.93	3.3
Return on Total Capital	3.85	2.86	3.87	5.11	5.4
Return On Equity %	16.29	11.23	14.16	13.81	14.45
Return on Common Equity	16.03	10.87	14.38	14.67	14.73
Margin Analysis
Gross Profit Margin %	35.78	31.5	34.53	36.55	40.88
SG&A Margin	13.93	12.39	12.38	11.8	12.72
EBITDA Margin %