ZTE net profits rise 21.8 pct in 2015

Major Chinese telecom equipment maker ZTE Corp. on Thursday said its net profits in 2015 rose 21.8 percent to 3.2 billion yuan (495 million U.S. dollars).

In a filing to the Shenzhen Stock Exchange, ZTE said that its revenues jumped 23 percent year on year to reach 100.2 billion yuan last year.

The growth came from rising demand for its 4G systems, high-end routers, handsets, smart city and data services, said the Shenzhen-based company.

The overseas market accounted for 47.1 billion yuan, or 47 percent, of total revenues, it said.

Its smartphone sales rose 16 percent to 56 million units, with overseas shipments accounting for over 70 percent.

Last year, ZTE invested 12.2 billion yuan into research and development, up 35.4 percent year on year.

ZTE shares rose 1.06 percent to close at 15.22 yuan on Thursday, when China's benchmark Shanghai Composite Index fell 1.38 percent to close at 3,008.42 points.