Shares of Chinese telecommunications equipment maker ZTE Corp were set to surge more than 30 percent in early Tuesday trade after the board approved an A-share buyback plan estimated at no more than 1 billion yuan ($161 million).

Shenzhen-based ZTE posted a 42 percent rise in quarterly net profit in April as strong global demand for 4G infrastructure boosted sales.


(Reporting By Yimou Lee; Editing by Anne Marie Roantree)

This entry passed through the Full-Text RSS service – if this is your content and you’re reading it on someone else’s site, please read the FAQ at fivefilters.org/content-only/faq.php#publishers.

Related Posts

Facebook Comments

Return to Top ▲Return to Top ▲