China's telecom equipment maker ZTE sees profit surge in Q1

SHENZHEN - Chinese telecom equipment maker ZTE said Wednesday night that it made net profits of 2.18 billion yuan ($336 million) in the first quarter of 2021, surging 179.7 percent year-on-year.

In the latest quarterly report filed with the Shenzhen Stock Exchange, ZTE said its revenue totaled 26.24 billion yuan during the January-March period, up 22.1 percent year-on-year.