ZTE primed to bounce back after 2.9b yuan loss

ZTE, China's second-largest telecommunications equipment maker, said yesterday it might return to profit this quarter after warning of a net loss of up to 2.9 billion yuan (HK$3.58 billion) for last year.

"It is anticipated that the company will make a profit in the first quarter of 2013," ZTE said in a filing to the Hong Kong stock exchange late last night. It added that the disposal of shares in another company, Shenzhen ZNV Technology, could generate an investment income of up to 880 million yuan.

via Business feed http://www.scmp.com/business/companies/article/1132559/zte-primed-bounce-back-after-29b-yuan-loss