China's Datang Expects Net Profit Up 70% In H1 2009
Chinese telecom equipment maker Datang Telecom Technology Company has published a report stating that its net profit in the first half of 2009 is expected to reach CNY7.69 million, mainly attributed to sales growth of 3G terminal products.
The company's performance report revealed that according to the initial estimation of Datang's financial department, its net profit in the first six months of 2009 increased by over 70% compared with the same period of last year.
The report further pointed out that the significant net profit growth is the result of the company's industry adjustment and the gradual completion of its terminal distribution. Meanwhile, with the increase of China's 3G market demands, the sales of its data terminal products have grown rapidly and have become new profit points for the company. In addition, the company continues to optimize the industry structures of its application and service businesses, which enhances its profit capacity.
According to previous reports of the company, it made revenue of CNY2.706 billion in 2008, a year-on-year increase of 9.62%; and its net profit during the same period was CNY45.646 million, a year-on-year increase of 43.62%.
