Reuters: Global Markets: HK shares of ZTE fall 5 percent after profit warnings

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HK shares of ZTE fall 5 percent after profit warnings Jan 21st 2013, 01:27 Tweet Share this Email Print Related News ZTE warns of 2012 net loss of up to 2.9 billion yuan 7:53am EST CORRECTED-Hong Kong shares hit 19-1/2 mth high, China gains after GDP data Fri, Jan 18 2013 Hong Kong shares creep to new 19-1/2-mth high, China rebounds Thu, Jan 17 2013 Hong Kong shares seen steady ahead of China data Thu, Jan 17 2013 Hong Kong leader fights uphill battle in maiden policy speech Wed, Jan 16 2013 Analysis & Opinion Essential reading: Greek tax probe launched, and more Shifting trade winds catch Li & Fung off-guard Related Topics Hot Stocks » Asian Markets » A ZTE logo is pictured at the Mobile Asia Congress in Hong Kong November 17, 2011. Credit: Reuters/Tyrone Siu HONG KONG | Sun Jan 20, 2013 8:27pm EST HONG KONG (Reuters) - The Hong Kong-listed shares of ZTE Corp (0763.HK) fell 5 percent on Monday after China's second-largest telecom equipment maker warned of a net loss for 2012 due to project delays and the non-renewal of contracts. The stock was set to open lower at HK$14.02, the lowest since Jan 8 and lagging a 0.15 percent fall in the benchmark Hang Seng Index .HSI ZTE (000063.SZ) warned on Sunday of a net loss of up to 2.9 billion yuan ($466.58 million) for 2012 but said it expected to return to profitability in the first quarter of 2013 due in part to its sale of Shenzhen ZTE NetView Technology Co., Ltd., which generated investment income of up to 880 million yuan. (Reporting by Donny Kwok; Editing by Anne Marie Roantree) Related Quotes and News Company Price Related News Tweet this Link this Share this Digg this Email Reprints Comments (0) This discussion is now closed. We welcome comments on our articles for a limited period after their publication.

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