ZTE ZTE CORPORATION
2 3 4 7 10 12 28 32 35 83 84 108 1
A H 771 2
3G 144 Kbps 384 Kbps 2 Mbps 64 KbpsITU IMT-2000 3GPP 3GPP2 3G CDMA 2G (PN) CDMA2000 CDMAOne 2 Mbps 1xRTT 1xEVDO 1xEVDV GSM 170 TDMA IP RFC 791 NGN PHS 1900 MHz PSTN IP TD-SCDMA 3G WCDMA CDMA 3G UMTS CDMA 3Mbps 3
1 ZTE CORPORATION ZTE 2 A 000063 H 763 3. 518057 11 8 fengjianxiong@zte.com.cn http://www.zte.com.cn 4. 5. (86 755) 26770282 (86 755) 26770286 fengjianxiong@zte.com.cn 6. 7. http://www.cninfo.com.cn http://www.hkex.com.hk 4
1 2005630 20041231 17,054,103 18,556,046 8,588,772 9,958,288 19,608,882 20,849,989 9,615,880 9,174,439 10.02 9.56 10.00 9.49 200516 200416 687,663 513,182 675,321 506,557 % 7.15% 10.07% 0.72 0.64 (2,587,873) 113,661 6,000 11,683 (5,111 ) (230 ) 12,342 5
2 200516 200416 0.69 0.90 6.86% 14.13% 2005630 20041231 10.04 11.37 3 687,663 660,359 9,615,880 9,631,289 6 101
1 27,498A 26,673 H 825 2 1 0 423,221,760 44.11% 2 17,231,914 159,205,040 16.60% 3 0 21,565,440 2.25% 4 Deutsche Bank Aktiengesellschaft -839,775 18,394,587 1.92% (QFII) 5 0 13,478,400 1.40% 6-204,087 8,224,698 0.86% 7 1,992,235 7,992,235 0.83% 8-17,500 7,341,600 0.77% 9 328,311 6,984,962 0.73% 10 0 6,508,435 0.68% 0 6,508,435 0.68% 0 6,508,435 0.68% 0 6,508,435 0.68% 0 6,508,435 0.68% 0 6,508,435 0.68% 7
* 1 159,205,040 H 2 Deutsche Bank Aktiengesellschaft 18,394,587 A 3 8,224,698 A 4 7,992,235 A 5 7,341,600 A 6 6,984,962 A 7 Citigroup Global Markets Limited 5,829,004 A 8 5,264,427 A 9 4,986,483 A 10 4,911,895 A H 3 8
4 571 336 5% * 423,221,760 (L) 44.11% 52.94% 423,221,760 (L) 44.11% 52.94% 423,221,760 (L) 44.11% 52.94% 423,221,760 (L) 44.11% 52.94% 423,221,760 (L) 44.11% 52.94% Alliance Capital Management L.P. 19,456,000 H(L) 2.03% 12.15% J.P. Morgan Chase & Co. 14,461,100 H(L) 1.51% 9.03% 14,237,300 H(P) 1.48% 8.89% Fidelity International Limited 12,619,400 H(L) 1.32% 7.88% Goldman Sachs (Asia) LLC 11,622,000 H(L) 1.21% 7.26% Goldman Sachs (Cayman) Holding Company 11,622,000 H(L) 1.21% 7.26% Temasek Holdings (Private) Limited 11,326,800 H(L) 1.18% 7.07% Aranda Investments (Mauritius) Pte Ltd 11,141,800 H(L) 1.16% 6.96% Massachusetts Financial Services CompanyMFS 8,428,100 H(L) 0.88% 5.26% Sun Life Financial, Inc. 8,428,100 H(L) 0.88% 5.26% (L) (S) (P) 336 9
A 1 175,680 2 97,344 3 76,608 4 72,806 5 97,344 6 8,016 7 76,608 8 35,871 9 76,608 10 33,108 11 75,600 12 49,405 13 19,440 14 7,920 15 27,043 16 63,072 1 16 14 10
2 7 5 3 10 XV 352 18 11
37 84 2005 3G 3G CDMA PHS GSM 20051 6 778.1 12.2% 2005 2005 2005 103.03 1.22% 6.60 8.80% 0.69-2.69 2005 103.03 12.5% 6.88 34.0% 0.72-2.70 12
3G WCDMACDMA2000TD-SCDMA 3G 3G WCDMA CDMA2000 1X EVDO TD-SCDMA CDMA CDMA CDMA GSM 2005 PHS PHS NGN NGN NGN 2005 13
3G 1 10,302,998 11,774,259-12.50% 3,843,072 4,303,111-10.69% 687,663 513,182 34.00% (2,587,873) 113,661-2,376.83% (3,800,867) 117,938-3,322.77% (1) 2004 200416 153,858 2004 (2) H (3) 14
2 2005630 20041231 19,608,882 20,849,989-5.95% 4,155,622 3,652,506 13.77% 1,970,962 1,882,808 4.68% 9,615,880 9,174,439 4.81% 3 10,302,998 6,423,483 37.65% -12.50% -13.65% 0.83% 10,302,998 6,423,483 37.65% -12.50% -13.65% 0.83% 31,760 20,263 36.20% -24.04% -19.50% -3.60% * * * 4 7,155,786-26.26% 2,421,335 1,991,468 34.00% 799,635 1,040,859 81.54% 570,203 114,885 1,010.08% 51,899 10,302,998-12.50% 3,843,072 15
5 10% 4,698,010 2,437,473 48.12% 1,491,294 979,503 34.32% 2,214,613 1,980,083 10.59% 6 CDMA PHS PHS CDMA CDMA PHS 7 H H160,151,040 H 22.0 3,523,322,880.00 3,734,722,252.80 3,542,177,725.94 (2005) (003) 2,125,306,635.56 1,416,871,090.38 16
354,217.8 106,318.5 222,350.4 IP 24,039.0 7,296.1 22,525.0 4,558.0 23,820.0 3,657.1 12,890.1 4,548.8 20,838.0 3,719.8 NGN 20,118.0 5,745.1 17,457.0 3,366.6 141,687.1 32,891.5 212,530.7 73,427.0 354,217.8 106,318.5 IP 6 TD- SCDMA IP 17
IP NGN 3G CDMA2000 1xEVDO CDMA2000 1x CDMA2000 1xEVDO 3G CDMA2000 1xEVDO CDMA2000 1xEVDO CDMA2000 1xEVDO ADSL PHS GSMCDMA 3G ZXR10 640G 10G IPv6 IPv6 IPV4/IPV6 ZXR10 NGN NGN 汇 叠 18
8 4,698.0 45.6% 4,497.5 44.2% 720.6 7.0% 1,305.5 12.8% 1,491.3 14.5% 1,150.5 11.3% 2,214.6 21.5% 2,603.7 25.6% 1,178.5 11.4% 621.8 6.1% 10,303.0 100.0% 10,179.0 100.0% 7,155.8 69.5% 8,815.3 86.6% 1,991.5 19.3% 501.4 4.9% 1,040.8 10.1% 836.3 8.2% 114.9 1.1% 26.0 0.3% 10,303.0 100.0% 10,179.0 100.0% 19
103.03 1.22%, 31.47 130.8% 2005 CDMA GSM PHS CDMA CDMA CDMA CDMA GSM GSM PHS 20
(1) (2) 2,517.7 53.6% 2,741.5 61.0% 365.0 50.7% 580.2 44.4% 1,106.5 74.2% 832.9 72.4% 1,872.8 84.6% 2,037.0 78.2% 659.4 56.0% 252.0 40.5% 6,521.4 63.3% 6,443.6 63.3% 2,180.3 46.4% 1,756.0 39.0% 355.6 49.3% 725.3 55.6% 384.8 25.8% 317.6 27.6% 341.8 15.4% 566.7 21.8% 519.1 44.0% 369.8 59.5% 3,781.6 36.7% 3,735.4 36.7% 65.2 1.21% 36.7% 25.2 8.2% 46.4% 39.0% PHS GSM CDMA PHS 2005 PHS 49.3% 55.6% 21
25.8% 27.6% 15.4% 21.8% PHS GSM GSM 44.0% 59.5% 2.47 2.46 11.44 10.43 9.76% 10.24% 11.11% 14.85, 14.47 2.66% 14.22% 14.42% 5.83% 4.65 4.92 4.57% 4.78% 0.50 0.69 27.98% 8.5% 2004 1 6 9.74 2005 1 6 8.90 22
0.75 0.59 27% 0.74 0.70 6.6% 7.6% 9.1% 0.82 1.21 32.6% 14.3% 11.0% 8.8% 7.24 6.60 7.1% 6.4% (2,579.5) (9.1 ) (430.6) (254.4 ) (806.4) 517.7 (3,816.5) 254.2 25.79 0.09 2005 32.78 16 9.41 16 12.95 26% 16 9.63 23
16.40 12.12 1 6 1 6 4.31 2.54 4.36 16 8.06 8.34 3G 2005 24
3G 1 2 2004 2005 3 4 5 10% 6 7 8 25
9 C.2 A.1.3 14 10 14 A.5.4 B.1.3 (b) (c) (d) 26
(e) 2005 4 10 B.1.3 2005 4 10 C.3.3 (b) (c) (f) (g) 2005 4 10 C.3.3 2005 4 10 27
26 27 2004 2004 20041231 959,521,650 10 2.5 2005 5 31 2004 2005 7 7 2005 8 2004 A H 2005 7 4 2005 2005 1 5% 2 3 4 5 28
1 1 2 400 20051 350 29
2004 110 240 3 1 2 2005 50% 50% 3 4 5% 5% 200517 20 H C 叠 9 2005114 13 2004 A12 5 2005126 21 2004 C 叠 5 30
2005321 C01 9 4 2005330 C04 C80 24 2005330 C04 C08 24 2005411 C11C12 2004 15 24 2005411 C12 15 24 2005411 C09C10 2004 1314 2123 2005411 C11 14 21 2005411 C11 14 23 2005415 C44 C 叠 8 2005415 C44 C 8 2005426 C68 2005 C40 30 200561 A13 C9 25 200564 C01 H 28 A13 200574 B05 2004 21 3 31
2005 8 23 2005 2005 10 12 9 +86 (755) 82829966 1 2005 9 9 3 A 000063 2 2005 9 9 4 H H 3 4 H 2005 9 12 2005 10 11 H 2005 9 9 4 183 46 32
1 2005 9 1 2 1,000 1 2 3 2005 9 19 2005 9 22 A 6 518057 1 33
2 24 3 +86 (755) 26770285 +86 (755) 26770286 2005 8 24 34
2005.6.30 2004.12.31 1 3,797,356 2,782,581 7,598,223 6,463,165 2 2,067,281 2,037,355 2,258,088 2,240,530 11,191 1,371 3 4,155,622 4,501,990 3,652,506 4,016,330 4 461,462 988,592 257,595 738,183 5 137,055 97,771 145,398 58,380 6 1,970,962 1,068,608 1,882,808 1,738,023 7 4,192,285 4,673,432 2,614,250 2,923,536 8 272,080 272,080 146,700 146,700 478 17,054,103 16,433,600 18,556,046 18,326,218 9 86,184 3,277,580 67,176 2,992,995 86,184 3,277,580 67,176 2,992,995 10 3,046,745 2,085,376 2,725,769 1,877,501 10 935,418 578,647 793,323 469,997 2,111,327 1,506,729 1,932,446 1,407,504 10 94,980 87,002 94,980 87,002 2,016,347 1,419,727 1,837,466 1,320,502 11 200,221 165,836 114,677 98,100 2,216,568 1,585,563 1,952,143 1,418,602 12 160,713 86,557 146,214 94,358 13 11,511 11,511 23,785 13,376 172,224 98,068 169,999 107,734 14 79,803 76,419 104,625 76,419 19,608,882 21,471,230 20,849,989 22,921,968 为贵 35
2005.6.30 2004.12.31 15 40,738 405,695 340,344 1,542,511 1,716,429 1,422,401 1,453,282 16 3,555,083 6,052,657 2,919,483 5,295,321 17 1,312,259 1,076,453 2,630,721 2,455,494 596,497 384,618 1,031,464 663,925 413,694 338,965 437,786 362,467 273,219 240,801 40,921 920 18 (242,442) (518,577) 52,459 (175,111 ) 7,442 654 13,197 900 19 589,945 1,117,663 698,727 1,078,453 20 463,826 303,471 268,534 248,486 21 20,000 20,000 20,000 20,000 22 16,000 16,900 8,588,772 10,733,134 9,958,288 11,744,481 23 574,696 500,000 1,025,263 950,000 24 312,500 272,080 227,320 177,800 887,196 772,080 1,252,583 1,127,800 9,475,968 11,505,214 11,210,871 12,872,281 517,034 464,679 25 959,522 959,522 959,522 959,522 26 5,501,066 5,527,538 5,491,658 5,515,822 27 985,356 650,718 985,356 650,718 27 252,006 202,836 252,006 202,836 28 2,183,094 2,829,421 1,495,431 2,682,269 (13,158) (1,183) 2,592 1,476 239,880 239,880 9,615,880 9,966,016 9,174,439 10,049,687 19,608,882 21,471,230 20,849,989 22,921,968 为贵 36
200516 200416 29 10,302,998 9,952,489 11,774,259 11,312,014 29 6,423,483 8,109,916 7,438,912 8,423,638 30 36,443 11,474 32,236 23,255 3,843,072 1,831,099 4,303,111 2,865,121 31 2,735 4,178 36,535 19,177 1,447,211 1,156,146 1,313,868 1,232,191 1,588,646 685,648 2,376,196 1,429,992 32 98,706 106,277 103,270 89,967 711,244 (112,794) 546,312 132,148 33 (289) 256,272 (1,457 ) 569,689 34 126,528 185,109 9,218 35 11,683 4,691 6,729 3,032 35 5,111 1,017 33,480 33,097 844,055 147,152 703,213 680,990 74,380 92,055 80,893 82,012 97,976 687,663 147,152 513,182 600,097 1,495,431 2,682,269 1,188,497 2,106,613 2,183,094 2,829,421 1,701,679 2,706,710 2,183,094 2,829,421 1,701,679 2,706,710 2,183,094 2,829,421 1,568,220 2,573,251 200516 200416 1. 2. 3. 191,306 4. (345,164) 5. 6. 为贵 37
200516 8,545,665 7,628,769 126,346 155,247 133,715 8,827,258 7,762,484 7,144,897 7,355,030 1,789,434 1,091,870 730,643 337,070 1,750,157 1,515,727 11,415,131 10,299,697 (2,587,873) (2,537,213 ) 331 331 42 5,494 5,460 5,867 5,791 366,141 313,245 4,500 30,964 370,641 344,209 (364,774) (338,418 ) 4,922 49,467 11,967 54,389 11,967 809,598 745,813 92,228 70,969 500 902,326 816,782 (847,937) (804,815 ) (283) (138) (3,800,867) (3,680,584 ) 为贵 38
200516 687,663 147,152 82,012 50,150 43,541 169,801 109,697 24,990 19,594 14,564 2,626 478 195,292 54,986 10 3,400 576 73,613 68,450 289 (256,272 ) 24,822 (20,477) 626,897 (2,656,460) (2,494,790 ) (1,238,020) (859,670 ) (2,587,873) (2,537,213 ) 3,797,356 2,782,581 7,598,223 6,463,165 (3,800,867) (3,680,584 ) 为贵 39
. (1997)452 453 1997 10 6 5,850 650 1 6.81 2003 2003 12 199711 11 4403011015176 N35868 40
1997 11 18 5,850 1998 9 11 (1998)72 1998 6 30 10 3 75,000,000 325,000 1999 5 27 (1999)78 (1999)42 19,500,000 1999 8 18 344,500 2000 5 20 1999 12 31 10 2 68,900,000 413,400 2001 3 20 (2001)25 5000 32.70 463,400 2001 10 16 2001 30 10 2 92,680,000 556,080 2003 4 25 2002 12 31 10 2 112,216,000 667,296 20045 17 2003 12 31 10 2 133,459,200 800,755 2004 12 9 2004 [2004]865 [2004]38 (H 160,151,040 158,766,450 1,384,590 959,522 41
2005 1 10 3,523,323 3,734,722 1 1.06 161,685 30,859 3,542,178 158,767 3,383,411 959,522,. (1) (2) (3) (4) (5) 汇 3% (6) 汇 42
(7) 3 3 (8) (9) 43
16 612 15% 1218 50% 1824 75% 24 100% 12 2 100% 2 3 3 4 58% 4 5 75% 5 6 92% 6 100% 44
16 612 612 50% 1224 75% 1224 50% 24 100% (10) 45
(11) (1) a. b. 10 2003 4 10 10 2003 4 10 c. 20% 20% 46
(2) a. b. c. (3) 47
(12) 5% 30 3.17% 3 31.67% 10 9.5% 5 19% 5 19% 10 9.5% 5 19% (13) (1) 3 (2) (3) (14) 48
10 (1) (2) (3) (4) (15) (16) 49
(17) (18) (19) (96)2. 17% 17% 3%5% 7%1% 3% *1 7.5%15%33% *1 15% (2005)004 1 2 3 5 15% 50
(2005)0098 (2002)21 33% 18% 15% (2004)0034 1 2 35 7.5% 33% 15%. 1 5,000 90% 90% 4,500 1,500 90% 90% 1,350 93% 93% 3791.9 65.47 1,000 90% 10% 100% 1,000 CDMA 51
6,400 40% 40% 3,440 600 65% 65% 390 3,333.3 95% 95% 3,166.6 980 51% 51% 500 723.1 81% 81% 2,556 5,000 90% 90% 4,500 1,300 90% 10% 100% 3,300 1,000 65% 65% 650 300 80% 80% 240 1,000 35% 35% 350 2,221.44 51% 51% 1,569.77 300 51% 51% 153 200 90% 90% 180 5,000 100% 100% 5,000 Bestel Communications Limited 30 50% 50% 15 ZTE Portugal 5 100% 100% 5 Projectos de Telecommunieacoes, Unipessoal, Lda 500 50% 50% 250 * 500 70% 35% 350 2 100% 100% 65 52
100 54% 54% 54 Telrise (Cayman) Telecom Ltd. 5 52.85% 52.85% 255 Telrise INC. 160.9 100% 100% 160.9 10 100% 100% 10 ZTE (UK) Limited 60.4 51% 51% 37.23 ZTE Do Brasil Ltda. 650 100% 100% 90 ZTE Holdings (Thailand) Co.,Ltd 10 49% 49% 4.9 ** ZTE (Thailand) Co.,Ltd 200 49% 51% 100% 98 ZTE Corporation Mexico S. DE R. L 5,000 100% 100% 2.8115 DE C.V. 5,500 75% 5% 80% 4,125 95 100% 100% 47.5 ZTE-Communication Technogies,Ltd 76 100% 100% 76 ZTE Wistron Telecom AB 100 100% 100% 313.74 3,000 51% 51% 1,530 1,000 62.5% 62.5% 625 870 63.22% 63.22% 550 1,600 57.5% 57.5% 920 100 80% 80% 80 1,100 9% 9% 250 53
1000 40% 40% 400 5,000 90% 10% 100% 5,000 1,000 51% 51% 510 500 90% 90% 450 1,000 30% 30% 300 SunTop Technologies Ltd. 5 26.54% 26.54% 2,866.5 Closed Joint Stock Company 400 51% 51% 1,687.08CDMA800 TK Mobile CDMA ZTE Kangxun Telecom Company 2.22 100% 100% 165.4 India Private Ltd. ZTE ROMANIA SRL 10 100% 100% 82.7 ZTE MALAYSIA CORPORATION 6 100% 100% 49.62 SDN. BHD. ZiMax (Cayman) Holding Ltd. 550 100% 100% 4,548.5 KAZNURTEL Limited Liability 300 49% 49% 101.3075 Company CDMA45OMWLL 54
1,000 75% 75% 750 ZTE (HK) Ltd. Saudi Arabia 200 100% 100% 53.4760 ZTE NIGERIA INVESTMENT LTD 100% 100% 500 54 ZTE Sweden AB 100% 100% 36 100 PT ZTE INDONESIA 20 99.5% 0.5% 100% 20 ZTE (Australia) Pty Ltd 20 100% 100% 20 * ** ZTE Holdings (Thiland) Co. Ltd 49% (1996)2 2 *1 ZTE Future Tel Co., Ltd. *2 *3 *4 ZTE (HK) Ltd. Saudi Arabia *5 ZTE NIGERIA INVESTMENT LTD *6 ZTE Sweden AB *7 PT ZTE INDONESIA *8 *1 20055 20054 20056 *2 20055 ZTE Future Tel Co., Ltd. 55
*3 2005 3 17.6% 440 2005 5 40% *4 2005 1 750 75% *5 2005 5 200 ZTE (HK) Ltd. Saudi Arabia 100% *6 2005 6 500 ZTE NIGERIA INVESTMENT LTD 100% *7 2005 3 100 ZTE Sweden AB 100% *8 2005 5 20 PT INDONESIA 100% ZTE 56
. 1. RMB 10,394 1.00 10,394 366 1.00 366 HKD 75 1.06 80 353 1.06 389 USD 192 8.27 1,591 1,625 8.27 13,481 BRL 1 3.52 4 72 2.89 224 11,565 404 23,634 14,864 RMB 2,366,925 1.00 2,366,925 2,081,252 1.00 2,081,252 HKD 17,956 1.06 19,033 2,910,758 1.06 3,086,167 USD 62,834 8.27 519,634 219,675 8.27 1,815,532 JPY 20,225 0.08 1,618 308,288 0.08 22,380 SEK 2,556 1.06 2,709 1,640 1.13 1,852 GBP 197 14.83 2,915 170 15.91 2,496 EGP 12,794 1.42 18,173 12,947 1.35 17,454 BRL 21,283 3.52 74,916 41,913 2.89 130,768 PKR 378,950 0.14 53,053 215,941 0.15 32,278 EUR 8,597 10.00 85,974 6,696 11.26 74,380 46,655 9,108 3,191,605 7,273,667 RMB 485,156 1.00 485,156 304,656 1.0000 304,656 HKD 37,637 1.06 39,895 1.0603 PKR 96,236 0.14 13,473 24,741 0.1495 3,698 USD 480 8.27 3,983 118 8.2705 977 39,610 361 582,117 309,692 3,797,356 7,598,223 57
2. 948,024 743,356 1,119,257 1,514,732 2,067,281 2,258,088 * 31,181 3. 3,762,499 81.10% 145,136 3,513,954 86.08% 124,909 736,829 15.88% 205,969 420,742 10.31% 224,275 65,047 1.40% 61,952 113,999 2.79% 67,346 75,164 1.62% 70,860 33,416 0.82% 13,075 4,639,539 100% 483,917 4,082,111 100% 429,605 * 2005630 3,245,260 69.95% ** 5% 5%177 3,816,329 76.78% 145,136 3,887,109 87.61% 123,773 983,363 19.78% 193,296 410,416 9.25% 216,698 100,415 2.02% 59,685 110,457 2.49% 67,244 70,728 1.42% 70,728 28,946 0.65% 12,883 4,970,835 100% 468,845 4,436,928 100% 420,598 * 2005630 3,166,762 63.71% 58
4. 696,449 70.57% 304,926 291,783 39.69% 175,946 193,650 19.62% 128,403 271,113 36.88% 137,116 21,434 2.17% 18,456 42,628 5.80% 41,418 75,345 7.64% 73,631 129,564 17.63% 123,013 986,878 100% 525,416 735,088 100% 477,493 * 5% 5% 1,090,061 72.17% 302,385 781,310 64.92% 166,872 320,936 21.25% 128,403 257,046 21.36% 135,531 26,612 1.76% 18,456 41,667 3.46% 41,156 72,753 4.82% 72,526 123,527 10.26% 121,808 1,510,362 100% 521,770 1,203,550 100% 465,367 * 5% 5% 5. 136,855 99.85% 145,151 99.83% 200 0.15% 247 0.17% 137,055 100% 145,398 100% * 5% 5% 59
6. 1,507,638 87,957 1,304,417 86,161 309,992 7,311 356,899 430,276 215,874 575,071 333,612 34,198 66,194 2,282,104 311,142 2,302,581 419,773 86,161 1,796 87,957 7,311 7,311 333,612 117,738 215,874 419,773 9,107 117,738 311,142 7. 3,085,594 176,412 1,404,003 170,094 1,505,982 222,879 1,552,992 172,651 4,591,576 399,291 2,956,995 342,745 170,094 6,318 176,412 172,651 50,228 222,879 342,745 56,546 399,291 60
8. 272,080 146,700 [2002]36 9. (1) 80,905 80,905 61,491 61,491 18,315 13,036 5,279 18,721 13,036 5,685 99,220 13,036 86,184 80,212 13,036 67,176 61
a. I. 0.33% 500 5,000 5,000 7.59% 324 3,240 3,240 Spread Telecom 4.5% 17.6 176 176 Edmotech Co., Ltd 18% 140.6 1,406 1,406 22.73% 250 2,500 2,500 16.00% 3,200 32,000 32,000 SunTop Technologies Ltd. 26.54% 2.4 24 24 44,346 1,582 42,764 II. 30% 300 329 329 50% 250 6,311 6,311 KAZNURTEL Limited Liability Company 49% 250 1,012 1,012 35% 350 3,500 3,500 40% 400 4,000 4,000 Bestel Communication Ltd 50% 15 1,993 1,993 34% 560 5,597 5,597 40% 3,000 10,899 10,899 30% 450 4,500 4,500 17,145 10,097 10,899 38,141 62
b. 13,036 13,036 c. 10 8,626 406 3,347 5,279 (2) 3,283,476 3,283,476 2,999,345 2,999,345 7,140 13,036 (5,896) 6,686 13,036 (6,350 ) 3,290,616 13,036 3,277,580 3,006,031 13,036 2,992,995 63
a. I. 0.33% 500 5,000 5,000 7.59% 324 3,240 3,240 16.00% 3,200 32,000 32,000 SunTop Technologies Ltd. 26.54% 2.4 24 24 40,264 40,264 II. 90% 4,500 1,036,766 145,434 1,182,200 90% 900 9,340 37 9,377 51% 408 5,587 (5,587 ) 50% 250 6,311 6,311 100% 65 4,173 (11,496 ) (7,323 ) 65% 650 29,487 (793 ) 28,694 40% 3,000 6,808 4,091 10,899 30% 300 329 329 100% 550 400,368 5,632 406,000 51% 1,569.77 18,617 846 19,463 Telrise (Cayman) Telecom Ltd. 52.85% 1,577 5,965 (47 ) 5,918 ZTE Future Tel Co.,Ltd 54.14% 2,697.5 561 (561 ) 90% 1,231.8 3,292 3,292 64
51% 4,150 32,156 296 32,452 65% 390 (9,890 ) (1,632 ) (11,522 ) 95% 3,166.60 9,034 87,138 96,172 81% 2,556 55,705 36,274 91,979 ZTE (UK) Limited 51% 37.23 (6,876 ) (1,370 ) (8,246 ) 90% 4,500 1,175,302 169,564 1,344,866 75% 2,400 36,922 (2,392 ) 34,530 ZTE Wistron Telecom AB 100% 313.74 1,714 796 2,510 ZTE-Communication 100% 95 5,563 (4,481 ) 1,082 Technologies,Ltd ZTE DO Brasil LTDA 100% 90 (1,138 ) (1,831 ) (2,969 ) 51% 1,530 42,885 5,608 48,493 93% 155 3,468 3,729 (165,473 ) (158,276) 90% 450 4,774 (138 ) 4,636 90% 4,500 44,931 (3,455 ) 41,476 51% 510 5,431 1,669 7,100 54% 54 488 88 576 ZTE Holdings (Thailand) 49% 1.372 (6 ) 4 (2 ) Co.,Ltd ZTE (Thailand) Co.,Ltd 49% 20.4526 (1,745 ) (146 ) (1,891 ) ZTE Corporation Mexico S. DE R. L DE C.V. 100% 2.8115 (5,775 ) (2,725 ) (8,500 ) Closed Joint Stock Company TK Mobile 51% 204 14,935 (829 ) 14,106 ZTE Kangxun Telecom Company 100% 20 1,599 (14,027 ) (12,428 ) India (Private) Ltd ZTE ROMANIA SRL 100% 10 449 (2,639 ) (2,190 ) ZTE MALAYSIA 100% 6 (134 ) (1,190 ) (1,324 ) CORPORATION SDN. BHD. ZiMax (Cayman) Holding Ltd. 100% 250 20,673 24,810 45,483 KAZNURTEL Limited 49% 250 1,013 1,013 Liability Company 34% 560 5,597 5,597 PT ZTE INDONESIA 100% 20 1,654 7,175 8,829 30% 450 4,500 4,500 2,959,082 34,142 249,988 3,243,212 65
b. 13,036 13,036 c. 10 (17,193) (860) (6,018) (11,175) 10 8,626 406 3,347 5,279 (8,567 ) (454 ) (2,671 ) (5,896) 10. 692,156 692,156 177,271 27,853 6,691 198,433 879,133 124,278 19,045 984,366 898,749 197,136 15,684 1,080,201 78,460 13,228 99 91,589 2,725,769 362,495 41,519 3,046,745 81,452 15,206 96,658 24,839 7,929 3,996 28,772 250,080 44,304 13,247 281,137 432,085 101,376 10,378 523,083 4,867 986 85 5,768 793,323 169,801 27,706 935,418 66
7,708 7,708 1,475 1,475 85,797 85,797 94,980 94,980 1,837,466 2,016,347 11. 333,136 71,269 57,510 128,779 24,446 3,318 27,764 4th phase expanding network 11,407 11,407 20,000 7,555 39,153 3,030 43,678 353,136 114,677 99,981 11,407 3,030 200,221 * 85,544 74.60% 12. 123,030 12,232 165 20,989 114,108 15 5,877 3,587 117 2,173 110 4,751 162 4,589 49 7,753 4 7,749 31,757 31,013 3,722 59,048 173,168 43,245 3,756 24,990 187,667 67
12,882 12,882 6,322 6,322 7,750 7,750 26,954 26,954 13. 18,409 1,070 7,968 11,511 15 5,376 1,220 6,596 13 23,785 2,290 14,564 11,511 14. 79,803 104,625 15. RMB 23,000 23,000 RMB 2,021 2,021 RMB 350,334 350,334 RMB 17,738 17,738 12,000 12,000 USD 5,000 41,340 40,738 405,695 68
16. 3,555,083 5% 5% 75,897 17. 1,312,259 5% 5% 18. (340,882) (223,852 ) 5,439 13,815 2,443 2,763 77,463 228,648 8,142 10 4,953 31,075 (242,442) 52,459 19. 589,945 5% 5%313 20. 22,552 3,072 5,154 3,966 184,590 1,063 221,179 186,227 26,336 30,351 47,870 463,826 268,534 21. 20,000 69
22. RMB 900 900 USD 1,929 16,000 1,929 16,000 16,000 16,900 23. RMB 450,000 450,000 RMB 500,000 500,000 500,000 500,000 USD 7,719 64,000 7,719 64,000 EUR 1,000 10,696 1,000 11,263 574,696 1,025,263 24. 312,500 227,320 70
25. 1. 462,273 462,273 13,478 13,478 2. 21,566 21,566 497,317 497,317 1. 302,054 302,054 2. 160,151 160,151 462,205 462,205 959,522 959,522 26. 5,462,657 5,462,657 62 62 28,939 4,101 33,040 5,307 5,307 5,491,658 9,408 5,501,066 27. 985,356 985,356 733,350 733,350 252,006 252,006 71
28. 1,495,431 687,663 2,183,094 29. 2005 2004 6,909,884 3,771,337 9,064,796 5,343,264 2,214,613 1,980,083 2,653,375 2,063,378 1,178,501 672,063 56,088 32,270 10,302,998 6,423,483 11,774,259 7,438,912 * 5,599,287 54.35% 2005 2004 7,155,786 4,698,008 9,704,455 6,398,880 3,147,212 1,725,475 2,069,804 1,040,032 10,302,998 6,423,483 11,774,259 7,438,912 72
2005 2004 6,723,099 5,521,723 8,697,695 6,394,938 2,112,341 1,956,475 2,614,319 2,028,700 1,117,049 631,718 9,952,489 8,109,916 11,312,014 8,423,638 2005 2004 7,062,517 6,019,105 9,534,647 7,280,940 2,889,972 2,090,811 1,777,367 1,142,698 9,952,489 8,109,916 11,312,014 8,423,638 30. 2005 16,034 5%, 3% 5,832 1%, 7% 14,577 3% 36,443 73
31. 20052004 36,535 2,735 2,735 36,535 32. 20052004 73,613 56,856 31,201 8,262 (11,302) (2,694 ) 37,855 22,426 29,741 34,944 98,706 103,270 33. 20052004 (406) (1,275 ) 347 (182 ) (230) (289) (1,457) 20052004 256,049 570,964 453 (1,275 ) (230) 256,272 569,689 74
34. 20052004 * 120,528 181,430 1,496 6,000 2,183 126,528 185,109 * 3% 35. 1. 20052004 2,605 2,682 2,558 973 3,294 5,547 753 11,683 6,729 2. 20052004 4,373 32,992 738 488 5,111 33,480 75
. 1. (1) (2) RMB1,000 ** 44.11% ** 76
2. (1) 200516 2004 16 137,098 2.06% 167,582 2.53% 76,661 1.15% 45,394 0.68% 39,287 0.59% 94,939 1.43% 332 1,638 0.02% 3,492 0.05% 8,259 0.12% 22,863 0.34% 76 5,364 0.08% 9,732 0.15% 39,747 0.59% 77
(2) 200516 2004 16 3,765 0.04% 360 4,094 0.04% 2,412 0.02% 5,769 0.05% 2,634 0.03% 557 4,265 0.04% 5,253 0.05% 9,337 0.09% 2,792 0.02% 3,639 0.04% 43,577 0.38% * 78
3 75,897 51,168 40,988 31,325 409 3,487 9,856 2,057 22,324 17,939 5,046 4,903 182 93 5,831 3,923 313 313 65 65 12 12 3,533 876 8,448 613 3,929 2,663 182 630 65 565 1,038 1,394 177 169 6,012 2,930 3,057 3,187 122 1,246 2,270 479 1,313 1,884 990 5 9 4 1,082 1,417 93 20 847 2,092 60 12,087 12,087 105,805 2,563 936 79
. 1 2005 6 30 31,181 2 2005 6 30 891,660 3 [B] 0288 22,632 2004 12 24 20056 30 1,720 2006 9 4 2005 6 30 1,461,311. 7 22. 80
. 9,631,289 GAAP 28,923 (43,926 ) (406 ) 9,615,880 660,359 GAAP 27,710 (406 ) 687,663. 39.97% 40.38% 4.00 4.00 7.40% 7.47% 0.74 0.74 7.15% 7.22% 0.72 0.72 7.02% 7.10% 0.70 0.70 81
2005630 907,098 102,235 1,009,333 429,605 54,312 483,917 477,493 47,923 525,416 419,773 9,107 117,738 311,142 86,161 1,796 87,957 7,311 7,311 333,612 117,738 215,874 342,745 56,546 399,291 170,094 6,318 176,412 172,651 50,228 222,879 13,036 13,036 94,980 94,980 1,475 1,475 85,797 85,797 7,708 7,708 26,954 26,954 6,322 6,322 12,882 12,882 7,750 7,750 82
84107 2005630 6 34 700 2005630 6 2005823 83
2005630 6 630 6 2005 2004 4 10,302,992 10,178,962 (6,521,433) (6,443,536) 3,781,559 3,735,426 34,592 14,876 4 246,329 246,898 (1,144,343) (1,042,617 ) (1,485,474) (1,447,017 ) (492,006) (464,910 ) (49,861) (69,230) 5 890,796 973,426 6 (74,805) (58,902) 1,191 661 (822) (182) 816,360 915,003 7 (74,380) (69,779) 741,980 845,224 660,359 724,059 81,621 121,165 9 0.69 0.90 84
2005630 2005 630 2004 1231 2,192,784 1,935,658 49,341 52,042 208,922 207,949 5,684 5,684 50,141 7,786 19,822 8,845 10 10,764 44,347 12 88 79,803 104,681 2,617,261 2,367,080 1,275 1,887 1,860,150 1,725,067 11 4,392,127 2,752,024 12 6,319,600 5,912,181 1,166,374 651,301 110,803 88,978 3,686,553 7,509,245 17,536,882 18,640,683 13 5,155,550 4,341,111 11 1,106,998 2,318,731 2,634,518 2,808,160 56,738 421,695 77,463 230,719 240,801 920 9,272,068 10,121,336 8,264,814 8,519,347 10,882,075 10,886,427 8585
2005630 2005 630 2004 1231 574,695 1,025,262 28,923 28,923 121,020 136,710 724,638 1,190,895 10,157,437 9,695,532 959,522 959,522 8,671,767 8,017,750 239,880 9,631,289 9,217,152 526,148 478,380 10,157,437 9,695,532 86
2005630 6 200511 959,522 5,462,515 985,356 3,786 1,566,093 239,880 9,217,152 478,380 9,695,532 (6,342 ) (6,342 ) (448 ) (6,790 ) 660,359 660,359 81,621 741,980 2004 (239,880 ) (239,880 ) (239,880 ) (20,990 ) (20,990 ) (11,555 ) (11,555 ) (860 ) (860 ) 2005630 959,522 5,462,515 * 985,356 * (2,556)* 2,226,452 * 9,631,289 526,148 10,157,437 200411 667,296 2,079,104 720,208 1,043 932,091 200,188 4,599,930 226,553 4,826,483 133,459 (133,459 ) 724,059 724,059 121,165 845,224 431 (431 ) 2003 (200,188 ) (200,188 ) (200,188 ) 43,931 43,931 5,869 5,869 (280 ) (280 ) 59 59 (188 ) (129 ) 2004630 800,755 2,079,104 720,639 1,102 1,522,260 5,123,860 397,050 5,520,910 959,522 5,462,515 984,596 (2,680 ) 2,223,449 9,627,402 526,148 10,153,550 760 124 2,895 3,779 3,779 108 108 108 2005630 959,522 5,462,515 985,356 (2,556 ) 2,226,452 9,631,289 526,148 10,157,437 800,755 2,079,104 719,879 1,016 1,520,654 5,121,408 397,050 5,518,458 760 86 890 1,736 1,736 716 716 716 2004630 800,755 2,079,104 720,639 1,102 1,522,260 5,123,860 397,050 5,520,910 * 8,671,767,0002004630 4,323,105,000 87
2005630 6 630 6 2005 2004 (2,579,465) (9,132 ) (430,634) (254,354 ) (806,394) 517,714 (3,816,493) 254,228 7,509,245 3,572,867 (6,199) 305 3,686,553 3,827,400 3,233,431 3,757,044 453,122 70,356 3,686,553 3,827,400 88
2005 6 30 6 1. 518057) 2005 6 30 6 2. 34 2004 12 31 1 2 7 8 10 11 12 14 16 17 18 19 20 21 23 24 27 28 31 32 33 34 36 37 38 89
2005 6 30 6 2. 39 3 10 13 15 21 27 29 20 4 1 2 7 8 10 11 12 14 18 19 20 21 23 27 28 31 33 34 37 10 1315212729 4 (a) 17 17 2004 12 31 (b) 3 36 90
2005 6 30 6 2. (b) 3 36 3 36 3 2005 1 1 2005 1 1 8,309,000 3 (c) 24 (d) 32 39 (i) 91
2005 6 30 6 2. (d) 32 39 (i) 32 39 39 (1) (2) 39 92
2005630 6 3. 2005630 6 (a) 6 30 6 630 6 630 6 630 6 630 6 630 6 2005 2004 2005 2004 2005 2004 2005 2004 2005 2004 2005 2004 4,698,010 4,497,480 720,579 1,305,494 1,491,294 1,150,505 1,069,867 565,693 7,979,750 7,519,172 2,214,613 2,603,702 108,629 56,088 2,323,242 2,659,790 4,698,010 4,497,480 720,579 1,305,494 1,491,294 1,150,505 2,214,613 2,603,702 1,178,496 621,781 10,302,992 10,178,962 1,484,583 1,116,688 248,842 539,736 163,975 154,064 104,043 196,534 294,642 281,387 2,296,085 2,288,409 280,921 261,774 (1,686,210 ) (1,576,757 ) 890,796 973,426 (74,805 ) (58,902 ) 1,191 661 (822 ) (182 ) 816,360 915,003 (74,380 ) (69,779 ) 741,980 845,224 660,359 724,059 81,621 121,165 (b) 630 630 6 630 6 630 6 630 6 2005 2004 2005 2004 2005 2004 2005 2004 2005 2004 5,267,957 6,213,135 1,715,814 499,925 932,230 780,179 63,749 25,933 7,979,750 7,519,172 1,887,823 2,602,159 275,654 1,486 108,629 56,088 51,136 57 2,323,242 2,659,790 7,155,780 8,815,294 1,991,468 501,411 1,040,859 836,267 114,885 25,990 10,302,992 10,178,962 93
2005630 6 4. 630 6 2005 2004 7,979,750 7,519,229 2,323,242 2,659,733 10,302,992 10,178,962 119,406 15,402 26,790 3,037 5,723 # 120,528 182,030 242,971 229,945 4,770 12,183 3,358 3,358 16,953 246,329 246,898 # 2005630 6 2005630 6 17% 3% 94
2005630 6 5. 630 6 2005 2004 169,802 116,028 38,422 43,897 7,847 3,421 42,961 55,357 (33,122) 137,745 5,284 4,936 6. 630 6 2005 2004 16,171 31,104 3,888 538 20,059 31,642 54,746 27,260 74,805 58,902 7. 630 6 2005 2004 2,258 3,723 37,116 85,734 10,128 3,560 24,878 (23,238) 74,380 69,779 95
2005 6 30 6 7. 17.5% 2004 17.5% 33% 15% 1997 7 31 1997 1 1 50% 20011231 200181 12 50% 2002 1 1 2004 12 31 2005 1 15% 2003 1 1 50% 2007 12 31 7.5% 50% 8. 9. 2005 6 30 6 660,359,000 2004 724,059,000 959,521,649 (2004 800,755,200 2004 5 5 133,459,200 A 96
2005630 6 10. 11. 2005 2004 630 1231 4,392,127 2,752,024 (1,106,998) (2,318,731) 3,285,129 433,293 16,264,413 15,327,336 (12,979,284) (14,894,043) 3,285,129 433,293 12. 90 2005 2004 630 1231 6 4,492,342 4,252,421 712 1,311,641 1,453,143 12 507,287 194,940 23 4,025 5,609 3 4,305 6,156 6,319,600 5,912,269 (6,319,600) (5,912,181) 88 97
2005630 6 12. 2005 2004 630 1231 169 169 2,749 2,354 3,057 4,197 9,340 7,151 15,315 13,871 13. 2005 2004 630 1231 6 5,058,633 4,180,450 712 47,584 61,260 12 23,459 68,391 23 6,747 8,200 3 19,127 22,810 5,155,550 4,341,111 2005 2004 630 1231 75,572 51,168 95,671 78,166 171,243 129,334 98
2005630 6 14. 1 9 20056 30 2005 2004 630 1231 1 138,850 74,350 2 5 113,490 67,542 5 4,384 7,431 256,724 149,323 15. 13 2005 2004 630 1231 222,776 282,446 222,776 282,446 16. (a) 2005 2004 630 1231 31,181 440,885 891,660 691,744 1,461,311 1,626,070 2,384,152 2,758,699 99
2005 6 30 6 16. (b) 2000 426 3,400 3,000 3 5 2001 1,884,250 A 3 5 A 2004 4 20 3 2006 6 20 5 2004 2006 2001 2003 2004 18.5 2005 6 30 2,600,649 A 100
2005630 6 17. 630 6 2005 2004 687,663 513,182 (i) (14,021) 17,613 (ii) (79,000) (iii) (874) (iv) (13,689) (8,147) (v) 406 (vi) (507,436 ) (vii) 22,277 (viii) 555,896 (ix) (27,414 ) (x) 70,408 (xi) 167,554 660,359 724,059 2005 2004 630 1231 9,615,880 9,174,439 (i) (8,872) 5,149 (iii) (28,923) (28,923 ) (iv) 52,798 66,487 (v) 406 9,631,289 9,217,152 101
2005 6 30 6 17. (i) (ii) (iii) (iv) 102
2005 6 30 6 17. (v) 10 3 36 3 36 3 2005 1 1 (vi) 2004 12 31 (vii) (viii) 2004 12 31 103
2005 6 30 6 17. (ix) (x) 2004 12 31 (xi) 2004 12 31 2004 104
2005630 6 18. (I) 630 6 2005 2004 (b) 41,098 (a) 89,693 59,278 (b) 3,082 557 (a) 4,474 14,493 (b) 10,551 26,412 (c) 58,000 (a) 89 312 (b) 9,780 3,166 (b) 10,924 (b) 2,822 6,310 (a) 11,386 (b) 4,258 (b) 3,267 (a) 6,276 105
2005630 6 18. (I) 630 6 2005 2004 (c) 80,000 80,000 (a) (b) (c) (II) 630 6 2005 2004 4,057 3,650 29 4,057 3,679 106
2005 6 30 6 19. 20. 7 汇 22 汇 汇 21. 2005 8 23 107
1 2 3 4 108
ZTE CORPORATION 5th Proof 2 H 1 3 +86 (755) 82829966 1. 200591 2. 1,000 5 1. H 2. 3. 4. 5. 6. 7. 518057) H 183 46
ZTE CORPORATION 1st Proof (1) 1 (2) 1. 2. 3. +86 (755) 26770286 H 11 8 +852 35898555