证券代码（A/H）：000063/763 证券简称(A/H)：中兴通讯 公告编号：202083
中兴通讯股份有限公司关于按照《香港上市规则》公布
2020年半年度报告
本公司及董事会全体成员保证本公告的内容真实、准确和完整，没有虚假记载、误导性陈述或重大遗漏。
中兴通讯股份有限公司根据《香港联合交易所有限公司证券上市规则》（简称“《香港上市规则》”）规定，在香港联合交易所有限公司披露易网站（www.hkexnews.hk）刊登了按照香港财务报告准则编制的《2020年半年度报告》。
根据《深圳证券交易所股票上市规则》16.1条关于境内外同步披露的要求，特将有关公告同步披露如下，供参阅。
特此公告。
中兴通讯股份有限公司董事会
2020年9月11日
: 000063.SZ763.HK
2020
2020630
2020
2020
(http://www.cninfo.com.cn)
2 4
7 9 11 29
5334 189 220
定義
STEnablence TechnologiesEnablence Technologies Inc.
201720162017A2017
H
詞匯表
4GITUIMT-AdvancedLTE-Advanced
Wireless MAN-Advanced (802.16m)1Gbit/s
100Mbit/s5G4G5G
1,00010010
ICTITCTICTAI(Artificial Intelligence)AR(Augmented Reality)
VR(Virtual Reality)
CDN(Content Delivery Network)
PON(Passive Optical Network)
FTTHFTTDpFTTBFTTCGPONEPON10G EPONXG PONSA5G SA5G5G
4G5G SA4GNSA5G NSA5G
LTE5GMEC(Mobile Edge Computing)
IT
Common EdgeCommon Edge
OTN(Optical Transport Network)
OTNG.872G.709G.798ITU-T
WDMWDM(Wavelength Division Multiplexing)
(Volume)(Variety)(Velocity)(Value)4V4K/8K/VR/AR
4K4096
Internet
SaaSPaaSIaaS
公司基本情況
ZTE CorporationZTE
+86 755 26770282+86 755 26770286IR@zte.com.cn
518057http://www.zte.com.cnIR@zte.com.cn
http://www.cninfo.com.cnhttp://www.hkexnews.hk
7A
000063H
8 ?
會計數據和財務指標摘要
?
2020630
20191231
165,432,364141,202,13517.16%41,156,11628,826,86842.77%
4,613,4354,227,5309.13%
8.926.8230.79%(%)73.24%73.12%0.12
20201–
20191–
47,199,37344,609,2195.81%2,840,6002,343,20921.23%2,840,9712,237,47726.97%1,857,2891,470,69926.29%902,115612,13847.37%
0.400.3514.29%
0.400.3514.29%
0.200.1533.33%
5.28%6.20%0.92
2.56%2.58%0.022,040,7701,266,61761.12%
0.440.3046.67%1 A381,098,96820174,805,995A
4,227,529,8694,613,434,832
3 201720201–620191–622,14330,440
會計數據和財務指標摘要
1,272,667(121,434)57,35126,61828,6707,165171,92019,037955,174
20201–620191–
0.400.35
5.28%6.20%
2.56%2.58%
202063020191231
8.926.82
20201–
2020630
公司業務概要
ICT
5G5G
5G5G5G5G SA5G SA
5G SA5G7nm5G
5G
FASTSuperDSSMassive MIMOCommon Core
2/3/4/5G5G SANSA
公司業務概要
Common Edge4G/5G/WiFiMEC5GGSMA UP2.445Gfirst call5AI5G2020610FlexE (Flex Ethernet)
3GPPGlobalDataEstablished Player
600100G/100G OTNFlex Shaping100G30%100GZXONE 9700GlobalDataLeader
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5G2020630160386280
5GAI5G+uSmart
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GoldenDB5G
5G2020630
7.63.64,1005G5,0005GIPLytics20202ETSI5G2,561ITU3GPPETSIIEEENGMNCCSA70
董事會報告
2020630
–57189
2020 1 2020
202020201–
6,9273.2%6(DOU)10.14GB/29.3%121.55GB/20205G5G5G
2020
2 2020
20205GGSA202063036845G5G5G
ICT5G 3 2020
2020471.995.81%
20201–
18.5726.29%0.40(1)
317.51
67.27%2020
董事會報告
154.48
32.73%2020
(2)
349.7048.16
74.13
2020
5G5G465G5G5G
PONFTTx100G5G
20205G
5G
47,199,373100%31,418,30333.43%5.81%15.85%(5.78)47,199,373100%31,418,30333.43%5.81%15.85%(5.78)34,969,58974.09%22,260,79336.34%7.65%23.98%(8.39)4,816,59810.20%3,455,13928.27%2.48%16.59%(8.68)7,413,18615.71%5,702,37123.08%(0.15%)(8.03%)6.6047,199,373100%31,418,30333.43%5.81%15.85%(5.78)31,751,16467.27%21,910,51930.99%15.79%33.80%(9.29)6,923,10214.67%3,856,22244.30%(11.33%)(14.72%)2.212,522,7505.34%1,147,42454.52%(7.09%)(24.17%)10.256,002,35712.72%4,504,13824.96%(9.93%)(4.34%)(4.39)47,199,373100%31,418,30333.43%5.81%15.85%(5.78)(1)
20201–647,199,3735.81%31,751,16415.79%15,448,209
10.12%
20201–
20201–
67.65%5G20201–
2.48%
(2)
20201–620191–
47,199,37331,418,30333.43%44,561,89027,086,19339.22%5.92%15.99%(5.79) 20191–620201–
董事會報告
2020162020120202022720203102020592020512
202034
5.1%202034
20201–620191–
23,951,19876.23%19,859,30173.23%20.60%5,988,55119.06%6,103,11322.50%(1.88%)29,939,74995.29%25,962,41495.73%15.32%
20201–620191–
3,940,5954,025,746(2.12%)2,265,1262,538,508(10.77%)632,833662,809(4.52%)517,590412,91425.35%
20201–620191–
6,637,3766,471,8662.56%
14.06%14.51%0.451,112,6931,016,5469.46%
16.76%15.71%1.05
20201–620191–
56,586,44649,563,20714.17%54,545,67648,296,59012.94%2,040,7701,266,61761.12%
1,810,7741,789,9321.16%9,458,6966,657,96142.07%(7,647,922)(4,868,029)(57.11%)
47,536,79023,807,76999.67%33,606,45314,781,723127.35%13,930,3379,026,04654.33%
8,469,2125,502,54953.91%
(1)(2)20202,840,60021.23%
13,475,9301.63%30,25790.41%
100.35%
(3)202033.43%5.78
董事會報告
(1)
202063020191231
165,432,364100%141,202,135100%—45,867,99727.73%33,309,34723.59%4.1416,898,23010.21%19,778,28014.01%(3.80)37,179,09222.47%27,688,50819.61%2.861,960,8641.19%1,957,2421.39%(0.20)2,292,4521.39%2,327,2881.65%(0.26)10,314,5056.23%9,383,4886.65%(0.42)845,1740.51%1,171,7160.83%(0.32)16,619,17710.05%26,645,96618.87%(8.82)718,6380.43%612,2610.43%—21,835,07613.20%10,045,0937.11%6.09(2)
1.
560,662479,288——119,242164,0861,066,532 2.106,065(75,110)192———31,147 3.2,430,389——1,0137,804,3756,246,3653,987,386 4.
1,594,254(24,515)——1,34483,4211,530,2324,691,370379,6631921,0137,924,9616,493,8726,615,2971,957,2423,622————1,960,864——————————————6,648,612383,2851921,0137,924,9616,493,8728,576,161
126,2235,561(257)———131,527
(3)
(1)
229,245.22019630279,660.6
18.03%259,676.42019630221,599.3
17.18%
(2)(3)
14,950.8647,671.97—1,394.169,156.6021,195.20100,378.84—(7,511.00)19.20——7,047.453,114.67373,268.34(2,194.63)—791,101.92640,230.623,989.63558,036.22388,219.2037,966.3419.20792,496.08649,387.2232,232.28661,529.73—
(4)
A
002902
379.304,102.22(1,600.37)
——1,328.35(418.70)2,390.30300691
1,277.634,743.33(3,124.36)——4,303.22(201.44)506.27002796
789.692,776.63(1,986.94)
——3,525.03574.99—
002579
1,382.31—(13.40)—1,382.31—(2.76)1,368.91603068
2,175.999,097.11(54.20)———(12.68)9,042.91688019
4,350.0027,512.9252,616.08———52,704.0380,129.00688300
1,000.834,090.502,099.70———2,149.706,190.20601258ST
11.85
—
0.10
—
11.85
—
0.1011.95
ENATSVEnablence Technologies
3,583.261,003.94(264.64)———(264.64)739.30———————————14,950.86—53,326.6547,671.97—1,394.169,156.6054,528.60100,378.84——1 31%
董事會報告
2 31.79%3 25.83%4 ST2020ST
STST5 201516Enablence Technologies270
201513115.159631,393.10201622Enablence Technologies462201622914.740602,190.16
810.322020630
10.91235739.30
Ba
2020
52124.82
0.59%
b
2020
22533.35
0.15%
c
2020
77.13
d
2020
106.360.27%e
112.220.81%
f
231.45094.36%g
1001.16%
h ST
2020ST
STST
ST10.89ST0.001% i Enablence Technologies
2014124Enablence TechnologiesSUBSCRIPTION AGREEMENT201516EnablenceTechnologies1,8002702016127Enablence TechnologiesSUBSCRIPTION AGREEMENT201622Enablence Technologies7,700462Enablence Technologies 9,500
Enablence Technologies14.80%j
A
7,0007,000—7,0007,000—
BC
董事會報告
(%)—2019/9/162021/6/18196,739.6146,516.64160,699.16—82,557.092.01%(156.49)—2019/11/152021/3/15269,892.4951,347.66254,047.11—67,193.041.63%(127.37)—2020/1/92021/5/1335,797.7554,726.9239,486.72—51,037.951.24%(96.74)
—2019/8/192022/12/26979,575.89405,645.751,048,117.71—337,103.938.19%(639.08)———1,482,005.74558,236.971,502,350.70—537,892.0113.07%(1,019.68)
2019327 20192020327
2020201953020182020619201920201.2.3.4.5.
0.80.70.1
?
5,10810,359,2962,936,2169,280,2711,768,9201,752,422 3,0001,859,6221,806,893—583,660577,524 13,157.89478,226,5064,873,4206,024,545332,836330,820 99,50019,208,134744,6164,758,410(344,133)(381,556)
30%100.72%
164.24%
240.88%
196.54%
11 41—
董事會報告
2020201934,969.674.1%32,485.272.8%
4,816.610.2%4,700.010.5%7,413.215.7%7,424.016.7%47,199.4100.0%44,609.2100.0%
2020201931,751.267.3%27,421.761.5%
6,923.114.7%7,807.717.5%2,522.75.3%2,715.36.1%6,002.412.7%6,664.514.9%47,199.4100.0%44,609.2100.0%202047,199.45.8%31,751.215.8%15,448.2
10.1%
2020
20207.6%5G2020
2.5%
(1)(2)
20202019
22,547.264.5%18,665.957.5%3,483.572.3%3,059.965.1%5,733.777.3%6,332.585.3%31,764.467.3%28,058.362.9%
2020201912,422.435.5%13,819.342.5%1,333.127.7%1,640.134.9%1,679.522.7%1,091.514.7%15,435.032.7%16,550.937.1%202031,764.413.2%
2020
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14.7%
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18.6%
20206,637.46,471.92.6%
5G
14.1%14.5%0.4
董事會報告
20203,940.64,025.7
2.1%
8.3%9.0%0.7
20202,474.72,767.010.6%
5.2%6.2%1.0
2020279.11,416.180.3%
202069.884.1
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A
董事會報告
202063020191231
229.5252.2
38,510.836,530.9
20206302019123116,905.226,738.021,835.110,045.120206306,935.71,084.5
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2020
2019
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20204
2020 1 2020
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5G5905G
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5G5G5G
5G
董事會報告
(1)
GDPRGeneral Data Protection Regulation
(2)
(3)
(4)
(5)
重要事項
2020
(1) 2019
20202020(2)(3)
(4)
202061920192020619(http://www.cninfo.com.cn)
2019 3 202011630
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2020630
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—
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201766A201766A2017
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A
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1 2015
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2017
20191010
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A
2019A2020814A
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201112142011521,000—SMSPATES
20139132013624,000201310234,000
20139132013621,50020139111,500201735
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201618201605
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(B2)212,109.00(B3)699,742.42
(B4)296,381.29
重要事項
6,000.520153136,000.5
6,00020151229—
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215.3320121114
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6,000225
315.25
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0(2)BDH1,075.38201755BDH13 NetasNeta?
1.39
Neta?BDHNeta? Bili?im320.16Neta?Neta?Bili?imBDH29.82
1,0002019320
8,00020196420206
10,00020205717 202063017.070317.954
10.000494357
重要事項
2020828
?
(1)
a. 20041119
b. 20181312018A
c. 201987A
AA36
(2)
20071210
5% 2 2018A
20181312018A
?
?
?
?
?
202034
5.1%202034
?
?
重要事項
?
?
?
?
?
股份變動及股東情況
20191231—2020630493,5220.01%+381,185,042———+381,185,042381,678,5648.27%
—————————
——+43,032,108———+43,032,10843,032,1080.93%
——+338,066,860———+338,066,860338,066,8607.33%——+338,066,860———+338,066,860338,066,8607.33%—————————
———————————————————————————5493,5220.01%+86,074———+86,074579,5960.01%4,227,036,34799.99%+4,719,921———+4,719,9214,231,756,26891.73%13,471,533,81382.12%+4,719,921———+4,719,9213,476,253,73475.35%
—————————3H755,502,53417.87%—————755,502,53416.38%
—————————4,227,529,869100.00%+385,904,963———+385,904,9634,613,434,832100.00% A381,098,96820174,805,995A
A385,904,963
20191231
A
A
A
2020630A
— 2
——43,032,10843,032,108
—
——43,032,10843,032,108
—
——43,032,10843,032,108
——43,032,10843,032,108
——43,032,10843,032,108
——42,204,56742,204,567
——18,205,89218,205,892
——7,447,8647,447,864
——6,620,3246,620,324
——6,620,3246,620,324
——84,839,45784,839,45712493,522—86,074579,596
——493,522—381,185,042381,678,564——1 A202024202024122 2017A
75%
股份變動及股東情況
1 2017761,99614,960.12AA
2017720037050JLC2
20174,805,995A4,805,995201766A662 202011510A
30.21381,098,96811,512,999,823.28
A202024
2020630513,906A513,585H321
5%10
1 23.40%1,077,531,700A–69,279,900—98,667,983
2,038,000
H——
16.31%752,327,016H+15,630—
1.38%63,869,835A
–3,998,471—4 1.27%58,524,205A+42,204,56742,204,567
—
5G
1.27%58,362,288A+36,897,586—6 1.14%52,519,600A——7 0.93%43,032,108A+43,032,10843,032,1088 0.93%43,032,108A+43,032,10843,032,108
—
0.93%43,032,108A+43,032,10843,032,108
— 0.93%43,032,108A+43,032,10843,032,108
—
0.93%43,032,108A+43,032,10843,032,108
11,077,531,700A
2,038,000H2752,327,016H363,869,835A
— 5G58,362,288A552,519,600A641,516,065A
—
—
— 005L-FH00226,377,623A819,073,940A
— 18,070,440A1016,319,638A
1.2.
1 2,038,000H2 2018122098,667,983A202032520207142020326
20207153 H
2,038,000H4 A
6 5%— 1,079,569,70023.40%
–69,279,9001,077,531,700A01,077,531,70098,667,983
02,038,000H02,038,000 20204220204748,913,100A2020622
20,366,800A20206301,079,569,70020207144,089,500A
1,035,480,20022.44%1010 ?
股份變動及股東情況
199342991440300192224518G10,000
20174
2.5%
34%14.5%49%2.5%932433.33%22.22%
44.45%
196519,85312100000H0420141X7
19898171,79591440300192175031U
199210231,0009144030027941498XF
2016122591440400MA4W1GHE5H
2020630
34%
14.5%49%2.5%
23.40%
1,035,480,20022.44% 4 10%
2020630336
5%
(%)1,077,531,700 A(L)23.36%(L)27.93%(L)1,077,531,700 A(L)23.36%(L)27.93%(L)1,077,531,700 A(L)23.36%(L)27.93%(L)1,077,531,700 A(L)23.36%(L)27.93%(L)1,077,531,700 A(L)23.36%(L)27.93%(L)BlackRock, Inc.44,814,284 H(L)0.97%(L)5.93%(L)
2,592,480 H(S)0.06%(S)0.34%(S)Citigroup Inc.
41,198,644 H(L)0.89%(L)5.45%(L)
1,898,600 H(S)0.04%(S)0.25%(S)36,816,391 H(P)0.80%(P)4.87%(P)Capital Research andManagement Company
38,410,000 H(L)0.83%(L)5.08%(L)(L)— (S)— (P)—
20206304,613,434,832A3,857,932,298H755,502,534
2020630
董事、監事及高級管理人員情況
A
A
A A1563/20193/2022—————2483/20193/202242,00042,000—84,00034/20193/20223483/20193/2022—————4533/20193/2022—————4/20193/20225543/20193/2022—————6563/20193/2022—————7473/20193/2022—————8563/20193/2022—————
556/20203/2022—————10Yuming Bao
483/20196/2020—————11573/20193/2022495,803——495,803—12453/20193/202250,927——50,927—13593/20193/2022—————14453/20193/2022—————15463/20193/2022—————16464/20193/202241,50045,966—87,466317424/20193/202227,80026,800—54,600318459/20193/2022—————19447/20193/2022————————————658,030114,766—772,796—
2 Yuming Bao20204102019
20206192019202061920223293 2017A4 H
A
201882021820188202182018820218
1 202062 20201202033 20201202064 202015 2020120206
20206
董事、監事及高級管理人員情況
6 20204202057 202068 20205
Yuming Bao2020410
Yuming Bao202041320206192019
202232920206192019
20206302020630XV
202063018
合併資產負債表
202063020191231
145,867,99733,309,34721,066,532560,662331,147106,0654A16,898,23019,778,2804B3,987,3862,430,3894A252,220308,7105445,058402,5256891,4181,023,271737,179,09227,688,508810,203,5339,537,850208,430,6377,421,567
125,253,250102,567,17493,110,9702,819,6069310,393200,671102,292,4522,327,288111,530,2321,594,254121,960,8641,957,2421310,314,5059,383,48814845,1741,171,71615986,3621,063,781168,257,7557,718,820171,829,0461,876,40918186,206186,206192,472,6412,511,372206,082,5145,824,108
40,179,11438,634,961
165,432,364141,202,135
合併資產負債表（續）
202063020191231
2116,619,17726,645,9664A254,444310,02422131,527126,22323A8,659,7829,372,94023B26,907,62218,355,610248,000,000—2514,562,03414,517,057268,169,8548,954,00527851,788888,848285,101,2674,621,118292,008,7301,966,46430718,638612,261
91,984,86386,370,5163121,835,07610,045,0939310,727200,85832660,325645,294
142,296144,5053,107,3532,656,02419139,938172,060332,974,9913,013,487
29,170,70616,877,321121,155,569103,247,837
合併資產負債表（續）
202063020191231
344,613,4354,227,5303523,272,24512,144,43236(2,120,052)(2,000,980)372,775,5212,775,5213812,614,96711,680,365
41,156,11628,826,868
—6,252,3643,120,6792,875,06644,276,79537,954,298165,432,364141,202,135
合併利潤表
20201–620191–
4047,199,37344,609,219 4031,418,30327,119,296 41311,846595,289 423,940,5954,025,746 432,265,1262,538,508 446,637,3766,471,866 45632,833662,809 847,922823,053
581,860322,233 46860,171860,800 4730,257315,397 (63,816)(158,146)
(69,797)(84,063) 48377,724(142,604) 49(279,143)(1,416,091) 50(141,703)(469,998)
2,840,6002,343,209 5155,65974,308 5155,288180,040
2,840,9712,237,477 53517,590412,914
2,323,3811,824,563
2,323,3811,824,563
1,857,2891,470,69916,236172,867449,856180,997
合併利潤表（續）
20201–620191–
(115,505)51,07736(119,072)51,829
————
(119,072)51,829
(119,072)51,8293,567(752)2,207,8761,875,640 1,738,2171,522,528 16,236172,867 453,423180,245
540.400.35
540.400.35
合併股東權益變動表
20201–
4,227,53012,144,432(2,000,980)2,775,52111,680,36528,826,8686,252,3642,875,06637,954,298
——(119,072)—1,857,2891,738,21716,236453,4232,207,876
1. 385,90511,203,859———11,589,764—15,09811,604,8622.
—5,252———5,252——5,2523.———————(90,574)(90,574)4.—(1,298)———(1,298)—(5,212)(6,510)5.—(80,000)———(80,000)(5,920,000)—(6,000,000)1.————(922,687)(922,687)(348,600)(127,122)(1,398,409) 4,613,43523,272,245(2,120,052)2,775,52112,614,96741,156,116—3,120,67944,276,79520191–
4,192,67211,444,456(2,047,561)2,324,7486,983,26122,897,5766,252,3643,810,73532,960,675
——51,829—1,470,6991,522,528172,867180,2451,875,6401.—43,434———43,434—111,917155,3512.
—150,266———150,266——150,2663.———————(584,836)(584,836)4.—(93,494)———(93,494)—(24,790)(118,284)1.——————(348,599)(273,581)(622,180) 4,192,67211,544,662(1,995,732)2,324,7488,453,96024,520,3106,076,6323,219,69033,816,632
合併現金流量表
20201–620191–
51,930,17843,797,6821,970,0192,853,1122,686,2492,912,41356,586,44649,563,20736,597,28830,226,06511,013,0408,740,8203,543,5005,289,8793,391,8484,039,82654,545,67648,296,590562,040,7701,266,617
1,342,8171,227,875
214,682101,5577,89814,593377445,90755245,000—1,810,7741,789,9322,722,8694,263,0606,702,118194,9015533,7092,200,000
9,458,6966,657,961(7,647,922)(4,868,029)11,557,5244,57012,0004,57035,976,26623,776,919553,00026,280
47,536,79023,807,76926,178,82012,468,0446,000,000—1,157,0631,661,520141,424273,58155270,570652,159
33,606,45314,781,72313,930,3379,026,046146,02777,9158,469,2125,502,54928,505,80021,134,1115636,975,01226,636,660
資產負債表
202063020191231
28,823,19413,001,41227,151103,889120,417,33524,893,537
3,690,3731,980,7981229,167230,035
17,0957,559230,506,24532,126,268
24,867,24619,692,9145,098,8684,460,9774,172,7333,516,370117,849,407100,013,75938,174,6747,736,8773252,084200,671412,216,46612,270,582
725,501725,1251,565,1821,562,3806,090,3475,717,601243,835154,636516,598534,9883,079,0063,064,383479,319479,3201,018,3291,063,8384,959,0034,749,55439,320,34438,259,955157,169,751138,273,714
資產負債表（續）
202063020191231
9,426,54611,729,902229,438230,323123,319115,81112,773,70819,363,81538,226,03429,734,9838,000,000—8,808,0859,347,1624,189,9575,223,312219,48497,73520,542,38521,362,4741,790,9021,786,167199,692309,489104,529,55099,301,17316,449,7097,550,990252,418200,858356,393337,764142,296144,505706,980849,3202,376,8252,393,46820,284,62111,476,905124,814,171110,778,0784,613,4354,227,53021,125,8369,996,674696,439696,4672,113,7652,113,7653,806,1054,208,83632,355,58021,243,272
—6,252,36432,355,58027,495,636157,169,751138,273,714
利潤表
20201–620191–
543,309,43439,475,276 537,477,58932,290,242 95,051344,033 2,256,3042,138,680 1,884,9142,071,946 553,0721,935,014 389,750542,245 601,126475,331
261,988108,109 218,10127,253 680,218113,190 6(56,186)(98,657) 6(7,504)(21,067) (85,498)(82,272) (117,831)(1,330,901) (116,972)(392,017)
630,772(1,511,631) 35,54638,226 20,785106,330
645,533(1,579,735) 109,341(58,586)
536,192(1,521,149)
536,192(1,521,149)
519,956(1,694,016)16,236172,867
(28)(1,067)
——
(28)(1,067)
536,164(1,522,216)
519,928(1,695,083)
16,236172,867
股東權益變動表
20201–
4,227,5309,996,674696,4672,113,7654,208,83621,243,2726,252,36427,495,636
——(28)—519,956519,92816,236536,164
1. 385,90511,203,910———11,589,815—11,589,8152.
—5,252———5,252—5,2523.—(80,000)———(80,000)(5,920,000)(6,000,000)1.————(922,687)(922,687)(348,600)(1,271,287) 4,613,43521,125,836696,4392,113,7653,806,10532,355,580—32,355,58020191–
4,192,6729,244,984704,6861,662,992(3,101,864)12,703,4706,252,36418,955,834
——(1,067)—(1,694,016)(1,695,083)172,867(1,522,216)1.
—150,266———150,266—150,2661.——————(348,599)(348,599) 4,192,6729,395,250703,6191,662,992(4,795,880)11,158,6536,076,63217,235,285
現金流量表
20201–620191–
46,987,38144,767,5631,449,0172,072,501
807,272973,06049,243,67047,813,12445,214,32534,880,7323,479,0492,659,160924,6552,366,0212,235,1722,588,94251,853,20142,494,855(2,609,531)5,318,269861,230611,8513,792,067240,3115,58610,2583,125,000—7,783,883862,4201,039,3653,065,4204,040,60070,7356,050,0002,200,00011,129,9655,336,155(3,346,082)(4,473,735)11,545,524—27,079,64512,387,16638,625,16912,387,16612,664,2679,468,566
6,000,000—
856,609818,77571,49261,37819,592,36810,348,71919,032,8012,038,44785,535(18,497)13,162,7232,864,48410,032,69210,147,94623,195,41513,012,430
199710619971118
2020828
—
1.
20206302020
2.
1112313.
4.
5.
6.
7.
8.
9.
(1)(2)
(a)(b)
9.
9.
9.
9.
10.
11.
—
—
11.
12.
13.
—
–505%1.90%–
3.17%
–55%19%–32%
–105%9.5%–19%
–105%9.5%–19%55%19%
14.
15.
(1)(2)(3)
(1)(2)
16.
–
–
–
–
–
17.
(1)(2)(3)
18.
19.
20.
20.
(1)
(2) (1)
(3) (1)
21.
22.
(1)(2)(3)
22.
(1)(2)
(1)(2)
23.
24.
(1)
(2)
(1)(2)
24.
25.
25.
(1)(2)
(1)(2)
30,000
25.
(1)
(2) 2021630
(3)
(1)(2)
25.
(1)
(2) 20
26.
27.
28.
29.
30.
(1)(2)
(3)
30.
30.
30.
20206301,960,864201912311,957,242
EV/EBITP/BP/E
30.
—
–
1.
—13%5%6%9%—————2008112.
2017–201915%20201–615%20202020
202010%
2019–202115%
202010%202010%202010%202015%
202010%2018–202015%
2.
202012.5%
2017–201915%20201–615%20202020
202012.5%2019–202115%202010%
2017–201915%20201–615%20202020
2017–201915%2020
–615%20202020
2017–201915%20201–615%20202020
2017–201915%2020
–615%20202020
1.
202063020191231
2,5842,26943,748,63629,963,5672,116,7773,343,51145,867,99733,309,34720206303,657,931201912313,902,21962,9102019123120,962
6,776,208201912311,460,0362.
202063020191231
996,395523,22770,13737,4351,066,532560,6623.
202063020191231
31,147106,065A-80,67120191–
23,278
4A.
–
202063020191231117,143,82120,889,919122,170,8564,353,567233,113,6911,956,29834,722,4895,678,746
27,150,85732,878,53010,252,62713,100,25016,898,23019,778,280202063020191231(%)(%)(%)(%)4,240,417164,240,417100—7,001,590217,001,590100—
22,910,440846,012,2102616,898,23025,876,940796,098,6602419,778,28027,150,85710010,252,6273816,898,23032,878,53010013,100,2504019,778,2802020630
1*433,534433,534100%2*316,785316,785100%3*298,557298,557100%4*231,529231,529100%5*136,975136,975100%640*2,823,0372,823,037100%
4,240,4174,240,417100%*
4A.
20191231
1*597,986597,986100%2*578,775578,775100%3*563,352563,352100%4*428,987428,987100%5*426,086426,086100%6*299,436299,436100%7*285,746285,746100%8*280,176280,176100%9*226,802226,802100%10*155,666155,666100%11*140,761140,761100%12*121,161121,161100%1348*2,896,6562,896,656100%
7,001,5907,001,590100%*
202063020191231
(%)
(%)
–614,179,0563425,68016,601,9104582,539
–121,916,2119173,5392,581,09610249,165121,809,94836652,0641,637,21736581,713231,156,93979912,6411,653,697781,282,22333,848,2861003,848,2863,403,0201003,403,020
22,910,4406,012,21025,876,9406,098,660
4A.
47,65420191–
67,1712,979,03620191–61,084,580
2020630
13,100,725205,845(3,174,252)120,91410,253,23213,100,250205,715(3,174,252)120,91410,252,627288(17)——
187147——
20191231
12,386,9321,775,689(1,359,859)297,96313,100,72512,381,9831,780,163(1,359,859)297,96313,100,2502,853(2,565)——
2,096(1,909)——
2020630
12,176,5638.02%34,87321,678,0156.18%31,46731,570,9305.79%509,2424860,2273.17%19,6105533,4401.96%533,440
6,819,17525.12%1,128,632
4A.
20191231
12,690,4948.18%45,79522,128,7666.47%37,67131,885,5895.74%497,93041,158,5923.52%28,1785727,2062.21%29,397
8,590,64726.12%638,9716,266,043201912317,501,23469,79720191–684,063
4B.
2020630201912313,225,4331,749,294761,953681,0953,987,3862,430,389
4B.
2020630201912311,837,326—1,125,08816,9861,429,924—884,55062,8303,267,250—2,009,63879,816
20206301,9361,013—2,949201912312,455—
(519)1,936
5.
2020630201912311445,058100%402,525100%2020630
117,1053.84%213,0802.94%311,4782.58%411,1012.49%59,9922.25%
62,75614.10%
5.
20191231
125,5266.34%223,1475.75%313,9663.47%413,4393.34%512,4333.09%
88,51121.99%6.
202063020191231
28,1888904,0143,081859,2161,019,300891,4181,023,271
202063020191231
28,188890
202063020191231
4,0143,081
6.
2020630201912311533,839664,60512362,746417,7712339,53472,726383,217104,335
1,019,3361,259,437
(160,120)(240,137)859,2161,019,300
202063020191231
273,339192,992585,877826,308859,2161,019,3002020630
156,6465.56%(56,646)100%246,2094.53%(46,209)100%336,2173.55%——422,7512.23%——520,5912.02%——182,41417.89%(102,855)
6.
20191231
1110,9108.81%(110,910)100%256,8344.51%(56,834)100%345,6383.62%(45,638)100%433,7152.68%——525,7682.05%——272,86521.67%(213,382)
–
745,99712
—239,310240,137——63,59563,595(241)—
(189)(430)
——(143,182)(143,182)2020630586—159,534160,120
7.
20206302019123110,628,136772,2229,855,9146,092,323805,2585,287,065
7,8221327,69013,47913113,3482,290,32932,5032,257,8261,201,24713,0121,188,2353,497,417478,1593,019,2583,101,870529,0992,572,77114,643,3711,965,80812,677,56312,600,2551,878,02610,722,22910,417,4131,056,5729,360,8418,943,8821,039,0227,904,86041,484,4884,305,39637,179,09231,953,0564,264,54827,688,508
20201–
4,264,548290,376(225,817)(23,711)4,305,396 2019
3,199,2721,476,827(373,364)(38,187)4,264,548
8.
20206302019123110,653,477(449,944)10,203,5339,987,937(450,087)9,537,850
20201–6450,0874,382(90)(4,435)449,944
2020630
224,848100%224,84810,428,6292.16%225,09610,653,4774.22%449,944
20191231
320,832100%320,8329,667,1051.34%129,2559,987,9374.51%450,087
9.
2020630201912313,182,0992,887,559
71,12967,9533,110,9702,819,606
202063067,9534,738(1,562)71,1292019123130,29737,46619067,953
4.50%
–
7.81%
4.54%
10.
202063020191231
(1)108,309122,904
(2)3,211,8973,231,288
1,027,7541,026,9042,292,4522,327,288 2020630(1)
Bestel Communications Ltd.50%—————————(2,255)50%45,706——(5,567)————40,139—PengzhongXingsheng50%——(6,134)————6,134——49%21,809——(2,894)————18,915—10%7,000———————7,000—
40%40,000———————40,000—114,515—(6,134)(8,461)———6,134106,054(2,255)
10. 2020630(2)
KAZNURTEL Limited LiabilityCompany49%—————————(2,477)
23.26%426,769
——11,954————438,723—30%3,764——(3,764)——————Telecom Innovations32.73%—————————(11,216)
18%1,324——(1,324)——————33%—————————(4,764)30%2,181——(1,053)————1,128—23%2,862——(384)————2,478—INTLIVE TECHNOLOGIES
(PRIVATE) LIMITED49%—————————(7,117)35%1,097—(1,278)————
——20%2,000———————2,000—30%742——(114)————
—
30%12,192——(3,796)————8,396—39%4,862——(175)————4,687—29%26,782——(72)————26,710New Idea Investment Pte. Ltd20%7,163———
——(7,165)—(14,551)19%—————————(37,248)
21.26%2,860
——
————3,090—30%52,446———————52,446—
9.31%5,024
——(200)————4,824—
12.5%2,054
——
————2,152—Laxense,lnc.18.7%16,300——
(180)415
———16,535—28%1,935——(103)————1,832—Kron Telekomunikasyon
Hizmetleri A.S.10%10,560———
—(581)—10,109—10%1,069———————1,069—
26.21%
—————————(13,428)
49.9%644,000
——(46,799)————597,201(934,698)25%5,399——
————5,757—
29.91%901,674
——1,486————903,160—12%32,080——(7,122)————24,958—40%45,634——(4,665)————40,969—15%—1,500—(102)————1,398—35%—1,400——————1,400—
45.9%
—34,748——————34,748—2,212,77337,648(1,278)(55,727)547—
(581)(6,984)2,186,398(1,025,499)
10. 2019(1)
Bestel Communications Ltd.—————————(2,255)57,234——(11,528)————45,706—PengzhongXingsheng6,138——(4)———(6,134)—(6,134)27,278——(5,469)————21,809—7,000———————7,000—
—40,000——————40,000—97,65040,000—(17,001)———(6,134)114,515(8,389)(2)
KAZNURTEL Limited LiabilityCompany—————————(2,477)426,995——(226)————426,769—3,947——(183)————3,764—Telecom Innovations—————————(11,216)
1,790——(466)————1,324——————————(4,764)4,360——(2,179)————2,181—2,927——(65)————2,862—INTLIVE TECHNOLOGIES
(PRIVATE) LIMITED—————————(7,117)3,856——(2,578)———
(181)1,097(181)
2,000———————2,000—1,314——(572)————
—*7,290—(7,290)———————
13,902——(1,710)————12,192—4,634——
————4,862—**73,579—(66,054)(7,907)382—————26,134——
————26,782—New Idea Investment Pte. Ltd6,930——
(53)748
——
(462)7,163(7,386)
—————————(37,248)3,876——(1,016)————2,860—52,446———————52,446—4,1331,198—(307)————5,024—
2,010——
————2,054—Laxense, lnc.16,280——
(276)296
———16,300—2,261——(326)————1,935—Kron Telekomunikasyon
Hizmetleri A.S.9,485—
(376)1,227224
———10,560—1,069———————1,069—
***14,697——(1,269)———(13,428)—(13,428)1,281,524——(637,524)————644,000(934,698)8,587——(3,188)————5,399—893,341——9,744—(1,411)——901,674—48,278——(16,198)————32,080——45,634——————45,634—2,917,64546,832(73,720)(664,152)1,650(1,411)—(14,071)2,212,773(1,018,515)
10.
2020630
Bestel Communications Ltd.2,255——2,255PengzhongXingsheng6,134—(6,134)—KAZNURTEL Limited Liability Company2,477——2,477Telecom Innovations11,216——11,2164,764——4,764INTLIVE ECHNOLOGIES (PRIVATE) LIMITED7,117——7,117
—(181)—New Idea Investment Pte. Ltd7,3867,165—14,55137,248——37,24813,428——13,428934,698——934,6981,026,9047,165(6,315)1,027,754 20191231
Bestel Communications Ltd.2,255——2,255PengzhongXingsheng—6,134—6,134KAZNURTEL Limited Liability Company2,477——2,477Telecom Innovations11,216——11,2164,764——4,764INTLIVE TECHNOLOGIES (PRIVATE) LIMITED7,117——7,117—
—
New Idea Investment Pte. Ltd6,924462—7,38637,248——37,248—13,428—13,428934,698——934,6981,006,69920,205—1,026,904
11.
2020630201912311,530,2321,594,254
12.
2020630
1,957,242483,622
1,960,864
20191231
2,011,999
(62,000)487,243
1,957,242
20206301,720,745201912311,717,567
13. 2020630
7,376,29640,4415,533,7233,164,125281,759362,77216,759,11619,121—712,755400,59515,19814,7961,162,465525,819—30,60721717413556,830(10,946)—(482,398)(193,201)(16,044)(29,836)(732,425)(15,227)(10,302)(1,833)502(3,027)(2,396)(32,283)7,895,06330,1395,792,8543,372,238278,060345,34917,713,7031,853,492—3,313,0051,775,221169,974222,6777,334,369137,804—347,510125,00711,81826,817648,956(1,697)—(416,765)(157,224)(13,713)(19,473)(608,872)(5,644)—
(956)707(1,478)(2,425)(9,796)1,983,955—3,242,7941,743,711166,601227,5967,364,65721,270—1,88616,9261,0968141,259——
(638)(5,094)(1,096)—(6,828)——
——111021,270—1,35711,832—8234,5415,889,83830,1392,548,7031,616,695111,459117,67110,314,5055,501,53440,4412,218,8321,371,978110,689140,0149,383,488 20191231
7,293,99641,3394,895,5062,992,242287,672356,49915,867,254148,248—1,266,629133,46521,86826,7511,596,961191,860—33,583256,90981,226483,586(259,479)—(661,791)(222,717)(27,809)(26,689)(1,198,485)1,671(898)(204)4,226204,9859,8007,376,29640,4415,533,7233,164,125281,759362,77216,759,1161,686,740—3,120,2851,744,448166,323210,0376,927,833307,307—673,970235,88625,14325,1111,267,417(142,527)—(481,091)(208,930)(21,512)(14,012)(868,072)1,972—
(159)3,817201,5417,1911,853,492—3,313,0051,775,221169,974222,6777,334,36921,270—1,94716,9591,0968141,353——
(41)(33)
——(74)——(20)———(20)21,270—1,88616,9261,0968141,2595,501,53440,4412,218,8321,371,978110,689140,0149,383,4885,585,8641,3391,773,2741,230,835120,253146,3818,898,06820206302,081,791201912312,929,703
14.
2020630
(%)978,070261,56861,607——323,17533.04%578,333526,79510,122525,757—11,16092.84%478,00075,81039,627——115,43735.55%265,0123,957353217—4,09399.26%699,64050,71216,904——67,6169.66%774,200129,47117,150——146,62118.94%123,40384,52530,856—177,0721,171,716230,288556,830—845,17420191231
(%)1,017,93211,35719,91531,272——
100.00%
119,100108,24831,350139,598——
100.00%
978,070224,48837,080——261,56826.74%236,0204,492—4,492——
100.00%
892,530391,436135,359——526,79559.02%478,00031,35744,453——75,81027.26%518,460220,89641,793258,732—3,95789.19%699,64059,24033,808—42,33650,7127.25%774,20091,39838,073——129,47116.72%153,13280,52749,49260,764123,4031,296,044462,358483,586103,1001,171,716202063020191231
15. 2020630
1,395,884110,319123,5551,629,758
139,3192,8527,890150,061(97,138)(20,335)(52,257)(169,730)59,69741,483—101,1801,497,762134,31979,1881,711,269437,12732,80496,046565,977219,18544,32512,656276,166(97,138)(20,335)(52,257)(169,730)23,37429,120—52,494582,54885,91456,445724,907915,21448,40522,743986,362958,75777,51527,5091,063,781 20191231
902,64240,7368,886952,264427,60780,424114,356622,38765,635(10,841)31355,1071,395,884110,319123,5551,629,758385,20843,62196,039524,86851,919(10,817)741,109437,12732,80496,046565,977958,75777,51527,5091,063,781902,64240,7368,886952,264
16.
2020630
707,951157,5172,733,1481,152,93412,145,78616,897,336150,1575,721194,939107,609—458,426————1,160,0561,160,056(55,567)(5,943)—(65)—(61,575)4,271——6,441—10,712806,812157,2952,928,0871,266,91913,305,84218,464,955206,494149,587321,658746,3497,676,5689,100,656117,1195,48634,575124,325791,2741,072,779(46,698)(3,113)———(49,811)2,857——1,725—4,582279,772151,960356,233872,3998,467,84210,128,20614,300—6,32257,238—77,860
——
—1,13414,506—6,32258,166—78,994512,5345,3352,565,532336,3544,838,0008,257,755487,1577,9302,405,168349,3474,469,2187,718,820 20191231
630,241187,4805,307,9741,026,6959,026,47616,178,866232,20712,14267,466183,743—495,558————3,128,5263,128,526(157,219)(42,105)(2,642,292)(56,310)(9,216)(2,907,142)2,722——(1,194)—1,528707,951157,5172,733,1481,152,93412,145,78616,897,336206,007116,867281,096597,5316,340,9797,542,480144,55648,90593,333204,1911,337,3721,828,357(145,782)(16,185)(52,771)(56,283)(1,783)(272,804)1,713——
—2,623206,494149,587321,658746,3497,676,5689,100,65614,338—6,32257,238—77,898(38)————(38)14,300—6,32257,238—77,860487,1577,9302,405,168349,3474,469,2187,718,820409,89670,6135,020,556371,9262,685,4978,558,488
16.
20206301,057,726201912311,107,753
202063059%2019123158%17.
2020630
32,05728,731(39,361)(1,626)19,8011,844,3521,107,329(1,120,695)(21,741)1,809,2451,876,4091,136,060(1,160,056)(23,367)1,829,046 20191231
29,44872,388(61,582)(8,197)32,0572,702,9082,252,070(3,066,944)(43,682)1,844,3522,732,3562,324,458(3,128,526)(51,879)1,876,409
18.
2020630
186,206——186,20633,500——33,500NETAS TELEKOMUNIKASYON A.S.89,763——89,763309,469——309,469 20191231
186,206——186,20633,500——33,500NETAS TELEKOMUNIKASYON A.S.89,763——89,763309,469——309,469
2020630
————33,500——33,500NETAS TELEKOMUNIKASYON A.S.89,763——89,763123,263——123,263
18. 20191231
————33,500——33,500NETAS TELEKOMUNIKASYON A.S.89,763——89,763123,263——123,263
2019?
201919.
202063020191231
2,084,530487,4641,932,855423,7051,210,312245,4331,177,002241,6361,598,814239,7661,598,838239,8262,604,313287,2712,532,673284,946246,42739,465276,37443,957203,30032,304205,50932,6354,822,457729,5614,884,984738,9403,413,908452,0403,475,772464,503906,869136,030864,384129,658312,95846,944320,13048,0191,111,273164,6421,107,399166,11018,515,1612,860,92018,375,9202,813,935
19.
202063020191231
1,090,898163,6351,087,549163,132523,171118,293308,76063,757
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202063020191231
388,2792,472,641302,5632,511,372
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20.
2020630201912318,362,6107,359,67068,02761,8978,430,6377,421,567
202063020191231
713,499714,225189,09559,285359,281359,28112,919,2072,869,525
241,137173,2691,660,2951,648,5236,082,5145,824,1081 221.
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16,619,17726,645,96620206300.80%–
10.50%8.50%–
10.50%201912311.10%
–
27.66%9.75%–
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1 10,000
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50,00048,79315,30530,0002019123165,000
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202063020191231
131,527126,223
23A.
2020630201912314,142,2304,763,5104,517,5524,609,4308,659,7829,372,94023B.
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26,907,62218,355,610
202063012019123124.
2020630201912318,000,000—8,000,000—
24.
2020630
2,000,0002020/3/262702,000,000—2,000,0002.4%12,625——2,000,0001,000,0002020/4/222401,000,000—1,000,0001.9%3,592——1,000,0001,000,0002020/4/212401,000,000—1,000,0001.8%3,452——1,000,0001,000,0002020/5/25901,000,000—1,000,0001.35%1,332——1,000,0001,000,0002020/5/26901,000,000—1,000,0001.35%1,295——1,000,0001,000,0002020/6/111801,000,000—1,000,0001.63%848——1,000,0001,000,0002020/6/241771,000,000—1,000,0001.65%271——1,000,00025.
20206302019123114,562,03414,517,057
26.
2020630
8,800,73610,862,803(11,644,874)8,018,665143,866309,405(313,958)139,3139,40372,310(69,837)11,8768,954,00511,244,518(12,028,669)8,169,85420191231
6,100,58019,223,455(16,523,299)8,800,736155,1951,236,623(1,247,952)143,8663,864215,810(210,271)9,4036,259,63920,675,888(17,981,522)8,954,005
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2020630
7,322,2419,880,636(10,748,493)6,454,38416,8808,575(14,656)10,79962,202286,883(306,953)42,13255,308268,111(285,930)37,4892,9132,462(4,108)1,2673,98116,310(16,915)3,37622,725324,420(295,944)51,2011,376,688362,289(278,828)1,460,1498,800,73610,862,803(11,644,874)8,018,66520191231
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136,591304,766(304,354)137,0037,2754,639(9,604)2,310143,866309,405(313,958)139,313
26.
20191231
147,6021,203,191(1,214,202)136,5917,59333,432(33,750)7,275155,1951,236,623(1,247,952)143,86627.
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140,567142,296423,464399,124267,403289,990156,061109,134233,546240,32825,40035,07825,77436,0133,03736,009851,788888,84828.
202063020191231
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202063020191231
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28.
2020630201912311,184,3481,003,14649,23651,0662,762,6103,125,9218,3778,299106,511373,1684,111,0824,561,600
29.
2020630
11,619,2161,712,320(1,590,206)1,741,3302166,4912,504(45,091)123,904
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30.
202063020191231
286,00092,053432,638520,208718,638612,261
31.
20206302019123115,602,48915,602,4895,999,8235,999,823
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21,835,07610,045,0931 ZTE (H.K.) Limited201912312 14,8685,000
229,95511,160520,20739,8342019123120,1593 5,732185,37788,01810,973
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–
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202063020191231
660,325645,29433.
202063020191231
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34.
2020630
—43,032——43,03243,032—338,067——338,067338,06749486——86580494381,185——381,185381,6793,471,5344,720——4,7203,476,254755,502————755,5024,227,0364,720——4,7204,231,7564,227,530385,905——385,9054,613,43520191231
3,60182—(3,189)(3,107)4943,60182—(3,189)(3,107)4943,433,56934,776—3,18937,9653,471,534755,502————755,5024,189,07134,776—3,18937,9654,227,0364,192,67234,858——34,8584,227,530
A381,098,968(2020)60438556_H0220174,805,995A35.
2020630
111,774,07611,203,957(81,396)22,896,6372290,35652,162(46,910)295,608
80,000——80,00012,144,43211,256,119(128,306)23,272,245
35.
20191231
10,925,665943,559(95,148)11,774,076438,791191,790(340,225)290,35680,000——80,00011,444,4561,135,349(435,373)12,144,4321 A381,098,96830.2111,513,000202011450,00011,463,0003,581
11,459,4193,03211,462,451381,09911,081,352
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2 2017752,16246,91036.
2019
20191231
2020
(65,678)(7,599)(73,277)—(73,277)
44,350—44,350—44,350(67,982)—(67,982)—(67,982)(2,751,020)54,180(2,696,840)(119,072)(2,815,912)792,769—792,769—792,769(2,047,561)46,581(2,000,980)(119,072)(2,120,052)
20201–
(115,505)——(119,072)3,567
36.
20191–
51,077——51,829(752)37.
2020630
2,775,521——2,775,52120191231
2,324,748(1,441)452,214—2,775,52110%50%
38.
20206302019123111,680,3656,983,261
—1,44111,680,3656,984,7021,857,2895,147,877
—(452,214)(922,687)—12,614,96711,680,365
39.(1)
202063020191231
2015.1.270.05811006,0006,252,3642020.1.27
2015127201560
55.81%
3005(www.chinabond.com.cn)
0.01%6105
30020201272020131(2)
2020630
6,0006,000,000——6,0006,000,000——20191231
6,0006,000,000————6,0006,000,000
40.
20201–620191–
46,122,10130,644,23143,753,05126,502,934
1,077,272774,072856,168616,36247,199,37331,418,30344,609,21927,119,296
20201–620191–
47,130,59144,458,450
— 68,782150,769
47,199,37344,609,219 20201–
26,428,2812,877,7402,376,36131,682,3825,078,1631,140,121704,8186,923,1021,767,785296,463458,5022,522,7501,695,3603,098,8621,208,1356,002,35734,969,5897,413,1864,747,81647,130,5912,977,5657,278,9882,284,17712,540,7305,625,640134,198517,8126,277,65026,366,384—1,945,82728,312,21134,969,5897,413,1864,747,81647,130,59129,343,9497,278,9884,230,00440,852,9415,625,640134,198517,8126,277,65034,969,5897,413,1864,747,81647,130,591
40. 20191–
21,663,7363,526,1012,081,12327,270,9606,195,497673,751938,4807,807,7282,011,499228,684475,1572,715,3402,614,4262,995,4941,054,5026,664,42232,485,1587,424,0304,549,26244,458,4504,666,0957,352,0682,071,49814,089,6616,372,36471,962830,9377,275,26321,446,699—1,646,82723,093,52632,485,1587,424,0304,549,26244,458,45026,015,0717,351,6943,694,97137,061,7366,470,08772,336854,2917,396,71432,485,1587,424,0304,549,26244,458,450
20201–
6,643,60741.
20201–620191–
119,525266,72191,981202,28720,33825,1266,2057,014502032,42529,26341,32264,858311,846595,289
42.
20201–620191–
2,496,8262,389,893452,148330,795223,271304,035117,210102,357112,859118,096337,090381,28546,59536,783154,596362,5023,940,5954,025,74643.
20201–620191–
983,1631,076,70337,33146,357232,439250,20027,61747,649863,329946,831121,247170,7682,265,1262,538,50844.
20201–620191–
4,560,6984,424,193232,602186,369955,618833,663123,215108,909500,842574,527264,401344,2056,637,3766,471,866
45.
20201–620191–
847,922823,05344,96132,66931,643—23,414—581,860322,233257,51059,823109,261102,166632,833662,80920201–6188,06020191–
163,525
20201–620191–
448,939295,065100,02427,16832,897—581,860322,23346.
20201–620191–
1513,313729,764
12,856614334,002130,422860,171860,800
3%
47.
20201–620191–
(63,816)(158,146)
4,4809,2661,2891,17670,47549,382
100,596407,010(12,970)90,772(69,797)(84,063)30,257315,397
48.
20201–620191–
479,288(153,313)(24,515)30,667(80,671)(23,278)3,6223,320377,724(142,604)49.
20201–620191–
205,7151,074,0031,01320463,1652,974
4,738(1,172)
(17)(778)
147(198)4,382341,058279,1431,416,09150.
20201–620191–
134,538469,9987,165—141,703469,998
51.
20201–620191–
20201–
11,31622,53011,31644,34351,77844,34355,65974,30855,659
20201–620191–
20201–
6,602115,7496,60226,61816,97526,61822,06847,31622,06855,288180,04055,28852.
20201–620191–
28,596,53924,638,91310,143,69010,108,5091,980,9971,555,4343,540,1743,852,56044,261,40040,155,416
53.
20201–620191–
510,981529,1346,609(116,220)517,590412,914
20201–620191–
2,840,9712,237,4771710,243585,802
(392,114)(357,861)27,24126,8899,72028,286(44,620)(2,276)(81,776)125,3174,03128,301(5,951)(130,174)290,816108,630517,590412,914
54.
(1)
(2)(3)
(1)(2)
54.
20201–620191–
1,857,2891,470,6994,612,3354,192,672
— 1
22,14330,4404,634,4784,223,112
55.
20201–620191–
581,860322,2331,504,7561,681,6921,472,5181,239,840
—89,298
109,261102,166
245,000——2,200,00033,709—3,00026,28042,315569,400
228,25582,759
56.(1)
20201–620191–
2,323,3811,824,563279,1431,416,091141,703469,998648,956602,416276,166210,9101,055,875742,10826,61816,975(377,724)142,604755,103749,057(30,257)(315,397)38,731(141,356)(32,122)25,137(9,865,735)(2,715,920)926,489(52,537)10,091,211(2,088,462)52,162150,266(4,268,930)230,1642,040,7701,266,617(2)
20201–620191–
2,58473136,972,42826,635,92936,975,01226,636,660
57.
2020630201912312,116,7773,343,5111202,082222,8602617,46349,772311,160344,4724284,827312,4185
— 3,473,1473,288,0916
6,705,4567,561,1241 20206302,116,777201912313,343,511
21,17420191231556,146483,72120191231434,03992,74920191231196,72720191231368,311371,60520191231887,492882,06320191231957,92468,73820191231139,599
2020630257,83320191231198,88468,73820191231139,599189,0952019123159,2852 2020630202,08220191231222,8603 2020630617,4632019123149,772
201912314 202063011,16020191231344,4725 2020630284,82720191231312,418
201912316 20206302,924,771201912312,869,525
359,28120191231359,281189,0952019123159,285
58.
2020630201912311757.07031,2371746.98301,2177300.0548402,3050.0586135
520.438123550.435224660,2937.07034,668,470635,0336.98304,434,438220,8137.95401,756,347167,1287.82711,308,125372,550,2800.0005186,275128,779,8350.000564,6914,236,8850.0421178,3732,713,7500.0450122,1802,259,8460.0657148,4721,612,9270.0642103,5587,3558.703164,0111,6989.165115,559252,8680.203251,383244,3540.219653,65128,2701.651946,69918,7011.697631,747417,9090.101142,251995,7930.1128112,32658,9870.438125,842110,8640.435248,253465,9220.054825,533577,2320.058633,80917,6830.912416,13420,1270.896818,0502,8485.188114,7766,6325.347335,46479,8000.228918,266158,9260.231836,8446,539,8010.001912,4263,696,6970.00217,8776,2261.29128,03915,5141.732626,88077,4530.05854,531307,5070.061218,818526,9740.00874,585431,0370.00934,02011,7477.070383,05521,7736.9830152,038725,5897.07035,130,1321,744,8166.98312,184,04913,516,9870.09361,265,19021,544,8730.09792,109,243126,0327.95401,002,459306,0277.82712,395,300267,5190.228961,235466,3320.2318108,09634,1461.291244,08952,4421.732690,86116,8257.0703118,9588,5426.98359,64910,6457.954084,67019,7817.8271154,82887,517,7440.000543,75965,510,2820.000532,908232,5220.093621,764243,9210.097923,874358,3160.042115,085458,3850.045020,6381,390,8337.07039,833,607328,8906.98302,296,6363,133,152,0440.00051,566,5762,744,341,6710.00051,378,58766,4797.9540528,77495,3427.8271746,2502,515,6020.0936235,4603,231,8740.0979316,325316,4280.306296,890369,4850.3702136,773109,5007.0703774,198166,6796.98301,163,91683,4877.9540664,056124,3167.8271973,03110,1141.885419,0694081.86217591,2668.703111,0181,2909.165111,8236,8541.03337,0826,3681.17557,486740,7027.07035,236,983740,2406.98305,169,096122,7447.9540976,305128,0007.82711,001,869269,0001.0333277,968354,9151.1755417,220830,0007.07035,868,349530,0006.983003,700,990205,0001.0333211,834195,0001.17555229,2323637.95402,8853637.827102,839
1.
20201620201620201202020120
20202272020227
202034202034
20203102020310202059202059
20205122020512
1.
(%)
175,500100%—99,500100%—5,108100%—30,000100%—60,000100%—20,00090%10%2.
%
Bestel Communications Ltd.446,91550%—128,500,00050%— 60,000,00049%—*70,000,00010%— 100,000,00040%—* 10%5
2.
%
KAZNURTEL Limited Liability Company3,000,00049%—1,290,000,00023.26%—15,000,00030%—Telecom Innovations5,050,00032.73%—*30,000,00018%—34,221,64920%—17,909,380
26.21%
—57,680,00030%—20,000,00023%—INTLIVE TECHNOLOGIES (PRIVATE)LIMITED
50049%—10,000,00020%—20,000,00030%—10,000,00030%—30,000,00039%—71,379,00029%—25,487,37021.26%—New Idea Investment Pte. Ltd10,200,000+
20%—*200,000,00019%—20,000,00030%—*30,000,0009.31%—
*
16,000,00012.5%—Laxense, lnc.*2,460,31818.7%—15,000,00028%—Kron Telekomunikasyon Hizmetleri A.S.*
14,268.513
10%—*10,000,00010%—118,748,30049.9%—50,000,00025%—*400,000,00012%—731,074,44229.91%—100,000,00015%—20,000,00035%—50,000,00045.9%—* 20%
2.
2020630201912311,850,2402,222,720230,291268,8272,080,5312,491,547802,5401,116,38991,72986,102894,2691,202,491——1,186,2621,289,056591,945643,2395,256761597,201644,000
202063020191231
106,054114,51520201–620191–
(8,461)(3,363)——(8,461)(3,363)202063020191231
1,589,1971,568,773
2.
20201–620191–
(8,928)(6,716)547478(8,381)(6,238)202063020191231
1.
2020630
—45,867,997—45,867,99731,147——31,1471,066,532——1,066,532—16,898,230—16,898,230—3,110,970—3,110,970—562,613—562,613—585,877—585,877——3,987,3863,987,386—3,467,583—3,467,5831,530,232——1,530,2322,627,91170,493,2703,987,38677,108,567
1.
2020630
131,527—131,527—38,740,25338,740,253—1,092,9631,092,963—8,659,7828,659,782—26,907,62226,907,622—8,000,0008,000,000—565,171565,171
—3,867,6833,867,683—2,142,2052,142,205131,52789,975,67990,107,20620191231
—33,309,347—33,309,347106,065——106,065560,662——560,662—19,778,280—19,778,280—2,819,606—2,819,606—509,381—509,381—826,308—826,308——2,430,3892,430,389—3,288,091—3,288,0911,594,254——1,594,2542,260,98160,531,0132,430,38965,222,383
1.
20191231
126,223—126,223—36,783,11236,783,112—1,165,5021,165,502—9,372,9409,372,940—18,355,61018,355,610—510,882510,882—3,507,3883,507,388—2,117,3962,117,396126,22371,812,83071,939,0532.
2019123179,816
20206302019123141,438
202063016,566,1882019123125,798,167
202063020191231
562,613467,943565,171469,406
2.
2020630562,61320191231509,381
2020630565,17120191231510,882
3,267,250201912312,009,638
32,8912019123127,6303.
3.
??
??????
3.
? 12
?
? 12
4A8
3.
2020630
–
–
—17,036,5597,340,32014,686,33945,85239,109,070—517,200296,179191,212309,4481,314,039—131,527———131,527—8,659,782———8,659,78226,907,622————26,907,622—8,083,679———8,083,679
—252,203152,533144,28516,150565,171
3,867,683————3,867,683—86,26613,5507,0472,038,3732,145,23630,775,30534,767,2167,802,58215,028,8832,409,82390,783,80920191231
–
–
—27,337,4742,254,6127,894,79040,75337,527,629—520,208105,225238,741553,5931,417,767—126,223———126,223—9,372,940———9,372,94018,355,610————18,355,610
—348,86694,74539,91327,358510,882
3,507,388————3,507,388—86,26613,23813,8712,340,9872,454,36221,862,99837,791,9772,467,8208,187,3152,962,69173,272,801
2020630LIBOREuribor
0.75%26.75%13.9720206302019123125%2019123167%
3.
20201–625(50,897)—(50,897)
(25)50,897
—50,89720191–625(12,932)—(12,932)
(25)12,932
—12,932
20201–
5%(19,922)—(19,922)(5%)19,922—19,92220191–
5%514,280—514,280(5%)(514,280)—(514,280)
3.
20201–
5%72,910—72,910(5%)(72,910)—(72,910)20191–
5%144,333—144,333(5%)(144,333)—(144,333)
4.
2020630
20206302019123138,740,25336,783,1121,092,9631,165,5028,000,000—565,171510,88248,398,38738,459,49644,276,79537,954,29892,675,18276,413,794
52.2%50.3%
1.
2020630
—31,147—31,147119,39570,137877,0001,066,532——1,530,2321,530,232—3,988,399—3,988,399——1,960,8641,960,864119,3954,089,6834,368,0968,577,174—(131,527)—(131,527)—(131,527)—(131,527)20191231
—106,065—106,065116,22037,435407,007560,662——1,594,2541,594,254—2,430,389—2,430,389——1,957,2421,957,242116,2202,573,8893,958,5036,648,612—(126,223)—(126,223)—(126,223)—(126,223)
2.
2020630
EV/EBITEV/RevenueP/E
LIBOR2020630
(a)(b)
(c)20206301,960,864201912311,957,242
3.
2020630
1,960,864 51–
2%–5%
0.5%
–
5.9%
7.50%
–
8.25%
2,407,2324%–30%
–
–
11–
20191231
1,957,242 51–
2%–5%
0.5%
–
5.9%
7.50%
–
8.25%
2,001,2614%–30%
–
–
11–
4.
2020630
1,957,242——3,622——1,960,8643,622407,007—(90,971)547,02213,942—877,000547,0221,594,254——11,4697,930(83,421)1,530,232(24,515)3,958,503—(90,971)562,11321,872(83,421)4,368,096526,129
4.
20191231
2,011,999—(62,000)7,243——1,957,2427,24349,05270,581(49,052)336,426——407,007336,4261,502,49960,000(70,581)209,2954,793(111,752)1,594,254157,9613,563,550130,581(181,633)552,9644,793(111,752)3,958,503501,630
20201–620191–
3,6223,3203,6223,3205.
1.
10,00023.40%23.40%
2.
3.
4.
*1
*1 2019112620201126
5.(1)
20201–620191–
3148—1,1232,10310,6841536,092456,384280,655Telecom Innovations285645
2314153,6481,305439207
36639128
7241,186298,016150,450
—
—7,451—1,046—
—5,744—
—650962—
777,158453,989
5.(1)
20201–620191–
—1,06275,86340,08011,4469,38712,0364,49271,21892,59623,23519,4154,85511,1302,1972,1322,2821,8751,2662,13222,84566,01298,24039,4715,9082,6161,747—179,7172,927
—513,407295,327
5.(2)
20201–620191–
—
—
192180208208184185397560
—8,9578,7384,2039,77310,0034,13913,53313,3648859
38,07137,566
20201–620191–
5,1124,697
8677043,9893,8237,2836,1591,8642,0022,1832,359—
21,29819,792(3)
20201–620191–
5,9684,976
5.(3)
(i)(ii)
38,07120191–637,56621,29820191–619,792(iii)
5,96820191–64,97684220191–61,0566.
202063020191231
3,18387,7563,18387,7569,51317,772—
6,7389,515650650902902——95,346157,533178,043180,1253,154730
—
241241
—294,790367,575
6.
202063020191231
—
—Laxense, lnc.2,9263,842
—73,974—78,1283,9154,1694,172909014144,4447,124—
10,8097,27620,59121,76130,18430,0866406401,255—
—
—72,44871,608
6.
202063020191231
804388439,40896439,4512,1996,4948904,32326,5074241831833273271,3122,915
—
192192
838326,42391,282Kron Telekomunikasyon Hizmetleri A.S.—
3632001,62212,062635,461680,225
32,83826,763
—728,595826,120
6.
202063020191231
5,3275,3272,1844,2731,6281,628
155155117,93228,946
—
—
5,5798,361—
4040—
—
2,0251,570134,87450,3961212
310310
INTLIVE TECHNOLOGIES (PRIVATE) LIMITED5,3945,261
2,0002,000
3677819819827227235250656547,88347,88347,26447,264
1,680—
2,062—
—
—
2,5974,053110,777107,450
9,31614,141
1,7792,612
7,37413,22636,8458,716
7,1263562,44038,730
–
7.(1)
202063020191231
89898989
(2)
20201–620191–
—
—
—
1.
20201–620191–
295,608589,057(46,910)—52,162150,2662. 2017
20177620172017761,99614,960.12
5%
2. 2017
17.06
(1) (ROE)(2)
1/32019.7.6–2020.7.52017ROE10%38.25
201710% 1/32020.7.6–2021.7.52018ROE10%38.25
201820% 1/32021.7.6–2022.7.52019ROE10%38.25
201930%1,477,496
20201–
52,162
202063020191231
*
*
17.0644,53217.0681,864
(4,806)(34,858)—(2,474)
17.0639,72617.0644,532
2. 2017
2020630
—
17.06201976202075
39,72617.0620217620227539,72620191231
4,80617.0620197620207539,72617.0620217620227544,53220201–64,805,9954,805,9954,806122,5583435
0.180.180.18(%)43.3542.242.9(%)3.4983.5063.517
5%5%5%5%5%5%
1.
2020630201912313,196,2573,097,02146,24668,2463,242,5033,165,267
2.
2.1. 2012113,135.374,048.43
201327201373,122.434,031.7320161
3,122.434,031.7320164
2016829
2016113,122.434,031.73201722016
20121130158,297.451.07
2.2. BIS2018415
2018415202531320184152018415EAREAR2018415
2018423831764420186BIS201820173BIS2018BIS201868
2018682018141020186842018
20186842018BIS201868
EAR2018201868
2018612
2.
2.2.
2018201720182017(i)
EAR(ii)
SAP(GTS)ECCN
ECCN
2020
202011
2.3. 20181031
(1)2(2)
201949
2.4. 202063012,969,00420191231
13,559,281
1.
20201–620191–
44,96132,66998,266177,029
20201–
32,89732,8972020630209,608
20206302331,824,100
209,6081,614,492
20201–
68,782
1.
202063011135,70412294,15423354,69534450,22745552,3025193,635
580,717
2.
(1)(2)(3)
2.
20201–
34,969,5897,413,1864,747,81647,130,591
——68,78268,78234,969,5897,413,1864,816,59847,199,3739,558,2021,042,922927,50511,528,629
915,830(9,284,563)(632,833)377,724(63,816)2,840,9712020630
54,150,99010,332,2537,458,58171,941,824
93,490,540165,432,36411,768,1971,738,0951,620,91315,127,205
106,028,364121,155,56920201–
1,263,094267,763450,1401,980,9972,213,218469,179454,9033,137,300(104,986)(22,256)(14,461)(141,703)(206,815)(43,843)(28,485)(279,143)
2.
20191–
32,485,1587,424,0304,549,26244,458,450
——150,769150,76932,485,1587,424,0304,700,03144,609,21911,164,485454,6611,249,74212,868,888
935,108(10,602,960)(662,809)(142,604)(158,146)2,237,47720191231
46,843,9899,479,3796,440,64662,764,014
78,438,121141,202,13511,511,6101,933,5821,582,74715,027,939
88,219,898103,247,83720191–
979,104223,761352,5691,555,4342,171,090496,173585,3763,252,639342,26078,21949,519469,9981,031,221235,671149,1991,416,091
2.
20201–620191–
31,751,16427,421,7296,923,1027,807,7282,522,7502,715,3406,002,3576,664,42247,199,37344,609,219
20206302019123120,819,29819,844,7451,705,5241,651,432539,127562,167143,39549,33123,207,34422,107,675
14,884,180201911,950,398
1.
202063020191231112,546,31613,772,606122,370,3097,173,545234,159,0083,636,401310,139,46711,285,660
29,215,10035,868,2128,797,76510,974,67520,417,33524,893,537202063020191231(%)(%)(%)(%)
4,019,259144,019,2591006,237,644176,237,644100
–68,329,97028214,87539,542,65627218,2762
–123,193,7921177,96323,267,561974,9552
–181,195,5184154,909132,824,0078155,6116
–24876,7173102,949122,291,844679,1933
–32,303,0908615,929273,366,57110989,4172939,296,754323,611,881398,337,929233,219,57939
25,195,841864,778,5061829,630,568834,737,0311629,215,1001008,797,76535,868,21210010,974,675
202063010,974,675293,501(2,470,411)8,797,765201912319,557,9402,638,857(1,222,122)10,974,675
202063047,6542019
2,470,411201912311,222,122
2.
202063020191231123,799,58025,056,517123,333,7703,374,021232,278,0522,793,40131,104,7321,023,092
30,516,13432,247,031(9,889)(120,763)30,506,24532,126,268
202063020191231
270,8493,912,671202,920145,46230,032,47628,068,13530,506,24532,126,2683.
20206302019123115,594,9985,541,687
2,617,2662,224,78437,59029,5948,174,6747,736,877
202063029,5947,99637,590201912312,57127,02329,594
4.50%
–
6.16%
4.
202063020191231
(1)59,05467,515
(2)1,828,2691,875,993
7,2417,2411,880,0821,936,267
(3)10,762,05110,759,982
(4)425,667425,667
10,336,38410,334,31512,216,46612,270,5822020630
(1)
45,706——(5,567)————40,139—
21,809——(2,894)————18,915—67,515——(8,461)————59,054—(2)
KAZNURTEL Limited Liability Company——————————(2,477)3,763——(3,763)———————426,768——11,954—————438,722—
1,324——(1,324)—————————————————(4,764)2,181——(1,053)—————1,128—2,862——(384)—————2,478—4,862——(175)—————4,687—26,782——(72)—————26,710—2,860——
—————3,090—665,048——(46,428)—————618,620—679,373——5,078—————684,451—32,080——(7,122)—————24,958—20,849——(4,665)—————16,184—1,868,752——(47,724)—————1,821,028(7,241)
4.
2020630(3)
263,293263,293—263,293100.0%100.0%—37,38237,382—37,38290.0%90.0%—580,000580,000—580,000100.0%100.0%—91,95791,957—91,95768.4%68.4%—179,767179,767—179,76790.0%90.0%5,40041,25041,250—41,25080.0%80.0%—45,00045,000—45,000100.0%100.0%—40,50040,500—40,50083.0%83.0%—13,11013,110—13,11090.0%90.0%—5,0005,000—5,000100.0%100.0%—600,000600,000—600,000100.0%100.0%—157,019157,019—157,01990.0%90.0%—29,70022,160—22,160100.0%100.0%—45,00029,700—29,700100.0%100.0%—PT. ZTE Indonesia15,27515,275—15,275100.0%100.0%—ZTE Wistron Telecom AB2,1372,137—2,137100.0%100.0%—ZTE Holdings (Thailand) Co., Ltd1010—10100.0%100.0%—ZTE (Thailand) Co., Ltd.5,2535,253—5,253100.0%100.0%—ZTE (USA) Inc.190,133190,133—190,133100.0%100.0%—ZTE Corporation Mexico S.DER.LDEC.V.4242—42100.0%100.0%—ZTE Do Brasil LTDA18,57318,573—18,573100.0%100.0%—ZTE Romania S.R.L827827—827100.0%100.0%—ZTE Telecom India PrivateLtd.335,759335,759—335,759100.0%100.0%—ZTE-Communication Technologies, Ltd. 6,5826,582—6,582100.0%100.0%—Zhongxing Telecom Pakistan (Private) Ltd.5,2795,279—5,27993.0%93.0%—853,800853,800—853,800100.0%100.0%—16,50016,500—16,50055.0%55.0%41,250500,000500,000—500,000100.0%100.0%—————
30.0%*19,200
1,000,0001,000,000—1,000,000100.0%100.0%—16,00016,000—16,000100.0%100.0%—289,341289,341—289,341100.0%100.0%—42,75042,750—42,75090.0%90.0%—50,00050,000—50,000100.0%100.0%—30,00030,000(3,000)27,00090.0%90.0%—47,50047,500—47,50095.0%95.0%—232,360232,360—232,360100.0%100.0%—300,000300,000—300,000100.0%100.0%—15,00015,000—15,00050.0%50.0%—15,00015,000—15,000100.0%100.0%—56,80056,800(11,800)45,00028.9%*18,400
4.
2020630(3)
51,53051,530—51,530100.0%100.0%—9,3939,393—9,393100.0%100.0%—19,50019,500—19,50065.0%65.0%—350,000350,000—350,000100.0%100.0%—35,40035,400—35,400100.0%100.0%—25,50025,500—25,50051.0%51.0%5,40045,00045,000—45,000100.0%100.0%—50,00050,000—50,000100.0%100.0%—2,0002,000—2,000100.0%100.0%—400,000400,000—400,000100.0%100.0%—790,500790,500—790,50086.4%86.4%—1,000,0001,000,000—1,000,000100.0%100.0%—120,000120,000—120,00025.0%*—10,00010,000(10,000)————44,10044,100—44,10090.0%90.0%—49,00049,000—49,000100.0%100.0%—500,000500,000—500,000100.0%100.0%—36,00036,00016,26952,269100.0%100.0%—45,00045,000—45,000100.0%100.0%—3,0003,000—3,000100.0%100.0%—10,00010,000—10,000100.0%100.0%—1,000,0001,000,000—1,000,000100.0%100.0%—23,60013,00010,60023,60056.4%56.4%—10,759,9822,06910,762,05189,650* 50%
4.
2020630(4)
ZTE (USA) Inc.5,381—5,38123,767—23,767ZTE DoBrasil LT DA18,572—18,5724,591—4,591Wistron Telecom AB2,030—2,030ZTE Corporation Mexico S.DER.LDEC.V.
—
Zhongxing Telecom Pakistan (Private) Ltd.
2,971—2,9719,656—9,656ZTE Holdings (Thailand) Co., Ltd10—
ZTE (Thailand) Co., Ltd.205—
ZTE Telecom India Private Ltd.335,759—335,759ZTE Romania S.R.L827—
PT ZTE Indonesia15,275—15,275ZTE-Communication Technologies, Ltd.
6,582—6,582425,667—425,667
20191231(1)
57,234——(11,528)————45,706—27,278——(5,469)————21,809—84,512——(16,997)————67,515—
4.
20191231(2)
KAZNURTEL Limited Liability Company—————————(2,477)3,947——(184)————3,763—426,995——(227)————426,768—
1,790——(466)————1,324——————————(4,764)4,360——(2,179)————2,181—2,927——(65)————2,8624,634——
————4,862—26,134——
————26,782—3,876——(1,016)————2,860—801,118——(136,070)————665,048—665,209——15,575—(1,411)——679,373—48,278——(16,198)————32,080——20,849——————20,849—1,989,26820,849—(139,954)—(1,411)——1,868,752(7,241)(3)
263,293263,293—263,293100.0%100.0%4,690,00037,38237,382—37,38290.0%90.0%—580,000580,000—580,000100.0%100.0%—91,95791,957—91,95768.0%68.0%—179,767179,767—179,76790.0%90.0%4,00041,25041,250—41,25080.0%80.0%—45,00045,000—45,000100.0%100.0%—40,50040,500—40,50083.0%83.0%—13,11013,110—13,11090.0%90.0%—5,0005,000—5,000100.0%100.0%——2,100(2,100)————600,000600,000—600,000100.0%100.0%1,200,000157,019157,019—157,01990.0%90.0%——100,000(100,000)————22,16015,2006,96022,160100.0%100.0%—29,70029,700—29,700100.0%100.0%2,752PT. ZTE Indonesia15,27515,275—15,275100.0%100.0%—ZTE Wistron Telecom AB2,1372,137—2,137100.0%100.0%—ZTE Holdings (Thailand) Co., Ltd1010—10100.0%100.0%—ZTE (Thailand) Co., Ltd.5,2535,253—5,253100.0%100.0%—ZTE (USA) Inc.190,133190,133—190,133100.0%100.0%—ZTE Corporation Mexico S.DER.LDEC.V.4242—42100.0%100.0%—ZTE Do Brasil LTDA18,57318,573—18,573100.0%100.0%—ZTE Romania S.R.L827827—827100.0%100.0%—ZTE Telecom India Private Ltd.335,759335,759—335,759100.0%100.0%—ZTE-Communication Technologies, Ltd.6,5826,582—6,582100.0%100.0%—Zhongxing Telecom Pakistan (Private) Ltd.5,2795,279—5,27993.0%93.0%—853,800853,800—853,800100.0%100.0%—16,50016,500—16,50055.0%55.0%12,100500,000500,000—500,000100.0%100.0%129,562————
30.0%*186,000
4.
20191231(3)
1,000,0001,000,000—1,000,000100.0%100.0%—16,00016,000—16,000100.0%100.0%—289,341289,341—289,341100.0%100.0%—42,75042,750—42,750100.0%100.0%—50,00050,000—50,000100.0%100.0%—30,00030,000—30,000100.0%100.0%—47,50047,500—47,50095.0%95.0%—232,360218,24014,120232,360100.0%100.0%—300,000300,000—300,000100.0%100.0%718,13615,00015,000—15,00050.0%50.0%—15,00015,000—15,000100.0%100.0%—56,80092,800(36,000)56,80028.9%*45,00051,53046,5305,00051,530100.0%100.0%——30,000(30,000)————9,3939,393—9,393100.0%100.0%—19,50019,500—19,50065.0%65.0%—350,000350,000—350,000100.0%100.0%128,50435,40035,400—35,400100.0%100.0%—25,50025,500—25,50051.0%51.0%—45,00045,000—45,000100.0%100.0%—50,00050,000—50,000100.0%100.0%——31,620(31,620)—
0.0%0.0%
—2,0002,000—2,000100.0%100.0%——48,960(48,960)—
0.0%0.0%
—400,000400,000—400,00080.0%80.0%——2,550(2,550)—
0.0%0.0%
—790,500790,500—790,500100.0%100.0%127,034—2,000(2,000)—
0.0%0.0%
—1,000,0001,000,000—1,000,000100.0%100.0%—120,000300,000(180,000)120,00025.0%*21,00010,00010,000—10,000100.0%100.0%—44,10044,100—44,10090.0%90.0%—49,00049,000—49,000100.0%100.0%—500,000500,000—500,000100.0%100.0%100,23036,00036,000—36,00075.0%75.0%—45,00045,000—45,000100.0%100.0%—3,0003,000—3,000100.0%100.0%——2,000(2,000)—
0.0%0.0%
—10,00010,000—10,000100.0%100.0%—1,000,0001,000,000—1,000,000100.0%100.0%623,26013,000—13,00013,00045.2%**—11,156,132(396,150)10,759,9827,987,578* 50%** 50%
4.
20191231
(4)
ZTE (USA) Inc.5,381—5,38123,767—23,767ZTE DoBrasil LT DA10,0598,51318,572
4,591—4,591Wistron Telecom AB2,030—2,030ZTE Corporation Mexico S.DER.LDEC.V.
—
Zhongxing Telecom Pakistan (Private) Ltd.
2,971—2,9719,656—9,656ZTE Holdings (Thailand) Co., Ltd10—
ZTE (Thailand) Co., Ltd.205—
ZTE Telecom India Private Ltd.1,654334,105335,759ZTE Romania S.R.L827—
PT ZTE Indonesia—15,27515,275ZTE-Communication Technologies, Ltd.
—6,5826,58261,192364,475425,6675.
20201–620191–
36,601,23637,445,60531,856,50732,276,7876,708,19831,9847,618,76913,45543,309,43437,477,58939,475,27632,290,242
6.
20201–620191–
(56,186)(98,657)89,650239,13549,53818,0611,2891,1763,431(24,918)(7,504)(21,607)80,218113,190
財務報表補充資料
20201–
(26,618)(12,970)
(10,197)47,6543,622(7,165)334,00226,988790,8151,146,131(171,920)(19,037)955,1741 1— [2008]4320201–
513,31312,856100,596487,728
2020630
(%)
5.28%0.400.40
2.56%0.200.192019630
(%)
6.20%0.350.35
2.58%0.150.14
合併損益及其他綜合收益表
20201–620201–620191–
447,199,37344,609,219
(31,764,345)(28,058,303)15,435,02816,550,91642,157,5171,818,453
(6,637,376)(6,471,866)(3,940,595)(4,025,746)(2,474,729)(2,766,954)(279,143)(1,416,091)(69,797)(84,063)(438,196)(385,973)6(847,922)(823,053)
(8,461)(3,363)(55,355)(154,783)52,840,9712,237,4777(517,590)(412,914)
2,323,3811,824,5631,857,2891,470,699
16,236172,867449,856180,9972,323,3811,824,563(115,505)51,077(115,505)51,077(115,505)51,0772,207,8761,875,6401,738,2171,522,528
16,236172,867453,423180,2452,207,8761,875,640
0.400.35
0.400.35
合併財務狀況報表
2020630
202063020191231
11,159,67910,555,2041,960,8641,957,2423,551,8943,468,949186,206186,2067,521,2697,190,061106,054114,5152,186,3982,212,7731,530,2321,594,254113,110,9702,819,606
310,393200,6712,472,6412,511,3723,108,3022,928,8102,974,2122,895,29840,179,11438,634,96137,179,09227,688,5081010,203,5339,537,8501116,898,23019,778,280
252,220308,7109,767,1138,847,3631,066,532560,66231,147106,0653,987,3862,430,3892,116,7773,343,5116,776,2081,460,03636,975,01228,505,800125,253,250102,567,174
合併財務狀況報表（續）
2020630202063020191231
1235,567,40427,728,5501014,562,03414,517,057
12,775,43314,059,6252,008,7301,966,464131,527126,2238,000,000—16,905,17726,738,019254,444310,024924,0125,222423,464399,124432,638520,20891,984,86386,370,51633,268,38716,196,65873,447,50154,831,61921,835,07610,045,093310,727200,858139,938172,060142,296144,505660,325645,2946,082,3445,669,51129,170,70616,877,32144,276,79537,954,2984,613,4354,227,53036,542,68124,599,33841,156,11628,826,868
—6,252,3643,120,6792,875,06644,276,79537,954,298
合併權益變動表
20201–6
2020114,227,53012,617,918(67,982)290,3562,775,521(2,696,840)11,680,36528,826,8686,252,3642,875,06637,954,298
——————1,857,2891,857,28916,236449,8562,323,381—————(119,072)—(119,072)—3,567(115,505)—————(119,072)1,857,2891,738,21716,236453,4232,207,876381,09911,081,352—————11,462,451——11,462,451—————————(127,122)(127,122)—(51)—————(51)—15,09815,047—(1,298)—————(1,298)—(5,212)(6,510)—————————(90,574)(90,574)——————(922,687)(922,687)——(922,687)————————(348,600)—(348,600)—
———52,162———52,162——52,162— 4,806122,558—(46,910)———80,454——80,454—(80,000)—————(80,000)(5,920,000)—(6,000,000)20206304,613,43523,740,479*(67,982)*295,608*2,775,521*(2,815,912)*12,614,967*41,156,116—3,120,67944,276,795* 36,542,681
2019114,192,67211,777,106(67,982)438,7912,324,748(2,751,020)6,983,26122,897,5766,252,3643,810,73532,960,675
——————1,470,6991,470,699172,867180,9971,824,563—————51,829—51,829—
(752)51,077
—————51,8291,470,6991,522,528172,867180,2451,875,640—————————(273,581)(273,581)—43,434—————43,434—111,917155,351—(93,494)—————(93,494)—(24,790)(118,284)—————————(584,836)(584,836)————————(348,599)—(348,599)—
———150,266———150,266——150,26620196304,192,67211,727,046(67,982)589,0572,324,748(2,699,191)8,453,96024,520,3106,076,6323,219,69033,816,632
合併現金流量表
202063020201–620191–
(663,535)(625,067)(6,100,680)(4,637,865)15,087,40010,687,5668,323,1855,424,63428,505,80021,134,111146,02777,91536,975,01226,636,66035,839,22226,261,2131,135,790375,44736,975,01226,636,660
簡明綜合中期財務報表附註
20206301.
518057
2.
2.1.
202063034
201912
2.2
20191231
162019
(a) 3
202011
簡明綜合中期財務報表附註（續）
2020630
2.
2.2
(b) 9397
(c) 162019
(i)(ii)2021630(iii)
2020612020630
2020112020630(d) 18
3.
(a)(b)(c)
簡明綜合中期財務報表附註（續）
2020630
3.
20201–
34,969,5897,413,1864,747,81647,130,591
——68,78268,78234,969,5897,413,1864,816,59847,199,3739,558,2021,042,922927,50511,528,629
581,8601,575,657(9,978,398)(802,961)(8,461)(55,355)2,840,9712020630
54,150,99010,332,2537,458,58171,941,824
106,0542,186,39891,198,088165,432,36411,768,1971,738,0951,620,91315,127,205
106,028,364121,155,56920201–
(104,986)(22,256)(14,461)(141,703)(206,815)(43,843)(28,485)(279,143)1,263,094267,763450,1401,980,997*2,213,218469,179454,9033,137,300*
簡明綜合中期財務報表附註（續）
20206303.
20191–
32,485,1587,424,0304,549,26244,458,450
——150,769150,76932,485,1587,424,0304,700,03144,609,21911,164,485454,6611,249,74212,868,888
322,233
1,496,220(11,468,665)(823,053)(3,363)(154,783)
2,237,47720191231
46,843,9899,479,3796,440,64662,764,014
114,515
2,212,77376,110,833141,202,13511,511,6101,933,5821,582,74715,027,939
88,219,898103,247,83720191–
342,26078,21949,519469,9981,031,221235,671149,1991,416,091979,104223,761352,5691,555,434*2,171,090496,173585,3763,252,639
簡明綜合中期財務報表附註（續）
20206303.
(a)
20201–620191–
31,751,16427,421,7296,923,1027,807,7282,522,7502,715,3406,002,3576,664,42247,199,37344,609,219
(b)
20206302019123118,253,76617,439,577
1,705,5241,651,432539,127562,167143,39549,33120,641,81219,702,507
14,884,180201911,950,398
簡明綜合中期財務報表附註（續）
2020630
4.
20201–620191–
47,130,59144,458,45068,782150,76947,199,37344,609,219
(i)
20201–
2,977,5657,278,9882,284,17712,540,7305,625,640134,198517,8126,277,65026,366,384—1,945,82728,312,21134,969,5897,413,1864,747,81647,130,59126,428,2812,877,7402,376,36131,682,3825,078,1631,140,121704,8186,923,1021,767,785296,463458,5022,522,7501,695,3603,098,8621,208,1356,002,35734,969,5897,413,1864,747,81647,130,59129,343,9497,278,9884,230,00440,852,9415,625,640134,198517,8126,277,65034,969,5897,413,1864,747,81647,130,591
簡明綜合中期財務報表附註（續）
20206304.
(i)
20191–
4,666,0957,352,0682,071,49814,089,6616,372,36471,962830,9377,275,26321,446,699—1,646,82723,093,52632,485,1587,424,0304,549,26244,458,45021,663,7363,526,1012,081,12327,270,9606,195,497673,751938,4807,807,7282,011,499228,684475,1572,715,3402,614,4262,995,4941,054,5026,664,42232,485,1587,424,0304,549,26244,458,45026,015,0717,351,6943,694,97137,061,7366,470,08772,336854,2917,396,71432,485,1587,424,0304,549,26244,458,450
20201–
6,643,607(ii)
60120
簡明綜合中期財務報表附註（續）
20206304.
(ii)
20201–620191–
448,939295,06532,897—100,02427,168#
526,169730,3785,7699,972##
389,661204,7301,503,4591,267,313100,596407,01070,47549,382—90,772479,365——
3,6223,320
654,058551,1402,157,5171,818,453#
3%##
簡明綜合中期財務報表附註（續）
2020630
5.
20201–620191–
28,596,53924,638,913648,956602,416293,837287,365246,930162,529791,274562,1576,958,7956,926,255(1,112,693)(1,016,546)6,637,3766,471,866*
80,67123,278(3,622)(3,320)(454,850)122,83277(186)205,7151,074,0034,738(1,172)4,382341,05863,1652,9741,013204
(17)(778)
147(198)(5,769)(9,972)**1,712,320434,513**66,45686,132*2,50422,737
**134,538469,998*7,165—98,266177,029
(843)(1,623)
7007009,786,7629,344,17852,162150,266304,766614,06510,143,69010,108,509*257,51059,823
*26,61816,975*12,970(90,772)
(70,475)(49,382)(100,596)(407,010)69,79784,063
簡明綜合中期財務報表附註（續）
20206305.
***6.
20201–620191–
611,904557,39944,96132,66931,643—23,414—136,000232,985847,922823,053
7.
20201–620191–
— 1,2712,807
— 307,145296,650
— 202,565229,677
6,609(116,220)517,590412,914
16.5%201916.5%
20081125%
2017–201915%2020–202220201–615%20202020
簡明綜合中期財務報表附註（續）
20206307.
202010%
2019–202215%
2018–202015%
2020
12.5%
2017–201915%2020–20222020202012020615%
2020
12.5%
202015%8.
202063060.2922,687,0002019201912312020630620196306
簡明綜合中期財務報表附註（續）
20206309.
20201–620191–
1,857,2891,470,69920201–620191–
4,612,3354,192,672
— 22,14330,440
4,634,4784,223,112201722,143
簡明綜合中期財務報表附註（續）
202063010.(a)
20206302019123110,653,4779,987,937(449,944)(450,087)10,203,5339,537,8502020630
202063020191231110,203,5339,537,850
202063020191231
450,087152,4854,382294,632(90)—(4,435)2,970449,944450,087
202063020191231
4.22%4.51%
10,653,4779,987,937449,944450,087
簡明綜合中期財務報表附註（續）
2020630
10.(b)
20206302019123114,562,03414,517,057
11.
202063020191231
30,332,95635,766,089(10,323,756)(13,168,203)20,009,20022,597,886(16,898,230)(19,778,280)3,110,9702,819,606
202063020191231616,864,37518,838,5616121,742,6432,331,934121,157,8841,061,61123244,298365,780
20,009,20022,597,886(16,898,230)(19,778,280)3,110,9702,819,606
簡明綜合中期財務報表附註（續）
202063011.
20206302019123113,168,20312,412,280210,4531,817,629(3,174,252)(1,359,859)
119,352298,15310,323,75613,168,203
2020630
661212233
8%15%47%92%100%34%18,281,5192,044,4012,170,8563,113,6914,722,48930,332,9561,417,144301,7581,012,9722,869,3934,722,48910,323,75620191231
66121223311%13%76%81%100%37%21,102,2442,675,2344,353,5671,956,2985,678,74635,766,0892,263,683343,3003,291,9561,590,5185,678,74613,168,203
簡明綜合中期財務報表附註（續）
202063011.
202063020191231
—
9,51317,772275,134339,27610,14310,494294,790367,575
12.
202063020191231634,460,28426,928,446612499,655398,10712303,096194,54823232,982166,176371,38741,273
35,567,40427,728,550
202063020191231
2,1996,494—
661,967772,20765,39386,840729,559865,571
簡明綜合中期財務報表附註（續）
202063013.(1)
2015127201560
55.81%63005(www.chinabond.com.cn)
50.01%6
30020201316,348,600(2)
6,000,0002015.1.2760,0006,000,0006,252,36416,236(5,920,000)(348,600)—
簡明綜合中期財務報表附註（續）
2020630
14.(a)
20206302019123112,969,00413,559,281(b) 2012113,135.374,048.43
201327
201373,122.43
4,031.7320161
3,122.434,031.732016420168292016113,122.434,031.7320172
2016102012113015
8,297.45
1.07
簡明綜合中期財務報表附註（續）
202063014.
(c) BIS2018415
2018415202531320184152018415
EAREAR201841520184238317644
20186BIS201820173BIS2018BIS201868
201868201814
1020186842018
20186842018
BIS201868
EAR2018201868
20186
2018201720182017(i)
EAR(ii)4
簡明綜合中期財務報表附註（續）
202063014.(c)
SAP(GTS)ECCN
ECCN
2020
202011(d) 20181031
(1)2(2)
201949
簡明綜合中期財務報表附註（續）
202063015.
202063020191231
3,196,2573,097,021
28,19048,6903,224,4473,145,711
16.
(I)
20201–620191–
(a)—1,062(b)3148(c)5,1124,697(a)294,84858,020(b)307,449152,514(d)9,4498,924(f)—
(b)2,10310,684(d)—
(a)170,478208,075(b)6,1286,507(d)403566(a)48,08128,170(b)461,447284,236(e)16,18615,095(d)28,21927,728(f)—
簡明綜合中期財務報表附註（續）
2020630
16.(I)
(a)(b)(c) 46.5200(d) 53.0152.1(e) 14.180.0150(f)(II)
20201–620191–
5,0503,793761278421,0565,9684,976
簡明綜合中期財務報表附註（續）
202063017.
2020630
EV/EBITP/E
簡明綜合中期財務報表附註（續）
202063017.
A–
202063020191231
2020
2019
1231
%4~104~10%3030P/E13~6713~67
2~62~6EV/EBIT11~1411~14
簡明綜合中期財務報表附註（續）
202063017.
2020630
— 119,395—877,000996,395—
——1,530,2321,530,232—70,137—70,137—31,147—31,147—3,987,386—3,987,386119,3954,088,6702,407,2326,615,29720191231
—
116,220—407,007523,227—
——1,594,2541,594,254—37,435—37,435—106,065—106,065—2,430,389—2,430,389116,2202,573,8892,001,2614,691,370
簡明綜合中期財務報表附註（續）
202063017.
2020630
—(131,527)—(131,527)20191231
—(126,223)—(126,223)
202063020191231
—
112,001,2611,551,551
558,491545,72121,8724,793—130,581(90,971)(119,633)(83,421)(111,752)20206302,407,2322,001,26118.
2020828
備查文件 2020
2020630 (http://www.cninfo.com.cn)
2020829
: 000063.SZ763.HK
2020