August 21, 2014 / 1:40 AM / in 3 years

Shares of ZTE jump more than 5 pct after strong H1 earnings

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HONG KONG, Aug 21 (Reuters) - Shares of Chinese telecom equipment maker ZTE Corp jumped more than 5 percent on Thursday morning after the company posted a record first-half net profit thanks to improving margins and revenue from new contracts to build China's next-generation telecom network.

The Shenzhen-based company's first-half net profit rose 263 percent year-on-year to 1.13 billion yuan ($184 million), up from 310 million yuan a year earlier.

Shares in the company rose as much as 5 percent on Thursday morning, outperforming a 0.2 percent fall in the benchmark Hang Seng Index. (Reporting By Yimou Lee; Editing by Anne Marie Roantree)

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