September 22 -- ZTE Corporation (000063, 0763.HK) predicts the compound annual growth rate (CAGR) of its telecommunication service products will be 40 percent over the next three years, reports yicai.com, citing a company press release. Its telecommunication service product CAGR was 55 percent over the past four years.

The Shenzhen-based firm hopes its revenues will hit US$1.5 billion by the end of this year.

ZTE rolled out a new intelligent operation management solution package at the 2011 Germany World Management Service Forum, and it will become a new source of revenue for the company.

According to its semi-annual report, ZTE generated revenue of 37.34 billion yuan during the first six month of 2011, including 20.52 billion yuan from building telecommunication networks, 5.6 billion yuan from telecommunication software and service products, and 11.215 billion yuan from selling terminal devices.

ZTE plans to issue additional shares to acquire a 100-percent stake in Jinzheng Automatic Engineering. The acquisition would be considered a related-party transaction, so its feasibility is uncertain.