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MarketScreener Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  ZTE Corporation    000063   CNE000000TK5

ZTE CORPORATION

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FCC affirms ZTE poses U.S. national security threat

11/24/2020 | 08:58pm EST
Sign of ZTE is seen at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing

WASHINGTON (Reuters) - The Federal Communications Commission (FCC) said on Tuesday it had rejected a petition from ZTE Corp asking the agency to reconsider its decision designating the Chinese company as a U.S. national security threat to communications networks.

The FCC announced in June it had formally designated Chinese's Huawei Technologies Co and ZTE as threats, a declaration that bars U.S. firms from tapping an $8.3 billion government fund to purchase equipment from the companies.

ZTE did not immediately respond to a request for comment.

Last week, the FCC said it was extending time frame to respond to Huawei's petition until Dec. 11 "to fully and adequately consider the voluminous record."

In May 2019, President Donald Trump signed an executive order barring U.S. companies from using telecommunications equipment made by companies posing national security risks and the administration added Huawei to its trade blacklist.

The FCC on Dec. 10 will vote on rules to help carriers remove and replace equipment from companies posing security risks from networks.

FCC Chairman Ajit Pai said last week the commission will take up two unspecified national security matters at its Dec. 10 meeting.

In April, the FCC disclosed it might shut down the U.S. operations of three state-controlled Chinese telecommunications companies: China Telecom, China Unicom and Pacific Networks Corp and its subsidiary ComNet (USA).

The nearly 20-year-old authorizations allow Chinese telecom companies to provide interconnection services for phone calls between the United States and other countries.

Last week, the FCC said it was reclaiming International Signaling Point Codes assigned to China Telecom (Americas), saying it had determined "the three codes are no longer in use." China Telecom did not immediately comment.

Last month, the FCC asked the Justice Department to weigh in on whether China Unicom's U.S operations pose security risks.

In May 2019, the FCC voted unanimously to deny another state-owned Chinese telecommunications company, China Mobile, the right to provide U.S. services, citing concerns China could use the approval to conduct espionage against the U.S. government.

(Reporting by David Shepardson in Washington; Editing by Chris Reese and Matthew Lewis)

By David Shepardson


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
CHINA MOBILE LIMITED -0.11% 47.1 End-of-day quote.6.56%
CHINA TELECOM CORPORATION LIMITED 1.74% 2.34 End-of-day quote.8.84%
CHINA UNICOM (HONG KONG) LIMITED -0.79% 5.01 End-of-day quote.12.58%
MAINICHI COMNET CO., LTD. -0.44% 679 End-of-day quote.-3.55%
ZTE CORPORATION -2.26% 35.1 End-of-day quote.4.31%
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More news
Financials
Sales 2020 102 B 15 762 M 15 762 M
Net income 2020 4 253 M 656 M 656 M
Net Debt 2020 716 M 110 M 110 M
P/E ratio 2020 33,9x
Yield 2020 0,64%
Capitalization 149 B 22 987 M 22 986 M
EV / Sales 2020 1,47x
EV / Sales 2021 1,30x
Nbr of Employees 70 066
Free-Float 71,4%
Chart ZTE CORPORATION
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ZTE Corporation Technical Analysis Chart | 000063 | CNE000000TK5 | MarketScreener
Technical analysis trends ZTE CORPORATION
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 20
Average target price 39,26 CNY
Last Close Price 35,10 CNY
Spread / Highest target 41,0%
Spread / Average Target 11,8%
Spread / Lowest Target -24,5%
EPS Revisions
Managers and Directors
NameTitle
Zi Yang Xu President, CEO & Executive Director
Da Xiong Xie Chairman-Supervisory Board
Zi Xue Li Chairman
Li Ying Chief Financial Officer & Executive Vice President
Jun Feng Wang Member-Supervisory Board
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