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

ZTE CORPORATION

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FCC Estimates Removing Huawei and ZTE Equipment and Services Would Cost Rural Carriers Nearly $2 Billion

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09/04/2020 | 12:15pm EDT

By Maria Armental

Removing equipment bought from Chinese companies Huawei Technologies Co. and ZTE Corp. would cost U.S. companies that receive federal subsidies nearly $2 billion, according to a Federal Communications Commission survey.

The FCC designated the Chinese companies as "posing a national security threat to the integrity of communications networks or the communications supply chain" and barred the use of money from the Universal Service Fund to buy equipment or services from those companies.

The FCC's USF subsidizes phone services for low-income and rural customers.

Based on the information that the FCC collected from carriers, including Verizon Communications Inc. and America Movil SAB, it would cost an estimated $1.84 billion to remove and replace Huawei and ZTE equipment in their networks. Of that total, the FCC said, carriers that appear to initially qualify for reimbursement under the "rip and replace" program reported it could cost them about $1.62 billion to remove and replace the equipment.

"By identifying the presence of insecure equipment and services in our networks, we can now work to ensure that these networks--especially those of small and rural carriers--rely on infrastructure from trusted vendors," FCC Chairman Ajit Pai said in a statement, asking Congress to appropriate money to reimburse carriers for replacing the relevant equipment and services.

 

Write to Maria Armental at maria.armental@wsj.com

 


Stocks mentioned in the article
ChangeLast1st jan.
AMÉRICA MÓVIL, S.A.B. DE C.V. 2.02% 14.16 End-of-day quote.-6.23%
VERIZON COMMUNICATIONS INC. 1.02% 57.33 Delayed Quote.-7.57%
ZTE CORPORATION -1.46% 33.63 End-of-day quote.-4.97%
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Financials
Sales 2020 103 B 15 408 M 15 408 M
Net income 2020 5 312 M 795 M 795 M
Net cash 2020 2 046 M 306 M 306 M
P/E ratio 2020 28,0x
Yield 2020 0,94%
Capitalization 142 B 21 246 M 21 247 M
EV / Sales 2020 1,36x
EV / Sales 2021 1,16x
Nbr of Employees 70 066
Free-Float 68,6%
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Technical analysis trends ZTE CORPORATION
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TrendsNeutralBearishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus OUTPERFORM
Number of Analysts 25
Average target price 41,19 CNY
Last Close Price 33,63 CNY
Spread / Highest target 53,0%
Spread / Average Target 22,5%
Spread / Lowest Target -21,2%
EPS Revisions
Managers
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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