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

ZTE CORPORATION

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Sweden Bans Use of Huawei and ZTE Products in Critical 5G Infrastructure

10/20/2020 | 03:52am EST

By Dominic Chopping

STOCKHOLM--The Swedish Post and Telecom Agency on Tuesday banned the use of Huawei and ZTE telecom equipment in critical 5G network infrastructure after consulting with the country's armed forces and security police.

PTS, as it is known, is the government agency responsible for monitoring the electronic communications and postal sectors in Sweden and it has been evaluating the security of networks and services for over a year, ahead of the roll-out of fifth-generation networks in the country.

In a statement Tuesday, PTS said it had approved four companies to participate in coming 5G spectrum auctions and placed a set of conditions on the equipment that they must use for central functions.

These central functions include the radio access, transmission and core network as well as the service networks that are necessary to maintain network functionality and electronic communication services.

It said that Huawei and ZTE products mustn't be used in new installations of central functions, and any existing products from the two companies used for central functions must be phased out by Jan. 1, 2025 at the latest.

In addition, PTS said central functions that are dependant on staff or functions in foreign countries must be phased out and replaced by functions or staff placed in Sweden by Jan. 1, 2025.

Write to Dominic Chopping at dominic.chopping@wsj.com

(END) Dow Jones Newswires

10-20-20 0351ET

Stocks mentioned in the article
ChangeLast1st jan.
TELE2 AB (PUBL) -0.73% 108.3 Delayed Quote.-19.69%
TELENOR ASA 0.03% 149 Delayed Quote.-5.40%
TELIA COMPANY AB -1.07% 35.05 Delayed Quote.-11.98%
ZTE CORPORATION -0.71% 34.81 End-of-day quote.-1.64%
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12/01ZTE : Releases 5G NFV O&M White Paper
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11/30Telia to remove all Huawei equipment in Lithuania
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More news
Financials
Sales 2020 101 B 15 447 M 15 447 M
Net income 2020 4 416 M 676 M 676 M
Net cash 2020 2 029 M 311 M 311 M
P/E ratio 2020 37,5x
Yield 2020 0,66%
Capitalization 147 B 22 480 M 22 482 M
EV / Sales 2020 1,44x
EV / Sales 2021 1,25x
Nbr of Employees 70 066
Free-Float 71,4%
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Technical analysis trends ZTE CORPORATION
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Income Statement Evolution
Consensus
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 39,68 CNY
Last Close Price 34,81 CNY
Spread / Highest target 42,2%
Spread / Average Target 14,0%
Spread / Lowest Target -23,9%
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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