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    000063   CNE000000TK5

ZTE CORPORATION

(000063)
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End-of-day quote. End-of-day quote Shenzhen Stock Exchange - 06/18
34.15 CNY   +4.12%
06/18EUROPEAN MIDDAY BRIEFING  : Stocks Slip as -2-
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06/18NORTH AMERICAN MORNING BRIEFING  : Dow on Track for -2-
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06/18U.S. FCC votes to advance proposed ban on Huawei, ZTE gear
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Swedish court to hear Huawei's case against 5G ban

04/20/2021 | 07:09pm EDT
FILE PHOTO: Mobile World Congress (MWC) in Shanghai

STOCKHOLM (Reuters) - A Swedish administrative court on Wednesday will start hearing arguments in a case filed by Huawei Technologies Co Ltd against the country's telecom regulator for banning the Chinese company from its 5G networks.

While several countries across Europe are still formulating telecom policies, only the United Kingdom https://www.reuters.com/article/us-britain-huawei-idUSKBN28A005 and Sweden have so far banned Huawei and ZTE Corp from supplying critical 5G network equipment.

Sweden's telecom regulator PTS in October banned the Chinese companies from rolling out 5G, citing security risks. It gave telecom operators taking part in 5G auctions until Jan. 1, 2025 to remove Chinese gear from their infrastructure and core functions.

Under Swedish law, any company affected by new legislation has the right to be heard and given the chance to clarify any concerns before restrictions are imposed, said Kenneth Fredriksen, Huawei's executive vice president, Central East Europe and Nordic Region, in an interview.

"Now we will have the opportunity to explain ourselves and let our opinions be heard in a proper way and also deal with all the legal mistakes we believe have been made."

The court will hear arguments from both parties from Wednesday to Friday.

A spokeswoman for the court said the date for delivering a verdict has not been disclosed.

A Swedish court had allowed PTS to conduct 5G auctions, but also said Huawei could pursue a legal challenge over its exclusion.

PTS finished the auctions in January with Telia Company AB , Tele2 AB, Telenor ASA and Tre winning parts of the spectrum.

It was unclear if the auction results would face any legal challenge if the court ruled in Huawei's favor.

A PTS spokesman said the regulator would not make any comments during the ongoing hearing.

Huawei's Fredriksen declined to comment on the outcome of the case, but said the verdict would not affect the company's other businesses in Sweden.

The company has an R&D center in the country, an enterprise telecom business and also sells consumer electronics gadgets.

"As long as we are allowed to do business, we will remain in Sweden and then we will fight for the businesses we are allowed to do," he said.

(Reporting by Supantha Mukherjee in Stockholm; Additional reporting by Helena Soderpalm; Editing by Richard Chang)

By Supantha Mukherjee


© Reuters 2021
Stocks mentioned in the article
ChangeLast1st jan.
TELE2 AB (PUBL) -0.17% 115.45 Delayed Quote.6.58%
TELENOR ASA 0.10% 143.95 Real-time Quote.-1.44%
TELIA COMPANY AB (PUBL) -0.31% 36.98 Delayed Quote.9.05%
ZTE CORPORATION 4.12% 34.15 End-of-day quote.1.49%
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06/18EUROPEAN MIDDAY BRIEFING  : Stocks Slip as -2-
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06/18NORTH AMERICAN MORNING BRIEFING  : Dow on Track for -2-
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06/18U.S. FCC votes to advance proposed ban on Huawei, ZTE gear
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06/17U.S. FCC votes to advance proposed ban on Huawei, ZTE gear
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Financials
Sales 2021 115 B 17 797 M 17 797 M
Net income 2021 5 931 M 917 M 917 M
Net Debt 2021 588 M 90,8 M 90,8 M
P/E ratio 2021 26,5x
Yield 2021 1,08%
Capitalization 146 B 22 654 M 22 597 M
EV / Sales 2021 1,27x
EV / Sales 2022 1,11x
Nbr of Employees 73 709
Free-Float 72,0%
Chart ZTE CORPORATION
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ZTE Corporation Technical Analysis Chart | MarketScreener
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Technical analysis trends ZTE CORPORATION
Short TermMid-TermLong Term
TrendsBullishNeutralBearish
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 20
Average target price 39,13 CNY
Last Close Price 34,15 CNY
Spread / Highest target 44,9%
Spread / Average Target 14,6%
Spread / Lowest Target -31,9%
EPS Revisions
Managers and Directors
NameTitle
Zi Yang Xu President, CEO & Executive Director
Li Ying Chief Financial Officer & Executive Vice President
Da Xiong Xie Chairman-Supervisory Board
Zi Xue Li Chairman
Man Li Cai Independent Non-Executive Director
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