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    000063   CNE000000TK5

ZTE CORPORATION

(000063)
  Report
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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U.S. rural telecom networks need $1.8 billion to remove Huawei, ZTE equipment - FCC

09/04/2020 | 10:09pm EDT
The Huawei logo is seen at the IFA consumer technology fair, in Berlin

U.S. rural telecommunications networks, which have relied on inexpensive network equipment from China's Huawei Technologies Co and ZTE Corp, have told the government that it would cost $1.837 billion to replace those switches and routers, the Federal Communications Commission (FCC) said on Friday.

In June, the FCC formally designated Huawei and ZTE as threats to U.S. national security, a declaration that bars U.S. firms from tapping an $8.3 billion government fund to purchase equipment from the companies.

The U.S. telecommunications regulator voted last year to propose requiring rural carriers to remove and replace equipment from the two Chinese companies from U.S. networks.

FCC commissioners said the report shows the need for Congress to approve funding to replace that equipment. Congress has authorized reimbursements but has not approved the money.

The FCC said it believes the carriers would be eligible for reimbursements of about $1.62 billion.

"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, urging Congress "to appropriate funding to reimburse carriers for replacing any equipment or services determined to be a national security threat so that we can protect our networks."

The FCC identified more than 50 mostly smaller telecom companies with ZTE or Huawei equipment or using services from the companies, as well as a few larger companies like CenturyLink and Verizon Communications Inc

Verizon said its networks do not include equipment from Huawei or ZTE but has a small number of devices, called VoiceLink, made by Huawei that some customers use to make voice calls. Verizon said it expects to retire all VoiceLink devices this year.

CenturyLink said the "legacy equipment at issue cannot be used to route or redirect user traffic" and is not covered under restrictions established by Congress. The company added it has "actively been removing and replacing equipment and continue to work with federal policymakers to accelerate the process."

By David Shepardson


© Reuters 2020
Stocks mentioned in the article
ChangeLast1st jan.
LUMEN TECHNOLOGIES, INC. -0.64% 14.03 Delayed Quote.44.82%
VERIZON COMMUNICATIONS -0.04% 56.37 Delayed Quote.-4.05%
ZTE CORPORATION 4.12% 34.15 End-of-day quote.1.49%
All news about ZTE CORPORATION
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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06/18U.S. FCC Proposes Fresh Ban on Equipment From Chinese Firms Including Huawei,..
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06/17US to Step Up Crackdown on Huawei, ZTE Equipment
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06/17U.S. FCC votes to advance proposed ban on Huawei, ZTE gear
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06/14EUROPEAN MIDDAY BRIEFING  : Stocks Eye Fresh -2-
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06/14NORTH AMERICAN MORNING BRIEFING  : Stock Futures -2-
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Financials
Sales 2021 115 B 17 758 M 17 758 M
Net income 2021 6 017 M 928 M 928 M
Net Debt 2021 588 M 90,7 M 90,7 M
P/E ratio 2021 25,4x
Yield 2021 1,13%
Capitalization 140 B 21 626 M 21 625 M
EV / Sales 2021 1,22x
EV / Sales 2022 1,06x
Nbr of Employees 73 709
Free-Float 72,0%
Chart ZTE CORPORATION
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Technical analysis trends ZTE CORPORATION
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Income Statement Evolution
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Mean consensus BUY
Number of Analysts 20
Last Close Price 32,71 CNY
Average target price 39,13 CNY
Spread / Average Target 19,6%
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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