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

ZTE CORPORATION

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ZTE : China urges Sweden to reverse its Huawei, ZTE ban to avoid harming its companies

10/21/2020 | 05:04am EST
FILE PHOTO: Man wearing a face mask following the coronavirus disease (COVID-19) outbreak walks past a booth of Huawei at the 2020 China International Fair for Trade in Services (CIFTIS) in Beijing

BEIJING (Reuters) - Sweden should reverse its ban on Chinese telecommunications companies Huawei and ZTE from a planned 5G spectrum auction to avoid a "negative impact" on its own companies, said China's foreign ministry.

"China expresses strong dissatisfaction with Sweden," said foreign ministry spokesman Zhao Lijian, speaking at a regular news briefing in Beijing on Wednesday.

The Swedish Post and Telecom Authority (PTS) on Tuesday banned the use of products from Huawei and ZTE by companies taking part in the auction scheduled for next month.

"Sweden should uphold an objective and fair attitude, and correct its wrong decision, to avoid bringing a negative impact to China-Sweden economic and trade cooperation and the operations of Swedish enterprises in China," said Zhao.

PTS said it had followed advice from the country's armed forces and security service, which described China as "one of the biggest threats against Sweden".

European governments have been tightening controls on Chinese companies building 5G networks following diplomatic pressure from Washington, which alleges Huawei equipment could be used by Beijing for spying.

Huawei has repeatedly denied being a national security risk.

(Reporting by Gabriel Crossley; writing by Liangping Gao; editing by Jason Neely and Louise Heavens)


© Reuters 2020
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Financials
Sales 2020 101 B 15 383 M 15 383 M
Net income 2020 4 416 M 674 M 674 M
Net cash 2020 2 029 M 309 M 309 M
P/E ratio 2020 38,2x
Yield 2020 0,64%
Capitalization 150 B 22 800 M 22 819 M
EV / Sales 2020 1,46x
EV / Sales 2021 1,28x
Nbr of Employees 70 066
Free-Float 71,4%
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Mean consensus OUTPERFORM
Number of Analysts 22
Average target price 39,68 CNY
Last Close Price 35,48 CNY
Spread / Highest target 39,5%
Spread / Average Target 11,8%
Spread / Lowest Target -25,3%
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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