On June 5, ZTE Corporation rose 3.03% in regular trading, trading at HK$29.52/share, with trading volume of HK$430 million. The stock continued its upward momentum driven by multiple catalysts.
On the policy front, the Ministry of Industry and Information Technology announced a 6G innovation development pilot program, aiming to produce a batch of self-developed 6G technology solutions and cultivate new business application scenarios by 2029. ZTE, as a core player in next-generation communications infrastructure, stands as a direct beneficiary. Additionally, the company recently announced a deep strategic partnership with Tencent to launch an AI cloud computer product powered by Tencent WorkBuddy, integrating Tencent Cloud computing power and its Hunyuan large model capabilities. Morgan Stanley also upgraded ZTE A-shares to Equal-weight with a target price of RMB 34.30, while the company's ongoing buyback program — having repurchased approximately 19.26 million A-shares totaling RMB 670 million — continues to signal management confidence.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
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