Stock Track | ZTE Soars 5.00% Intraday on 6G Policy Catalyst, Tencent Partnership and Morgan Stanley Upgrade

Stock Track06-05 10:07

ZTE's stock soared 5.00% during intraday trading on Friday, continuing its recent positive momentum.

The surge comes as ZTE benefits from multiple catalysts. On the policy front, the Ministry of Industry and Information Technology announced a 6G innovation development pilot program, aiming to produce self-developed 6G technology solutions by 2029, positioning ZTE as a direct beneficiary as a core player in next-generation communications infrastructure.

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.

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