Stock Track | ZTE Soars 5.06% Intraday on Buyback Completion and Communications Sector Recovery

Stock Track06-02

ZTE Corporation's stock surged 5.06% during intraday trading on Tuesday, marking a significant rebound in its share price.

The price increase follows the company's completion of its first A-share buyback on May 27, where it spent RMB 6.7 billion to repurchase 19.259 million shares, fulfilling part of its previously announced RMB 10-12 billion buyback commitment. Additionally, ZTE has proposed a final dividend of RMB 4.11 per 10 shares, pending shareholder approval.

The communications equipment sector also showed broad recovery, with industry peers Trigiant rising 6.91% and YOFC gaining 3.23%, creating positive sector linkage effects that supported ZTE's price recovery.

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