Hong Kong Stocks Movement | ZTE (00763) Drops Over 4% Again as Doubao Mobile Assistant Adjusts AI Features; Company Announces Major Buyback

Stock News12-16

ZTE (00763) fell more than 4% again, dropping 3.88% to HKD 26.74 by the time of writing, with a turnover of HKD 244 million.

Recently, Doubao Mobile Assistant, an AI model under ByteDance, collaborated with ZTE to launch the "Doubao Phone" Nubia M153 engineering prototype, drawing market attention. However, several leading apps, including WeChat, Taobao, Xianyu, and multiple mobile banking apps, issued "security warnings" and forced exits for Doubao Mobile Assistant. In response, Doubao Mobile Assistant announced adjustments to some of its AI capabilities.

Additionally, ZTE plans to repurchase company shares using its own funds, allocating RMB 1 billion to RMB 1.2 billion for the buyback. The company recently disclosed awareness of media reports regarding its compliance investigation under the U.S. Foreign Corrupt Practices Act. ZTE is currently in communication with the U.S. Department of Justice on the matter and intends to safeguard its rights through legal measures.

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