The mainland CCTV news quoted the announcement stating that from the date of the announcement to August 1, the export ban on ZTE was lifted under limited conditions. Li Kejia Glover, Director of Public Affairs of the US Department of Commerce, was interviewed by CGTN reporters. The company said that the 7-year ban on ZTE has not been officially cancelled. The authorized object of this announcement is a company that has already started business with ZTE, with a term of one month.
Next, ZTE may resume some production operations. ZTE’s investors seem to have seen some hopes. On the 3rd, ZTE’s A-share stock price went up, and Hong Kong stocks rose 7.6%. On the 4th, ZTE’s A shares closed up 2.6%. Although the intraday price rose more than 5%, but then fell again, closing down more than 3%.
It is worth noting that on July 2, ZTE’s share price fell to the lowest valuation given by the fund company, and the lowest fell to 12 yuan (RMB, the same below), closing at 12.23 yuan; as of July 2, ZTE Corporation After the resumption of trading, its total market value has evaporated more than 70 billion yuan.
Although it has taken an important step toward solving the problem, most brokerage research institutes are still cautious about issuing reports to ZTE. The Securities Times quoted a number of brokers as saying that they will not publish a report on A shares in ZTE. A senior brokerage analyst said that before the ban is not completely resolved, it is impossible to make an accurate judgment and it is impossible to issue a report.
Another communications industry analyst said that although the report could not be clearly issued, the current share price of ZTE should be underestimated. Even if the valuation of bankruptcy is reset, the calculation of ZTE's real estate, inventory, and patent assets should be worth 78 billion. Yuan or so.