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JiaHoong
2021-08-30

ZTE's Hong Kong shares fall most in 17 months after results

** Shares of information and communication technology systems developer ZTE Corp fall 8.2% to HK$24.

ZTE's Hong Kong shares fall most in 17 months after results

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top decliner on the Hang Seng sub-index tracking information technology firms and the fifth biggest loser on Hang Seng Composite Index</p>\n<p>** ZTE says net profit up 119.6% year-on-year to 4.1 bln yuan ($634 mln) and it will increase investment in chip, algorithm and network architecture to assure its technological edge while helping carriers to build 5G networks</p>\n<p>** Co had earlier forecast its H1 profit to rise between 104.6% and 131.5% year-on-year</p>\n<p>** Citi maintains \"buy\" rating on the stock and lifts PT to HK$37.70 from HK$32.03</p>\n<p>** Shenzhen-listed shares falls 4.4% to 32.89 yuan, the lowest since July 9</p>\n<p>** The Hong Kong Hang Seng sub-index tracking information technology firms eases 0.1% while the Hang Seng Composite Index gains 0.4%</p>\n<p>** The Hang Seng China Enterprises Index climbs 0.1% and the benchmark index is up 0.3%</p>\n<p>** As of last close, the Hong Kong-listed stock had surged 38.2% this year</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"00763":"中兴通讯"},"is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"2163093120","content_text":"** Shares of information and communication technology systems developer ZTE Corp fall 8.2% to HK$24.75, biggest intraday decline since March 2020\n** Stock hit lowest since July 26; top decliner on the Hang Seng sub-index tracking information technology firms and the fifth biggest loser on Hang Seng Composite Index\n** ZTE says net profit up 119.6% year-on-year to 4.1 bln yuan ($634 mln) and it will increase investment in chip, algorithm and network architecture to assure its technological edge while helping carriers to build 5G networks\n** Co had earlier forecast its H1 profit to rise between 104.6% and 131.5% year-on-year\n** Citi maintains \"buy\" rating on the stock and lifts PT to HK$37.70 from HK$32.03\n** Shenzhen-listed shares falls 4.4% to 32.89 yuan, the lowest since July 9\n** The Hong Kong Hang Seng sub-index tracking information technology firms eases 0.1% while the Hang Seng Composite Index gains 0.4%\n** The Hang Seng China Enterprises Index climbs 0.1% and the benchmark index is up 0.3%\n** As of last close, the Hong Kong-listed stock had surged 38.2% this year","news_type":1},"isVote":1,"tweetType":1,"viewCount":298,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":1,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}