Wednesday, May 9, 2018

ZTE: Major operating activities have ceased

ZTE stated that "the major operating activities of the Company have ceased" due to the export ban imposed on it by the U.S. Commerce Department' Bureau of Industry and Security (BIS).

The announcement was made in a regulatory filing with the Hong Kong Stock Exchange. Trading of the company's shares have been suspended since April 16th.

ZTE also said that it is actively communicating with the U.S. government in order to secure a reversal of the ban.

http://res.www.zte.com.cn/mediares/zte/Investor/20180509/E1.pdf


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