ZTE Shares Retreat After Soaring on 5G Chips
Zhang Yushuo
DATE:  Jun 19 2020
/ SOURCE:  Yicai
ZTE Shares Retreat After Soaring on 5G Chips ZTE Shares Retreat After Soaring on 5G Chips

(Yicai Global) June 19 -- ZTE's shares finished a one-day rally caused by the Chinese firm saying that it is mass-producing 7-nanometer chips which are central for leveraging fifth-generation wireless networks.

ZTE’s Shenzhen-listed shares [SHE:000063] gyrated wildly this morning after closing 6.6 percent up at CNY42.38 (USD6) yesterday. Its Hong Kong shares [HK:0763] were 5.8 percent down today after rising nearly 22 percent to HKD27.75 (USD3.60) yesterday.

The company is also importing 5-nm semiconductors that are used in 5G base stations, the Shenzhen-based company said in a statement yesterday. This is something that it had already mentioned in last year's annual report, it added.

ZTE's global patents exceed 36,000 while over 4,100 of them are 5G patents, according to data disclosed at the end of last year.

The Chinese telecoms firm cannot buy US-made technologies till March 13, 2025, as the US commerce department stipulated in 2018, citing Iran sanction violations.

Editor: Emmi Laine

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Keywords:   ZTE,chip,5G,5nm