ZTE officially responded that the stock fell 9.97%: the company is operating normally.

According to CTOnews.com news on August 7, ZTE's A shares fell 9.97% before the close of trading today for unknown reasons, with a market capitalization loss of more than 15 billion yuan and Hong Kong stocks down more than 9% at one point.

ZTE official responded to Science and Technology Innovation Board Daily that the company is currently operating normally.

It was reported this morning that the German government is currently assessing whether some equipment of Huawei and ZTE should be banned from their telecommunications networks. But in fact, the German market accounts for a relatively small share of ZTE's revenue, which analysts say is not enough to cause a sharp fall.

In addition, there are market rumors today that some of ZTE's revenue accounting has been adjusted and its second-quarter results will fall short of expectations.

CTOnews.com inquired about ZTE's 2022 results and found that revenues in Europe, the United States and Oceania were 17.28 billion yuan, accounting for 14.06 percent of revenue.

On the evening of July 10, ZTE issued a performance forecast that estimated that the net profit attributable to shareholders of listed companies in the first half of 2023 was 45 million yuan to 59 million yuan, an increase of 87.63% to 146.01% over the same period last year, and basic earnings per share of 0.11 yuan to 0.14 yuan.

According to the first quarterly report of 2023, ZTE's total operating revenue was 29.143 billion yuan, up 4.34% from the same period last year, and its mother's net profit was 2.642 billion yuan, up 19.2% from the same period last year.