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After more than two months, ZTE recently ushered in a turnaround. On July 6, ZTE issued a voluntary announcement stating that the company received a limited authorization under Section 764.3(a)(2) of the US Export Administration Regulations sent by the BIS Exporters Service Office on July 2. ZTE is allowed to continue to operate existing networks and equipment under limited conditions from July 2, 2018 to August 1, 2018, to provide support for existing mobile phones, conduct network security research and vulnerability disclosure, and transfer limited funds.
According to CCTV news reports, on July 2, US Eastern Time, the US Department of Commerce issued a notice stating that from the date of publication of the announcement to August 1, the export ban on ZTE was lifted under limited conditions. The announcement is for companies that have already done business with ZTE for a period of one month.
This is undoubtedly a strong shot for ZTE in a difficult situation. On the same day, ZTE's share price also rose sharply. ZTE's A-shares ended a continuous decline, opening a strong rebound and daily limit. Hong Kong stocks rose nearly 3%.
Actively promote event resolution, core competitiveness is not affected
After the refusal to make the incident happen, ZTE has been at the forefront of public opinion, and ZTE, which has been fully committed to solving the incident since its occurrence, is actively responding to all the situations that may be encountered, has always adhered to compliance, adheres to corporate credit, and does its best. Responsibility for companies, customers, employees and partners. During the period, we strengthened cash flow management and fund management, and dynamically monitored revenue and expenditure to achieve a smooth and orderly cash flow. In the case that the bank does not add new loans, it actively communicates with partners including banks and fulfills its responsibilities to partners. At the general meeting of shareholders on June 29, ZTE reviewed and approved the “Proposal of the Company to apply for a comprehensive credit line of RMB 30 billion from Bank of China Co., Ltd.” and “The company intends to apply for a comprehensive credit of USD 6 billion from the National Development Bank of Shenzhen. The amount of the bill.
Regarding the main business, ZTE said at the shareholders meeting: "The company has set up a working group and has been carrying out a detailed plan to resume operations. Everything that can be done is being done step by step." The goal is in compliance. Resume production and operation as soon as possible. In the face of complex situations, ZTE is adhering to the belief of adhering to compliance and adhering to credit, maintaining its strength, and striving to promote the resolution of events from all aspects, and to achieve the survival of enterprises and the long-term development of the future. It is also in such efforts that ZTE’s core competitiveness has not been seriously affected.
It is reported that the current ZTE R&D team maintains cohesiveness, the core backbone team is stable, and R&D work has not been seriously affected. For a company with technological innovation as its core competitiveness, talent is ZTE's most valuable asset. During the incident, ZTE’s talent team was very stable. As a company with 80,000 people, the difference between the same period of last year and the same period last year was only 100, and the core positions were not lost. At the same time, under the guidance of the compliance policy, most of the research and development work has not been seriously affected, especially the 5G capacity is still growing. After the ban is lifted, ZTE's research and development work will quickly return to the previous state in a short time.
Although the activation of the ban has affected ZTE's participation in new projects and has a certain impact on the completion of the annual results, it is fortunate that the culture and spirit of ZTE based on the deep cooperation foundation and predicament in the previous years. Most of the customers in the world have maintained confidence in ZTE and are waiting for ZTE to resume production. Once the refusal order is lifted, ZTE will go all out to resume production and operation in accordance with the plan, recover the lost time, and do its utmost to recover the loss.
5G strength blessing, ZTE revived and started again
On June 29, under the guidance of the Ministry of Industry and Information Technology, the "Top 20 Enterprises in China's Top 100 Software and Information Technology Service Competitiveness Enterprises" sponsored by the China Electronic Information Industry Association was released, and ZTE ranked fourth. ZTE has been recognized by the industry for its comprehensive competitiveness, thanks to ZTE's continuous investment in independent innovation. In May 2018, the A-share listed company's R&D investment list was released. ZTE topped the list of technology companies with 12.762 billion yuan; ZTE's annual investment in research and development remained at more than 10% of sales revenue, and it now has more than 69,000 pieces worldwide. patent application.
After experiencing the domestic “2G follow-up, 3G breakthrough, 4G global synchronization” communication technology replacement, ZTE seized the historical opportunity of 5G development, strengthened the investment in advance layout, and continued to increase investment in 5G. Currently, more than 4,500 people have been formed. The 5G wireless R&D team invests 3 billion yuan each year in the research and development of 5G wireless, and is one of the major 5G standard contributors. So far, about 3,500 standard proposals have been submitted. As of the end of 2017, ZTE has 2,000 global 5G strategic layout patents.
ZTE has released a complete 5G solution for pre-commercialization and achieved breakthroughs in core technologies, with three leading positions in 5G. First, it is the industry leader in commercial time. It has already used 5G core technology on the existing 4G network. In the 5G era, there will be a first-mover advantage, and the industry also recognizes ZTE's industry leading in key technologies. Second, in terms of performance, ZTE has an advantage in the core algorithm, and implements the algorithm optimization process on the 4G network, which can maintain the performance advantage in the 5G user burst period. Third, the scale is leading. China is the world's largest investment in the 5G market. ZTE relies on the Chinese market and has a scale advantage in the global market.
In the past 2017, ZTE has made a number of important breakthroughs in the 5G field. In the future, ZTE will further strengthen its core competitiveness, practice the standards of the world's leading export control compliance enterprises, and follow the enterprise reconstruction and transformation, which is expected to be the industry. Provide a higher value contribution.
The 5G market is about to open the door to opportunities. The booming market demand will leave ZTE with sufficient time to restore its vitality. Based on the competitiveness already built in the 5G field, ZTE will usher in an excellent opportunity to revitalize and hope for the future.