Caixin
Mar 23, 2022 08:30 PM
BUSINESS

ZTE Shares Jump as U.S. Court Ends Probation for Violating Sanctions

A U.S. court on Tuesday ruled that ZTE Corp should be allowed to end its five-year probation from a 2017 guilty plea of illegally shipping US technology to Iran and North Korea. Photo: IC Photo
A U.S. court on Tuesday ruled that ZTE Corp should be allowed to end its five-year probation from a 2017 guilty plea of illegally shipping US technology to Iran and North Korea. Photo: IC Photo

Shares of ZTE Corp. (000063.SZ) jumped after a U.S. court decided to end a probation imposed after the telecommunications equipment manufacturer’s 2017 guilty plea for violating sanctions, ending the criminal case against the Chinese company.

Its Shenzhen stock closed up by the daily limit of 10% on Wednesday afternoon after trading was suspended in the morning before the release of the information. ZTE’s Hong Kong stock jumped 23.1%.

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