zte's revenue in the third quarter of this year fell by 35% year-on-year, and the group's management believes this is due to the slowdown in China's network capital expenditure.
Goldman Sachs released a research report on the Zhongxing Communications (00763) maintaining a 'Neutral' rating with a target price of HKD 22. The company's revenue in the third quarter of this year fell by 35% year-on-year, and the group's management believes this is due to the slowdown in China's network capital expenditure.
Goldman Sachs stated that they remain optimistic about ZTE's overseas business and business for enterprises and consumers driven by technological innovations such as artificial intelligence, digitalization, satellite communications, and foldable devices. However, the slowdown in China's infrastructure capital spending momentum will limit its main business in the short term.
