On June 4, ZTE Corporation (00763.HK) rose 3.86% in regular trading, trading at HKD 28.16/share, with trading volume of HKD 192 million. The stock gained momentum as Morgan Stanley upgraded ZTE's A-share rating to Equal-weight with a target price of RMB 34.30, providing valuation support.

On the news front, Morgan Stanley's rating upgrade reflects growing confidence in ZTE's strategic transformation. Meanwhile, the company's buyback program continues to advance — following the initial large-scale repurchase of approximately 19.26 million A-shares for RMB 670 million on May 27, the company spent an additional RMB 3.48 million to repurchase 100,000 shares on June 2. The sustained buyback activity signals management's confidence in the company's long-term value.

Additionally, ZTE is accelerating its pivot from connectivity to a dual-engine strategy of connectivity plus computing power, actively expanding intelligent computing data center projects. Multiple brokerages remain optimistic about the company's profit structure improving on a quarterly basis, with communications equipment sector linkage also providing support.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)