On June 10, ZTE Corporation fell 3.43% in regular trading, trading at HK$27.02/share, with trading volume of HK$358 million.

On the news front, the stock had previously surged on multiple catalysts including Morgan Stanley upgrading its rating and raising its target price, as well as deepened AI collaborations with ByteDance around the Doubao AI assistant and a joint AI cloud PC product with Tencent. After accumulating significant short-term gains, profit-taking pressure continues to weigh on the stock. Meanwhile, the company's Q1 net profit attributable to shareholders declined 46.58% year-over-year, with fundamental concerns still capping valuation recovery.

At the sector level, the Communications Equipment industry declined broadly. Among sector constituents, YOFC fell 10.18%, Trigiant fell 8.08%, Fibocom fell 6.24%, and CIG fell 5.80%, with sector-wide selling intensifying pressure on individual names. Morgan Stanley previously noted that short-term earnings risk has been largely priced in, with a potential inflection point in H2 supported by low base effects.

(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.)