On June 12, ZTE Corporation (00763.HK) declined 3.13% in regular trading, trading at 25.34 HKD/share, with turnover of 588 million HKD.

The stock continues to face profit-taking pressure following a sharp rally driven by Morgan Stanley upgrading ZTE to Overweight with a target price of 39 HKD, as well as deepened AI collaborations with ByteDance and Tencent. The sustained selling has been compounded by JP Morgan reducing its stake in ZTE H-shares from 7.65% to 6.73% as of June 5, with shares sold at an average price of approximately 30 HKD. Fundamental headwinds persist, as the company reported a 46.58% year-over-year decline in Q1 net profit attributable to shareholders, continuing to weigh on valuation sentiment.

Within the Communications Equipment sector, performance remains mixed. Among peers, TRIGIANT fell 5.24%, SYNERTONE declined 2.63%, and YOFC dropped 1.91%, while FS.COM gained 5.15% and CIG rose 4.41%.

(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.)