On June 9, ZTE Corporation (00763.HK) rose 3.12% in regular trading, trading at 28.72 HKD/share, with trading volume of HKD 258 million. The stock rebounded after a prior session pullback of over 5% triggered by profit-taking following a cumulative rally of more than 15% in the preceding days.

Multiple catalysts continue to underpin the rebound. ZTE announced an AI cloud PC collaboration with Tencent, further expanding its AI commercialization pathways. This follows the company's partnership with ByteDance integrating the Doubao AI assistant into smartphones, with early demand indicators such as initial product sell-outs signaling strong market interest. On the policy front, China's Ministry of Industry and Information Technology launched a 6G innovation pilot program targeting autonomous technology solutions by 2029, directly benefiting ZTE as a leading equipment vendor with extensive 6G patent reserves and pre-research capabilities dating back to 2018.

Morgan Stanley expects the company's earnings to return to positive growth in H2, supported by low base effects, noting that near-term profit risks have been largely priced in by the market.

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