On June 11, ZTE Corporation fell 3.06% in regular trading, trading at HK$25.98/share, with trading volume of HK$312 million. The stock continued to face selling pressure as short-term profit-taking extended following a sustained rally in prior sessions.

On the news front, ZTE 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 computer product launch with Tencent. After accumulating significant short-term gains, profit-taking pressure has persisted. Meanwhile, the company's Q1 net profit attributable to shareholders declined 46.58% year-over-year, with this fundamental overhang continuing to weigh on valuation.

At the sector level, the Communications Equipment industry weakened broadly today, with MEIG down 5.87%, CIG down 5.68%, TRIGIANT down 5.11%, and YOFC down 3.8%, reflecting sector-wide selling that amplified pressure on individual names.

(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.)