IT House March 23 news, ZTE today announced: On March 22, 2022 (US time), the Company received a court judgment ruling not to revoke ZTE's probation (that is, the probation period will expire on March 22, 2022 (US time)) without any penalty, and confirmed that the term of office of the Ombudsman will end on march 22, 2022 (US time).
ZTE said that after the company's application to the Shenzhen Stock Exchange, the company's A shares will resume trading from the opening of the market on the afternoon of March 23, 2022. At the same time, ZTE has applied to the Hong Kong Stock Exchange to resume trading of the Company's H shares on the Stock Exchange from 1:00 p.m. on 23 March 2022.
IT Home learned that ZTE also said in the announcement that the company is committed to building a world-class compliant enterprise, adhering to compliance as the cornerstone of strategic development and the bottom line of operation, complying with the applicable laws and regulations of the country where the business is located, and comprehensively carrying out the construction of the compliance system. ZTE is full of confidence in the effective operation and continuous improvement of the compliance management system, and will continue to fulfill its responsibilities to customers, employees, shareholders and partners around the world, and actively promote innovation and sustainable development of the global ICT industry.
▼ Antecedents
In the final stages of the probation period, the CIA found that the company and Professor Zhang Jikun of the Georgia Institute of Technology used a study visa to send people to the United States for research work, so they were indicted last year. To some extent, this incident may lead to the suspension of the sentence, but fortunately, in the end, the judge did not embarrass ZTE at the hearing, and ZTE finally passed the investigation without any danger.
"ZTE intends to disclose major matters, so trading is temporarily suspended today, and it is reported that it won the lawsuit in the United States and ended the five-year observation period"