ZTE's stock price surged 5.09% during intraday trading on Thursday, marking a significant upward movement for the telecommunications equipment manufacturer.
The rally appears to be driven by strong institutional confidence, as recent HKEX disclosures show UBS acquired additional H-shares of ZTE, raising its stake to approximately 8.03%. This follows similar accumulation by BlackRock, which increased its H-share position earlier, indicating consecutive buying by multiple global asset managers.
Further supporting the positive sentiment are ZTE's strategic initiatives to strengthen its proprietary chip design capabilities through the establishment of Nanjing Creeks Semiconductor Technology Co., Ltd. with RMB 1 billion in registered capital. The company has also been actively conducting share buybacks, having repurchased approximately 24.56 million A-shares through June 30.