On the evening of May 9th, ZTE Corporation issued an announcement stating that the company’s announcement on April 20, 2018 mentioned that BIS had issued an order to activate the refusal order and that due to the refusal order, the company’s main business activities could no longer be carried out. .
However, in the announcement, ZTE emphasized that at present, the company has sufficient cash and adheres to commercial credit on the premise of legal compliance.
ZTE also stated that the company and related parties actively communicate with relevant US government agencies to promote the U.S. government to adjust or cancel the refusal order and to push things forward in a good direction.
Just a few days ago, ZTE Corporation also issued an announcement. Due to the influence of the US Department of Commerce’s Bureau of Industry and Security (BIS) activating the refusal order, the 2017 annual general meeting of shareholders will be postponed by the company’s board of directors. ZTE expects that the 2017 general meeting of shareholders will be held before June 30, 2018.