中兴通讯今日跌停，龙虎榜数据显示，上榜营业部席位全天成交34.97亿元，占当日总成交金额比例为 20.67%。其中，买入金额为16.16亿元，卖出金额为18.81亿元，合计净卖出2.64亿元。具体来看，机构 买入10.34亿元，卖出4.02亿元，合计净买入6.32亿元。此外，国泰海通证券上海松江区中山东路证券营 业部、深股通专用分别卖出5.22亿元、4.77亿元；深股通专用、长城证券杭州民心路证券营业部分别买 入3.71亿元、1.02亿元。 ...

Group 1: Federal Reserve and Market Impact - The Federal Reserve lowered interest rates by 25 basis points but maintained a forecast of only one rate cut in 2026 according to the "dot plot" [1] - Hong Kong stocks opened high but closed lower, with the Hang Seng Index down 0.04% to 25,530.51 points and a total turnover of HKD 182.48 billion [1] - Guangfa Securities noted that Hong Kong stocks are more sensitive to external risks, particularly with an unclear future rate cut path from the Federal Reserve and upcoming unlocks of restricted shares in December [1] Group 2: Blue-Chip Stocks Performance - HSBC Holdings reached a new high, closing up 2.06% at HKD 114, contributing 43.23 points to the Hang Seng Index [2] - Other blue-chip stocks like Hansoh Pharmaceutical and Henderson Land also saw gains, while Alibaba Health and Sands China faced declines [2] Group 3: Sector Performance - Large tech stocks generally declined, with Alibaba down 1.7% and Tencent down 0.25% [3] - The wind power sector remained strong, with Goldwind Technology and Dongfang Electric seeing significant gains [3] - Lithium battery stocks were active, with companies like CATL and Ganfeng Lithium showing positive performance amid rising production costs [4] Group 4: Chip Sector Developments - The chip sector continued to decline, with Huahong Semiconductor down 4.8% and SMIC down 2.26% [4] - The U.S. government allowed NVIDIA to export its H200 AI chips to China, which may boost domestic AI development and increase demand for local chips [5] Group 5: Real Estate Sector Trends - Domestic property stocks generally fell, with Agile Group down 7.58% and Sunac China down 2.22% [6] - Discussions around mortgage interest subsidy policies have increased, which could stimulate potential homebuyer demand if implemented [6] Group 6: Notable Stock Movements - ZTE Corporation faced a significant drop of 13.08% following compliance investigation news [7] - Red Star Macalline's stock fell 14.39% due to unusual trading activity, despite the company stating that its operations remain normal [8] - Lens Technology saw a slight increase of 2.05% after announcing a potential acquisition [9] - Asia Fortune's stock surged 80.87% after announcing a voluntary cash offer for shares [10]

| 代码 | 名称 | 现价 涨跌 涨跌幅 | | --- | --- | --- | | HSI | 恒生指数 | 25530.51 -10.27 -0.04% | | HSTECH 恒生科技 | | 5534.59 -46.51 -0.83% | | HSBIO | 恒生生物科技 | 15049.99 -43.04 -0.29% | | HSCEI | 恒生中国企业指数 | 8934.28 - 20.41 - -0.23% | | HSCI | 恒生综合指数 | 3902.14 - - 11.02 - - 0.28% | 12月11日，香港恒生指数收跌0.04%，恒生科技指数跌0.83%。 中兴通讯跌超13%。中兴通讯今日公告，公司已知悉近期新闻媒体针对本公司涉及美国《反海外腐败法》合规性调查的报道。公司正与美国司法部就有 关事项进行沟通，并将通过法律等手段坚决维护自身权益。公司反对一切形式的腐败行为，对任何可能相关的个人持零容忍态度。公司目前生产经营一切 正常。 编辑丨瑜见 半导体板块大跌，天域半导体跌6%，华虹半导体跌近5%，中芯国际、上海复旦跌超2%。 | 代码 | 名称 | 现价 | 涨跌幅 ▲ ...

Market Overview - The Hong Kong stock market indices opened high but closed lower, reflecting a lack of improvement in market sentiment following the US interest rate cut [1] - The Hang Seng Index fell by 0.04%, the Hang Seng China Enterprises Index decreased by 0.23%, and the Hang Seng Tech Index dropped by 0.83% after peaking with a decline of over 1.1% [1] Sector Performance - Large technology stocks showed mixed performance, with Meituan rising by 1.5%, while Alibaba fell by 1.7% and Tencent experienced a slight decline [1] - The non-ferrous metals sector, including gold, copper, and aluminum stocks, exhibited a notable high open but low close, with China Aluminum and Lingbao Gold among the top decliners [1] - Semiconductor stocks continued to struggle, with leading company SMIC dropping over 2% for three consecutive days [1] - ZTE Corporation saw a significant decline of 13%, leading the drop in telecom equipment stocks [1] Notable Stock Movements - Consumer electronics stocks rebounded, with Smoore International surging by 8.5% due to high industry demand and ample orders [1] - Wind power stocks, led by Goldwind Technology, saw an increase, while lithium battery and banking stocks mostly rose, with local banks Standard Chartered and HSBC reaching historical highs [1]

Core Viewpoint - ZTE Corporation's stock has experienced significant declines due to negative overseas news, particularly regarding potential payments to the U.S. to resolve overseas bribery allegations [1][3] Stock Performance - ZTE's A-shares closed at 37.82 yuan, hitting the daily limit down, with a market capitalization of 180.91 billion yuan [1] - H-shares fell over 13% to 27.46 HKD, with a total market value of 131.36 billion HKD [1] - The company's stock has seen a turbulent period, with A-shares down nearly 10.14% month-to-date and down approximately 4.93% year-to-date [9] Financial Performance - In Q3, ZTE reported revenue of 28.967 billion yuan, a year-on-year increase of 5.11%, but net profit dropped 87.84% to 264 million yuan [10] - For the first three quarters, total revenue reached 100.52 billion yuan, up 11.63% year-on-year, while net profit fell 32.69% to 5.322 billion yuan [11] Business Segments - ZTE's computing power business has seen explosive growth, with revenue increasing by 180% year-on-year, accounting for 25% of total revenue [12] - Revenue from servers and storage grew by 250%, and data center product revenue increased by 120%, becoming key drivers of revenue growth [13] R&D Investment - The company invested 17.81 billion yuan in R&D in the first three quarters, representing about 18% of total revenue, with a significant portion allocated to computing power-related technologies and products [14] Market Outlook - Tianfeng Securities views ZTE as a leading player in the domestic ICT sector, adapting to the digital economy and expanding into IT and AI computing power [15] - The firm has adjusted its profit forecasts for 2025-2027, projecting net profits of 7.725 billion yuan, 9.029 billion yuan, and 10.459 billion yuan, with corresponding EPS of 1.61 yuan, 1.89 yuan, and 2.19 yuan, maintaining a "buy" rating [15]

Market Overview - The A-share market experienced a decline, with the Shanghai Composite Index falling by 0.7%, the Shenzhen Component Index down by 1.27%, and the ChiNext Index decreasing by 1.41% [3][4] - The North Stock 50 Index saw a significant increase of nearly 4% [3] Sector Performance - Real estate, retail, cultural media, and communication equipment sectors faced the largest declines, while sectors such as nuclear power, wind power, newly listed stocks, and commercial aerospace concepts showed strength [3][4] - The controllable nuclear fusion concept stocks surged, with companies like Yongding Co., Xue Ren Group, and Hualing Cable seeing notable gains [5] Individual Stock Movements - Stocks such as Tianli Composite (+30%), Haheng Huaton (+15.15%), and Gao Fu Fu Fen (+12.01%) experienced significant increases [6] - Conversely, stocks like Deyi Cultural (-13.38%), China Wuyi (-10.09%), and Tianma Technology (-10.02%) faced substantial declines [7] Trading Volume and Market Sentiment - The total trading volume in the Shanghai and Shenzhen markets reached 1.86 trillion, an increase of 78.6 billion compared to the previous trading day, with over 4,300 stocks declining [9] - Main funds saw net inflows into sectors like wind power equipment, aerospace, and energy metals, while there were net outflows from semiconductors, media, and real estate sectors [11] Analyst Insights - Hu Long Securities indicated that the continuation of positive policies in 2026 could provide favorable support for the market [12] - Everbright Securities suggested that the upcoming significant meeting in December may boost market sentiment and lead to a rebound [13] - Wanlian Securities noted that the current PB valuation of the brokerage sector is at a near ten-year low, indicating potential for valuation recovery [14]

Market Overview - On December 11, the three major stock indices in Shanghai and Shenzhen opened slightly higher but ended the day with significant declines, with the Shanghai Composite Index down 0.70% to 3873.32 points and the Shenzhen Component Index down 1.27% to 13147.39 points [1] - The North Exchange 50 Index experienced a notable increase, rising 3.84% to 1443.17 points, with a peak intraday gain of approximately 6.68% [1] Sector Performance - The new energy sector, particularly the stock of Moer Thread, surged by 28.04%, contributing to the overall strong performance of newly listed stocks [1] - Sectors such as controllable nuclear fusion, banking, and sci-tech growth showed significant gains, while sectors like aquatic products, Hainan, and internet celebrity economy faced notable declines [1] Automotive Industry - In November, China's automotive production and sales reached 3.532 million and 3.429 million units respectively, marking a year-on-year increase of 2.8% and 3.4%, with production exceeding 3.5 million units for the first time [3] - The performance of the passenger vehicle market remained stable, while the commercial vehicle market continued to improve, and the new energy vehicle segment showed strong growth [3] Mobile Phone Market - In October 2025, the domestic mobile phone market shipped 32.267 million units, a year-on-year increase of 8.7%, with 5G phones accounting for 90.9% of total shipments [4] - From January to October 2025, the total mobile phone shipments reached 252 million units, with 5G phones making up 86.0% of the total [4] Company Compliance - ZTE Corporation announced that its operations are normal and it is currently in communication with the U.S. Department of Justice regarding compliance investigations related to the U.S. Foreign Corrupt Practices Act [5] - The company emphasizes its commitment to strengthening its compliance system and maintaining a zero-tolerance policy towards corruption [5]

【主力资金监控：中兴通讯净卖出超38亿】智通财经12月11日电，智通财经星矿数据显示，今日主力资 金净流入电网设备、电力设备、电新行业等板块，净流出电子、通信、计算机等板块，其中电子板块净 流出超97亿元。个股方面，金风科技资金净买入10.24亿元位居首位，永鼎股份、蓝思科技、新易盛主 力资金净流入居前；中兴通讯遭净卖出超38亿元位居首位，工业富联、永辉超市、天孚通信主力资金净 流出额居前。 转自：智通财经 ...

Core Viewpoint - ZTE Corporation is currently under investigation by the U.S. Department of Justice regarding compliance with the Foreign Corrupt Practices Act, and the company is committed to defending its rights through legal means while maintaining its operational normalcy [3][4]. Group 1: Compliance and Legal Matters - The company is aware of media reports concerning its compliance investigation and is in communication with the U.S. Department of Justice [3]. - ZTE emphasizes its commitment to strengthening its compliance system and opposes all forms of corruption, maintaining a zero-tolerance policy towards any related individuals [3]. Group 2: Stock Performance and Market Reactions - On December 11, ZTE's A-shares fell over 7% and H-shares dropped more than 9% during the morning session, with its subscription warrant "ZTE BNP Paribas 65 Call A" declining over 28% [4][9]. - Following the announcement of the "Doubao" mobile assistant by ByteDance, ZTE's stock initially surged, with A-shares hitting a daily limit and H-shares rising nearly 14%, but subsequently, both A and H shares fell over 20% from their highs [4]. Group 3: Financial Instruments and Market Dynamics - The "ZTE BNP Paribas 65 Call A" warrant was issued at a price of 0.29 HKD with an exercise price of 40 HKD, and its value has significantly decreased due to the drop in ZTE's H-share price [6]. - Analysts note that the warrant will only have value if ZTE's H-share price exceeds the exercise price at expiration, otherwise it will become worthless [6]. Group 4: Future Outlook and Analyst Sentiment - Analysts remain optimistic about ZTE's future, highlighting its leading capabilities in chip design and development, particularly in the fields of computing and switching chips [7]. - ZTE's self-developed chips and solutions are being utilized by major domestic companies, indicating a strong position to benefit from the domestic computing power development trend [8].

消息面上，12月11日午间，中兴通讯发布公告称，公司董事会已知悉近期新闻媒体针对公司涉及美国 《反海外腐败法》合规性调查的报道。公司正与美国司法部就有关事项进行沟通，并将通过法律等手段 坚决维护自身权益。 中兴通讯强调，公司始终坚持全面强化合规体系建设，致力于建设行业领先的合规体系。公司反对一切 形式的腐败行为，对任何可能相关的个人持零容忍态度。同时，中兴通讯表示，公司目前生产经营一切 正常。 智通财经APP获悉，中兴通讯(00763)今日AH股双双大跌，A股午后逼近跌停，H股一度跌超13%。截至 发稿，跌12.2%，报27.78港元，成交额21.73亿港元。 ...