Core Insights - ZTE Corporation reported a decrease in the number of shareholders, with 407,812 shareholders as of October 10, down by 35,040 from the previous period, representing a decline of 7.91% [2] - The stock price of ZTE closed at 54.03 yuan, an increase of 7.20%, with a cumulative increase of 18.38% since the concentration of shares began [2] - The latest margin trading data shows a total margin balance of 12.305 billion yuan, with a financing balance of 12.279 billion yuan, reflecting an increase of 2.077 billion yuan or 20.35% during the current concentration period [2] Financial Performance - For the first half of the year, ZTE achieved operating revenue of 71.553 billion yuan, a year-on-year increase of 14.51%, while net profit was 5.058 billion yuan, a year-on-year decrease of 11.77% [2] - The basic earnings per share were reported at 1.0600 yuan, with a weighted average return on equity of 6.85% [2] Analyst Ratings - In the past month, ZTE received buy ratings from four institutions, with the highest target price set at 57.10 yuan by Guosen Securities on October 9 [2]

Market Overview - The Shanghai Composite Index rose by 0.10% on October 16, with seven industries experiencing gains, led by coal and banking sectors, which increased by 2.35% and 1.35% respectively [1] - The communication industry also saw a rise of 0.74% [1] - Conversely, the steel and non-ferrous metals industries faced declines, with decreases of 2.14% and 2.06% respectively [1] Capital Flow Analysis - The main capital flow showed a net outflow of 54.29 billion yuan across both markets, with five industries recording net inflows [1] - The banking sector led the net inflow with 939 million yuan, followed by the communication industry with a net inflow of 895 million yuan [1] - A total of 26 industries experienced net outflows, with the non-ferrous metals sector seeing the largest outflow of 9.242 billion yuan, followed by the electronics sector with 7.403 billion yuan [1] Communication Industry Performance - The communication industry had a net inflow of 895 million yuan, with 125 stocks in the sector, of which 23 rose and 100 fell [2] - Notable stocks with significant net inflows included ZTE Corporation, which saw an inflow of 1.327 billion yuan, followed by Zhongji Xuchuang and Xinyi Sheng with inflows of 672 million yuan and 276 million yuan respectively [2] - The sector also had six stocks with net outflows exceeding 100 million yuan, with Zhongtian Technology, Guanghetong, and Yongding shares leading the outflows at 228 million yuan, 136 million yuan, and 129 million yuan respectively [3] Top Gainers in Communication Sector - The top gainers in the communication sector included: - ZTE Corporation: +7.20% with a turnover rate of 8.37% and a capital flow of 1.327 billion yuan [2] - Zhongji Xuchuang: +3.63% with a turnover rate of 3.10% and a capital flow of 671 million yuan [2] - Xinyi Sheng: +0.67% with a turnover rate of 3.52% and a capital flow of 276 million yuan [2] Top Losers in Communication Sector - The top losers in the communication sector included: - Zhongtian Technology: -2.73% with a capital outflow of 227 million yuan [3] - Guanghetong: -5.18% with a capital outflow of 136 million yuan [3] - Yongding Shares: -3.37% with a capital outflow of 128 million yuan [3]

Core Insights - Citigroup's long position in ZTE Corporation's H-shares increased from 6.97% to 7.2% as of October 10, 2025 [1] Company Summary - Citigroup's stake in ZTE Corporation reflects a growing confidence in the company's performance and potential [1]

Group 1 - The company, ZTE Corporation, announced that its board meeting will be held on October 28, 2025, in Shenzhen to approve the third quarter results for the nine months ending September 30, 2025 [1] - The meeting will also address any other matters that may arise during the session [1]

承董事會命 方榕 董事長 深圳，中國 二零二五年十月十六日 香港交易及結算所有限公司及香港聯合交易所有限公司對本公告之內容概不負責，對其準確性 或完整性亦不發表任何聲明，並明確表示，概不對因本公告全部或任何部份內容而產生或因倚 賴該等內容而引致之任何損失承擔任何責任。 ZTE CORPORATION 中興通訊股份有限公司 （于中華人民共和國註冊成立的股份有限公司） （股份代號：00763） 董事會會議通告 本公司及董事會全體成員保證信息披露的內容真實、準確和完整，沒有虛假記載、誤導性陳述或重大遺 漏。 中興通訊股份有限公司（「本公司」）董事會（「董事會」）謹此宣佈，董事會會議 將於二零二五年十月二十八日（星期二）在中華人民共和國（「中國」）廣東省深圳 市南山區高新技術產業園科技南路中興通訊大廈舉行，藉以（其中包括）批准本公司 及其附屬公司截至二零二五年九月三十日止九個月之第三季度業績及其發佈，以及處 理任何其他事項（如有）。 於本公告日期，本公司董事會包括執行董事：徐子陽；非執行董事：方榕、閆俊武、諸為民、張 洪；獨立非執行董事：莊堅勝、王清剛、徐奇鵬；以及職工董事：李妙娜。 ...

Core Viewpoint - The communication equipment sector experienced a 1.1% increase on October 16, with Wanma Technology leading the gains, while the Shanghai Composite Index rose by 0.1% and the Shenzhen Component Index fell by 0.25% [1] Group 1: Stock Performance - Wanma Technology (300698) closed at 50.09, up 10.94% with a trading volume of 237,000 shares and a transaction value of 1.177 billion [1] - Meixin Technology (301577) closed at 63.16, up 7.29% with a trading volume of 48,500 shares and a transaction value of 308 million [1] - ZTE Corporation (000063) closed at 54.03, up 7.20% with a trading volume of 3.3696 million shares and a transaction value of 18.015 billion [1] - Other notable performers include Nanjing Nengmiao (600775) up 4.80% and Zhongguang Fanglei (300414) up 4.25% [1] Group 2: Capital Flow - The communication equipment sector saw a net inflow of 868 million from institutional investors, while retail investors experienced a net outflow of 334 million [2] - Major stocks like ZTE Corporation and Wanma Technology attracted significant institutional investment, with ZTE receiving a net inflow of 95.2 million [3] - Conversely, retail investors withdrew from several stocks, including Wanma Technology, which saw a net outflow of 51.64 million [3]

市场冲高回落，三大指数盘中一度集体翻绿。南财金融终端显示，截至收盘，沪指涨0.1%，深成指跌0.25%，创业板指涨0.38%。 银行板块集体上涨，农业银行盘中逼近历史高点。 下跌方面，可控核聚变概念股集体大跌，合锻智能触及跌停。 沪深两市成交额1.93万亿元，较上一个交易日缩量1417亿，自9月10日以来再度失守2万亿。 个股方面，阳光电源成交额超204亿元居首，中兴通讯、立讯精密、中际旭创成交额靠前。 | 泊深A股 | 上证A股 | 深证A股 创业板 | 科创板 风险警示 | | | | | | | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | --- | | 代码 | | 名称 | 涨幅 | 最新价 | | | | 换手率 | | 成交额 ▼ | | 1 300274 | | 阳光电源 | +7.66% | 163.00 | +11.60 | -0.04% | 1.20 | 8.07% | 10.41% | 204.59亿 | | 2 000063 | | 中兴通讯 | +7.20% | 54.03 | +3.63 | +0 ...

Market Overview - The A-share market showed mixed performance on October 16, with the Shanghai Composite Index up by 0.1%, the Shenzhen Component down by 0.25%, and the ChiNext Index up by 0.38% [1][2] - The total trading volume in the Shanghai and Shenzhen markets was 1.93 trillion yuan, a decrease of 141.7 billion yuan compared to the previous trading day, with nearly 4,200 stocks declining [1][2] Sector Performance - The coal sector experienced significant gains, with major companies like Dayou Energy and Antai Group hitting the daily limit up, while China Coal Energy and Zhengzhou Coal Electricity also saw substantial increases [2] - Financial stocks, including insurance and banking, performed strongly, with China Life Insurance rising over 5% and China Pacific Insurance up by 4% [2] Capital Flow - Main capital inflows were observed in the automotive, communication equipment, and banking sectors, with notable net inflows into Chang'an Automobile, Changshan Beiming, and ZTE [4] - Conversely, significant net outflows were recorded in software development, non-ferrous metals, and home appliances, with Zijin Mining and Sanhua Intelligent Control facing the largest sell-offs [4] Institutional Insights - Everbright Securities predicts that the market will likely maintain a volatile and consolidating trend in October [6] - Guodu Securities notes that the Shanghai Composite Index has recovered above the five-day moving average and returned to the 3,900-point level, indicating a decrease in short-term market risks, although trading volume remains low [6] - CITIC Securities highlights a reduction in market risk appetite, suggesting a rotation between high and low-performing sectors [6]

Core Insights - The main focus of the articles is on the significant inflow of capital into specific stocks as of October 16, with notable amounts recorded for various companies across different sectors [1][2][3] Group 1: Capital Inflows - The top stocks by capital inflow include Chang'an Automobile (¥1.109 billion), Changshan Beiming (¥1.004 billion), and ZTE Corporation (¥0.952 billion) [1] - Other notable inflows were seen in companies such as Zhongji Xuchuang (¥0.686 billion), Shannon Chip (¥0.676 billion), and Zhaoyi Innovation (¥0.634 billion) [1][2] - The banking sector also saw significant inflows, with Agricultural Bank of China receiving ¥0.527 billion and Industrial and Commercial Bank of China receiving ¥0.495 billion [1][3] Group 2: Stock Performance - Chang'an Automobile experienced a price increase of 3.82%, while Changshan Beiming saw a rise of 9.98% [2] - ZTE Corporation's stock rose by 7.2%, and Zhongji Xuchuang's increased by 3.63% [2] - Shannon Chip had the highest increase at 16.7%, indicating strong market interest [2] Group 3: Sector Analysis - The automotive sector is represented by companies like Chang'an Automobile and Chengfei Integration, both showing positive capital inflows and stock performance [1][2] - The banking sector, including Agricultural Bank and Industrial and Commercial Bank, also demonstrated resilience with steady inflows [1][3] - The electronics and communication sectors, represented by companies like ZTE Corporation and Shannon Chip, are attracting significant investment, reflecting a growing interest in technology stocks [1][2]

Investment Rating - The overall investment rating for the communication sector is "Buy" for several key companies, including ZTE Corporation, StarNet, and Ruize Technology, among others [6][9][16]. Core Insights - The communication sector is expected to see a 15% year-on-year growth in net profit for Q3 2025, with a significant 73% growth when excluding the three major operators and ZTE Corporation [1][12]. - The telecom operators are projected to maintain steady profit growth, with a 5% increase in net profit year-on-year [2][12]. - The AI computing demand is anticipated to drive growth in the IDC sector, with a 10% increase in net profit expected [2][12]. - The optical communication segment is expected to experience a remarkable 167% year-on-year growth in net profit, driven by high demand for 800G optical modules [3][12]. - The IoT sector is projected to see a 3% increase in net profit, with specific companies like Ruize Technology expected to perform well [4][12]. - The fiber optic cable segment is expected to recover, with a 14% increase in net profit, benefiting from stable pricing and increased demand [5][12]. Summary by Sections Telecom Operators - The telecom operators' net profit is expected to grow by 5% year-on-year, with cumulative telecom business revenue reaching 1,182.1 billion yuan from January to August 2025, a 0.8% increase [2][12]. AI Computing and IDC - The IDC sector is projected to benefit from the growing demand for intelligent computing centers, with a 10% increase in net profit expected [2][12]. Optical Communication - The optical communication segment is expected to see a 167% year-on-year increase in net profit, driven by strong demand for 800G optical modules and the anticipated growth of 1.6T optical modules [3][12]. IoT - The IoT sector is expected to achieve a 3% increase in net profit, with specific companies like Ruize Technology and others showing strong performance [4][12]. Fiber Optic Cables - The fiber optic cable segment is expected to see a 14% increase in net profit, supported by stable pricing and increased demand from global data center construction [5][12]. Key Recommendations - Recommended stocks include Ruize Technology, StarNet, ZTE Corporation, and others, with target prices reflecting strong growth potential [9][16].