ZTE begins recovery, posts huge 1H loss

ZTE confirmed that it has resumed business operations following the lifting of the export ban of U.S. components and technology to the company imposed by the U.S. Department of Commerce.

ZTE paid US$1.0 billion in civil monetary penalties to the U.S. and placed an additional US$0.4 billion in escrow as a suspended penalty.

ZTE reported a preliminary loss of between RMB 7 billion (US$1.06 billion) to RMB 9 billion (US$1.345 billion) for the first half of 2018. On a per-share basis, this amounts to a loss of RMB 1.67–2.15 per share.

In June, ZTE said it was pursuing a 30 billion yuan ($4.9 billion) line of credit from Bank of China and a separate $6 billion credit line from China Development Bank.