China’s ZTE Posts 1.1 Billion First-Half Loss on Impact from US Supplier Ban

(From Reuters)

ZTE Corp (000063.SZ) (0763.HK) reported a first-half net loss of 7.8 billion yuan ($1.1 billion) on Thursday, weighed down by a ban on U.S. firms selling parts to the Chinese telecom equipment maker that forced it to cease operations for three months.

The result compared with the 7 billion to 9 billion yuan net loss estimate disclosed last month, and the 2.3 billion yuan profit booked in the same period a year earlier.

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