ZTE (00763.HK) swelled 7.47% to close at $20.85 in the morning session, and once peaked at $21.6. Turnover amounted to $1 billion, with a trading volume of 48.616 million shares. ZTE's A-shares (000063.SZ) once stopped hiking, and escalated 7.88% to close at RMB33.82 in the morning session.

Some organizations released review suggesting that there are 2 main reasons for ZTE's sharp hike this morning, with one being that ByteDance's Doubao model is going to be embedded in mobile phones.

ByteDance may have finally approached ZTE, after which the establishment of a new brand would not be ruled out, some market sources said. However, there is no authoritative conclusion on this matter yet, with continuous attention needs to be paid to the follow-up progress.

Another reason is that ByteDance now has a huge demand for ASIC chips for inference, while Nvidia (NVDA.US) and Ascend may be more expensive. There may be a business fitting point for ZTE.
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AAStocks Financial News
Web Site: www.aastocks.com

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