On April 16, the U.S. Department of Commerce issued a disciplinary letter to ZTE, forbidding ZTE and its wholly-owned subsidiary, Shenzhen ZTE Kangxun Electronics Co., Ltd., to purchase and sell any goods, software and technology subject to U.S. export control regulations for a period of seven years. The reason why the US Department of Commerce did so was that ZTE did not withhold bonuses and issue disciplinary letters to some ZTE employees involved in export control violations, and ZTE made false statements about the punishment of employees in the letters it handed to the US in 2016 and 2017.

ZTE said that in the past two years, the company has been trying to comply with the US export control regulations, and has made great progress. The company also found and actively reported the fraud of company letters, and at the first time handled the responsible person who may be responsible. However, the US Department of Commerce completely ignores this and is unfair to ZTE, which ZTE cannot accept!

It is reported that ZTE has been suspended from trading on the Shenzhen Stock Exchange for four consecutive days since April 17. ZTE founder Hou Weigui, chairman Yin Yimin, president Zhao Xianming and a group of senior executives have been running around for the ban. Recently, ZTE required each employee to re learn the knowledge of European and American laws and pass the exam only after obtaining full marks.

▲ Hou Weigui, founder of ZTE

ZTE said that it will continue to work hard to solve problems through communication, and also has the determination to safeguard its own interests through legal means. As a global enterprise in China, all employees of ZTE will work together to overcome difficulties!

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