HK Stock Market Move | ZTE Corporation (00763) fell more than 4% again. Bean phone assistant adjusts some AI capabilities. The company recently announced a large buyback.

ZTE Corporation (00763) fell by over 4%, ending at a decrease of 3.88% at 26.74 Hong Kong dollars with a trading volume of 2.44 billion Hong Kong dollars. On the news front, ByteDance's AI large model Douyin mobile assistant, in collaboration with ZTE Corporation, launched the "Douyin mobile" Nubia M153 engineering machine, which has attracted attention. However, several top applications have initiated a "encirclement" against it, with WeChat, Taobao, Xianyu, and several mobile banking apps continuously popping up "security warnings" and forcing it out. The Douyin mobile assistant announced that it will adjust some of its AI capabilities. In addition, ZTE Corporation plans to use its own funds of 1-1.2 billion yuan to repurchase company stocks. The company recently issued an announcement stating that it is aware of recent media reports regarding investigations into its compliance with the US Foreign Corrupt Practices Act. The company is currently in communication with the US Department of Justice on these matters and will firmly uphold its own rights through legal means.