ZTE delays release of annual results after US export restrictions

Chinese telecommunications equipment maker ZTE Corp has delayed the release of its annual results following the introduction of export restrictions on US suppliers that provide key components to the firm, Reuters reported. ZTE could not finalize annual results “pending a thorough self-assessment on the potential impacts of the restriction measures on the business and operation of the group,” according to a filing to the Hong Kong Stock Exchange. The firm will reportedly appeal against the US Commerce Department’s restrictions for alleged violation of sanctions on Iran. Hong Kong-listed shares of ZTE had dropped 20% to HK$14.16 (US$1.83) in 2016 before trading was suspended on March 7.