China’s ZTE says main business operations have ceased due to US ban

People at ZTE's booth during Mobile World Congress in Barcelona, Spain, February 27, 2017.

Paul Hanna | Reuters

People at ZTE’s booth during Mobile World Congress in Barcelona, Spain, February 27, 2017.

ZTE’s main business operations have ceased due to a ban imposed by the U.S. government, however the Chinese firm is actually trying to hold the ban modified or reversed, the item said in exchange filings late on Wednesday.

ZTE last month was hit having a ban coming from Washington forbidding U.S. companies to supply the item with components in addition to technology after the item was found to have violated U.S. export restrictions.

“As a result of the Denial Order, the major operating activities of the Company have ceased,” ZTE said within the filing.

“As of right now, the Company maintains sufficient cash in addition to strictly adheres to its commercial obligations subject to compliance with laws in addition to regulations,” the item said.

the item said the item is actually actively communicating with the U.S. government “in order to facilitate the modification or reversal of the Denial Order by the U.S. government in addition to forge a positive outcome within the development of matters.”

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