ZTE announces its major operating activities have ceased

The impact of the US denial order preventing ZTE from doing business with any US companies has been made brutally clear in a ZTE investor filing.
“As disclosed in the announcement of the Company dated 20 April 2018, BIS has issued an order for the activation of a denial order (the “Denial Order”),” said the filing. “As a result of the Denial Order, the major operating activities of the Company have ceased.
“As of now, the Company maintains sufficient cash and