By South China Morning Post | Created at 2025-04-01 13:06:27 | Updated at 2025-04-02 18:12:42
1 day ago
Chinese telecommunications equipment giant ZTE Corp has named veteran industry executive Fang Rong as its new chairman, succeeding Li Zixue, as the Shenzhen-based firm sharpens its focus on artificial intelligence (AI) amid declining revenue in its core carrier network business.
ZTE, which is listed in Hong Kong and Shenzhen, on Monday announced Fang’s appointment, as Xu Ziyang continues to serve as the company’s chief executive.
Executive vice-presidents Wang Xiyu, Li Ying and Xie Junshi will oversee research and development, finance and accounting, and operations management and sales, respectively.
“The world is undergoing an AI-driven industrial revolution,” Fang said in a statement. She pointed out that the company is transforming into a “connectivity plus computing” enterprise.
ZTE’s shares in Hong Kong closed up 1.89 per cent to HK$24.30 on Tuesday. In Shenzhen, the company’s shares closed at 34.44 yuan.
Fang’s ascension at ZTE, which closely competes in China’s telecoms equipment market against crosstown rival Huawei Technologies, reflects the company’s efforts to revive its fortunes in 2025 via its AI strategy.
