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 (US$3.12) on Tuesday. In Shenzhen, the company’s shares closed at 34.44 yuan (US$4.75).
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.