On the 53rd day of ZTE’s US-restarted sanctions, on the evening of June 7, Beijing time, the official website of the US Department of Commerce finally released a message saying that it agreed to adopt strict additional penalties and compliance measures to replace the March 2017 settlement agreement. The US Department of Commerce's Bureau of Industry and Security (BIS) refused to order. The latest settlement conditions mainly include the following four points:

1. ZTE needs to pay another $1 billion in fines and pay another $400 million as a deposit.

2. ZTE accepts a team of special compliance coordinators selected by the US BIS, which has a service period of 10 years. They will monitor ZTE's compliance with US export control laws in real time.

3. ZTE needs to replace the board of directors and senior management.

4. Add a suspended refusal order again, this monitoring period is 10 years. If the violation is repeated within 10 years, BIS can continue to initiate the rejection order.

Up to now, ZTE has not officially confirmed and announced relevant matters. However, on the evening of June 7, ZTE issued an internal letter to all employees. The internal letter first apologized, saying that “the activation of this refusal has caused huge losses to the company. The company has paid a painful price for this. On behalf of the company’s board of directors and management, I apologize to all employees, customers, shareholders and partners.”

The letter pointed out that the occurrence of this incident, from the conclusion of the current internal and external investigations, the direct cause is caused by the negligence of a few cadres and employees, but we must profoundly realize that its substance reflects the company's cooperation. There are problems with the culture and management of the regulations. We must organize the majority of cadres and employees to reflect on the incident, learn lessons, and earnestly account for it to prevent similar situations from happening in the future.

The letter finally stated that the current situation of the company is still extremely difficult, and there are still many difficulties to overcome. In the process of implementing the settlement agreement, there is still a lot of hard work to be completed. Everyone must do it: stick to the post, not be influenced by rumors; painstakingly think, stick to the bottom line of compliance; unswervingly satisfy the customer's needs and reward the customer's support with practical actions. I hope that everyone will continue to carry forward the spirit of hard work and innovation, and go all out for the company's business as soon as possible.

The following are the main contents of ZTE's internal letter:

It took 53 days since the incident occurred on April 16, 2108. In these 53 days and nights, the company's 80,000 employees around the world unite their thoughts, unite and stick to their posts, fully embodying their strength and responsibility, and embodying the spirit of reverence and courage in the face of difficulties. In this special period, everyone throws away all distractions, throws away all the considerations, do their best to support the company, and face the crisis with the company, no regrets. Here, I would like to express my sincere gratitude to the 80,000 employees for their persistence and their family's contribution. You are the company's most valuable asset, and the company is proud of you!

The activation of this refusal caused huge losses to the company. The company paid a painful price for this. On behalf of the company's board of directors and management, I apologize to all employees, customers, shareholders and partners.

The occurrence of this incident, from the conclusion of the current internal and external investigations, is directly caused by the work mistakes of a few cadres and employees, but we must profoundly realize that its essence reflects the company's compliance culture and management. There is a problem. We must organize the majority of cadres and employees to reflect on the incident, learn lessons, and earnestly account for it to prevent similar situations from happening in the future.

After the refusal order is lifted, the company will quickly resume normal operations, adhere to credit, practice its responsibilities to relevant parties, continue to strengthen research and development, continue to innovate, and condense the strength of all employees to make efforts for the development of the global information and communication industry.

At present, the company's situation is still extremely difficult. There are still many difficulties to overcome. In the process of implementing the settlement agreement, there is still a lot of hard work to be completed. Everyone must do it: stick to the post, not be influenced by rumors; painstakingly think, stick to the bottom line of compliance; unswervingly satisfy the customer's needs and reward the customer's support with practical actions. I hope that everyone will continue to carry forward the spirit of hard work and innovation, and go all out for the company's business as soon as possible.

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