ZTE (HK:0763) has released an update.
ZTE Corporation has been authorized to invest up to RMB20 billion in low to medium risk wealth management products from financial institutions in 2024, following approvals at its board and annual general meetings. During a specific period in 2024, the company and its subsidiary ZTE Kangxun subscribed to wealth management products from Guangfa Bank and Bank of Hangzhou for a total of RMB13.1 billion, which are considered discloseable transactions under Hong Kong Listing Rules due to their aggregated percentage ratios.
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