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ZTE ( (HK:0763) ) just unveiled an announcement.
ZTE Corporation has announced its plans to apply internal funds for the subscription of wealth management products with a total amount not exceeding RMB20 billion in 2024 and RMB30 billion in 2025. These investments, characterized by high security and good liquidity, are part of the company’s strategy to manage its financial resources efficiently. The transactions, conducted with the Bank of Hangzhou, have been classified as discloseable under the Hong Kong Listing Rules, necessitating reporting and announcement requirements due to the aggregated transaction size exceeding the 5% threshold.
More about ZTE
ZTE Corporation is a major telecommunications equipment and systems company based in China. It primarily focuses on providing a wide range of telecommunications products and services, including wireless, exchange, access, optical transmission, and data telecommunications gear, as well as mobile phones. The company is known for its significant presence in the global telecommunications market.
YTD Price Performance: -13.50%
Average Trading Volume: 12,602
Technical Sentiment Signal: Hold
Current Market Cap: $19.45B
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