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ZTE ( (HK:0763) ) just unveiled an update.
ZTE Corporation announced a discloseable transaction involving the subscription for wealth management products. The company authorized the use of internal funds up to RMB20 billion for this purpose, aiming for high security and liquidity with low to medium risk. From October 2024 to February 2025, ZTE subscribed to eight Bank of Hangzhou wealth management products totaling RMB9,737 million. These transactions were aggregated with previous subscriptions and exceeded the 5% threshold under Hong Kong Listing Rules, necessitating disclosure. The strategic move is designed to enhance fund utilization efficiency and achieve investment gains without impacting daily operations.
More about ZTE
ZTE Corporation is a joint stock limited company based in the People’s Republic of China, primarily engaged in the telecommunications industry. The company focuses on providing a wide range of technology products and services, including network solutions, consumer electronics, and enterprise IT solutions, with a significant market presence in both domestic and international sectors.
YTD Price Performance: 13.64%
Average Trading Volume: 11,097
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $26.57B
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