ZTE announced on the evening of October 31 that in order to strengthen the company’s product research and development investment, the company signed a “loan contract” and a “pledge contract” with the controlling shareholder Zhongxingxin on October 31, and the company borrowed no more than 1 billion yuan from Zhongxingxin. And the company’s shareholding in ZTE Microelectronics as a pledge to provide guarantee. The transaction was reviewed and approved at the 41st meeting of the 7th Board of Directors held on October 31. At present, Zhongxingxin holds 1.272 billion shares of the company, accounting for 30.34% of the company’s total share capital.
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Post time: Nov-02-2018