ZTE announces CNY 11.1bn investment in wealth management products

ZTE Corporation (SZSE:000063) has announced it further subscribed to nine Hangzhou Bank wealth management products for a total consideration of $CNY 11.12 billion between February 28 and April 30, 2025. The subscriptions are deemed a discloseable transaction under Hong Kong Listing Rules, as similar transactions with the same counterparty within a 12-month period exceed applicable percentage ratios. The underlying assets are characterized as principal-protected, floating-rate products, offering an expected annual rate of return ranging from 0.8% to 2.66%, depending on market conditions. The company says the investments will improve the efficiency of the use of its own funds. As of the date of the announcement, ZTE's cumulative subscriptions of wealth management products of Hangzhou Bank totaled $CNY 27.849 billion.