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MarketScreener Homepage  >  Equities  >  SHENZHEN STOCK EXCHANGE  >  ZTE Corporation    000063   CNE000000TK5

ZTE CORPORATION

(000063)
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End-of-day quote. End-of-day quote SHENZHEN STOCK EXCHANGE - 03/01
32.07 CNY   +0.98%
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ZTE : Announcement on the Resignation of Directors

06/29/2018 | 09:39am EST

Hong Kong Exchanges and Clearing Limited and The Stock Exchange of Hong Kong Limited take no responsibility for the contents of this announcement, make no representation as to its accuracy or completeness and expressly disclaim any liability whatsoever for any loss howsoever arising from or in reliance upon the whole or any part of the contents of this announcement.

ZTE CORPORATION 中興通訊股份有限公司

(A joint stock limited company incorporated in the People's Republic of China with limited liability)

(Stock Code: 763)

Announcement on the Resignation of Directors

The Company and all the members of the Board of Directors confirm that all the information contained in this announcement is true, accurate and complete and that there is no false or misleading statement or material omission in this announcement.

Reference is made to the announcements of "(1) Proposed Amendment of the Articles of Association and the Rules of Procedure of the Board of Directors Meetings (2) Proposed Election and Appointment of Non-independent Directors and (3) Proposed Election and Appointment of Independent Non-executive Directors" published by ZTE Corporation (the "Company") on 13 June 2018.

On 29 June 2018, 14 Directors, namely, Messrs. Yin Yimin, Zhang Jianheng, Luan Jubao, Zhao Xianming, Wang Yawen, Tian Dongfang, Zhan Yichao, Wei Zaisheng, Zhai Weidong, Richard Xike Zhang, Chen Shaohua, LüHongbing, Bingsheng Teng and Zhu Wuxiang, tendered their Resignation Reports in writing. As 8 new Directors had been elected at the 2017 Annual General Meeting of the Company, the 14 former members of the Board of Directors unanimously agreed to resign from the position of Directors and the duties of each specialist committee under the Board of Directors of the Company with immediate effect.

The 14 Directors tendering their resignations have unanimously confirmed that there has been no disagreement with the Board of Directors of the Company and there are no other matters that require to be brought to the attention of the shareholders of the Company. Pursuant to pertinent provisions of the Company Law of the People's Republic of China and the Articles of Association of ZTE Corporation, the Resignation Reports have come into effect.

By Order of the Board

Li Zixue Chairman

Shenzhen, the PRC 29 June 2018

As at the date of this announcement, the Board of Directors of the Company comprises two executive directors, Li Zixue, Gu Junying; three non-executive directors, Li Buqing, Zhu Weimin, Fang Rong; and three independent non-executive directors, Cai Manli, Yuming Bao, Gordon Ng.

Disclaimer

ZTE Corporation published this content on 29 June 2018 and is solely responsible for the information contained herein. Distributed by Public, unedited and unaltered, on 29 June 2018 13:38:01 UTC


© Publicnow 2018
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Financials
Sales 2020 103 B 15 911 M 15 911 M
Net income 2020 4 758 M 736 M 736 M
Net Debt 2020 716 M 111 M 111 M
P/E ratio 2020 31,1x
Yield 2020 0,71%
Capitalization 137 B 21 117 M 21 120 M
EV / Sales 2020 1,33x
EV / Sales 2021 1,07x
Nbr of Employees 70 066
Free-Float 71,4%
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Technical analysis trends ZTE CORPORATION
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TrendsBearishNeutralBearish
Income Statement Evolution
Consensus
Sell
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Mean consensus BUY
Number of Analysts 19
Average target price 40,53 CNY
Last Close Price 32,07 CNY
Spread / Highest target 54,3%
Spread / Average Target 26,4%
Spread / Lowest Target -9,88%
EPS Revisions
Managers and Directors
NameTitle
Zi Yang Xu President, CEO & Executive Director
Li Ying Chief Financial Officer & Executive Vice President
Da Xiong Xie Chairman-Supervisory Board
Zi Xue Li Chairman
Man Li Cai Independent Non-Executive Director
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