Recently, ZTE announced that in order to strengthen the R&D investment of ZTE Corporation, the company signed the “Loan Contract” and “Pledge Contract” on October 31, 2018 with the controlling shareholder of Zhongxing New Communication Co., Ltd.: The company will borrow no more than RMB 1 billion from Zhongxing New according to the demand for funds, and guarantee the equity of Shenzhen Zhongxing Microelectronics Technology Co., Ltd. held by the company as the pledge.
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