Zhong Guo Zheng Quan Bao - Zhong Zheng Wang·2025-12-24 06:18Core Viewpoint - ZTE Corporation's board of directors approved two related party transactions for 2026, involving procurement of raw materials from affiliated companies with a total estimated transaction amount of RMB 34 billion [2][4][9]. Group 1: Board Meeting and Resolutions - The 18th meeting of the 10th board of directors was held on December 23, 2025, via telecommunication, with all 9 directors participating [1]. - The board approved the procurement of raw materials from ZTE New Communications Co., Ltd. with a maximum cumulative transaction amount of RMB 400 million for 2026 [2]. - The board also approved the delegation of procurement to Shenzhen Shuzhi Port Technology Industry Co., Ltd. with a maximum cumulative transaction amount of RMB 3 billion for 2026 [4]. Group 2: Voting Results - The resolution for the procurement from ZTE New received 7 votes in favor, with 0 against and 0 abstentions [3]. - The resolution for the procurement from Shuzhi Port received 8 votes in favor, with 0 against and 0 abstentions [5]. Group 3: Related Party Transactions Overview - The total estimated transaction amount for raw materials procurement from ZTE New is RMB 400 million, while the amount for Shuzhi Port is RMB 3 billion for 2026 [9][10]. - The board's independent directors approved the related party transactions, which do not require shareholder approval [12]. Group 4: Related Party Information - ZTE New Communications Co., Ltd. is a major shareholder of ZTE Corporation, holding 20.09% of the total shares [17]. - Shenzhen Shuzhi Port Technology Industry Co., Ltd. is also identified as a related party due to its connection with ZTE Corporation [17]. Group 5: Transaction Terms and Conditions - The procurement prices from related parties are determined through fair negotiation and standard commercial terms [18]. - Payment for raw materials will be made within 210 days after the goods are accepted, using commercial acceptance bills [20].