ZTE Announces RMB 2.4 Billion Proposed Funding in Subsidiary by New Investor
ZTE Corporation (0763.HK / 000063.SZ), a major international provider of telecommunications, enterprise and consumer technology solutions for the Mobile Internet, announced that its ZTE Microelectronics Technology Company Ltd. subsidiary had agreed to a proposed RMB 2.4 billion (USD 376 million) investment by National Integrated Circuit Industry Investment Fund Corporation.
Under the agreement, National Integrated Circuit Industry Investment Fund will acquire 24% of the enlarged shareholding of ZTE Microelectronics. The new investment will enhance ZTE Microelectronics’ research and development capabilities, and strengthen its offerings in advanced semiconductor technologies, as well as broaden its marketing and distribution channels in China and in international markets.
ZTE Microelectronics focuses on the development of semiconductor technologies for applications including telecommunications, mobile devices, Big Data, cloud computing, Internet of Things and wearables. With more than 2,000 R&D employees in offices in China and the United States, ZTE Microelectronics is currently developing products with 28 nanometer technologies, and has R&D capabilities for 16 nanometer and 14 nanometer technologies.
Chipsets developed by ZTE Microelectronics are currently deployed commercially in base stations to support multi-frequency band wireless access, as well as optical networking units (ONUs). In addition, ZTE Microelectronics also develops products used in smartphones and mobile devices shipped in markets including China, Brazil, Indonesia and Russia, supporting LTE-Advanced standards and multimode operations.
In 2014, ZTE Microelectronics increased its net profit by 258% to RMB 458.6 million, with revenue growing to RMB 3.06 billion.
National Integrated Circuit Industry Investment Fund, with shareholders including China’s Ministry of Finance, China Development Bank and China Mobile Communications Corporation, has investments in developers of semiconductor technologies, an area of national strategic interest to the Chinese government.
ZTE is a provider of advanced telecommunications systems, mobile devices, and enterprise technology solutions to consumers, carriers, companies and public sector customers. As part of ZTE’s M-ICT strategy, the company is committed to provide customers with integrated end-to-end innovations to deliver excellence and value as the telecommunications and information technology sectors converge. Listed in the stock exchanges of Hong Kong and Shenzhen (H share stock code: 0763.HK / A share stock code: 000063.SZ), ZTE’s products and services are sold to over 500 operators in more than 160 countries. ZTE commits 10 per cent of its annual revenue to research and development and has leadership roles in international standard-setting organizations. ZTE is committed to corporate social responsibility and is a member of the UN Global Compact. For more information, please visit www.zte.com.cn .
ZTE Microelectronics Technology had agreed to a $376 million investment by a national industry investment fund.
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