ZTE (SHE:000063, HKG:0763) subscribed for nine wealth management products worth 6.10 billion yuan with China Guangfa Bank, according to a Monday disclosure with the Hong Kong Stock Exchange.
The wealth management products were subscribed between May 9 and Sept. 9. The term of the products ranges from 87 days to 109 days, the filing said.
The Chinese telecommunications company's subsidiary, ZTE Kangxun Telecom, also subscribed for six wealth management products worth 7 billion yuan from Bank of Hangzhou (SHA:600926). The range of the products' terms is between 11 days and 25 days.
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