ZTE: Reduction of National Technology Shares by 5,576,600 Shares, 2.05%

After this reduction, ZTE Corporation still holds 48.2234 million shares of National Technology Shares, accounting for 17.95% of the total national technology shares.

On the evening of May 30th, ZTE Corporation (000063.SZ) announced that from May 24 to May 27, 2011, the company sold a total of 5,576,600 shares of National Technology (300,077.SZ) shares, accounting for the total share capital of national technology. 2.05%.

ZTE Corporation stated that it was approved at the 19th meeting of the 5th Board of Directors of the company and agreed that the company would choose to sell the national technology shares. The company originally held 54.4 million shares of National Technology (after the implementation of the National Technology 2010 profit distribution and capital reserve fund transfer plan), accounting for 20% of the total share capital of national technology.

Among them, 76,600 shares were sold through the Shenzhen Stock Exchange's competitive trading system, and the average selling price was 28.52 yuan per share; 550 million shares were sold through the block trading system and the average selling price was 26.94 yuan per share.

It is expected that the net income before investment income after deduction of costs and related transaction taxes will be approximately RMB95 million, accounting for 2.92% of the company's latest audited net profit.

After this reduction, ZTE Corporation still holds 48.2234 million shares of National Technology Shares, accounting for 17.95% of the total national technology shares, all of which are tradable shares with unlimited sales conditions.

Previously, ZTE's first-quarter earnings report for 2011 showed that in the first quarter, ZTE's revenue was 15.085 billion yuan, a year-on-year increase of 13.80%, and its net profit was 127 million yuan, a year-on-year increase of 15.86%. The overall gross profit rate was 33.66%.