ZTE Corporation (00763) plans to use its own funds to repurchase 1 to 1.2 billion yuan worth of the company's A shares.

ZTE Corporation (00763) announced that the company plans to use its own funds to repurchase company A shares through centralized bidding trading (hereinafter referred to as "this repurchase"), for the implementation of the company's employee stock ownership plan or equity incentive. The total amount of funds for this repurchase is not less than RMB 1 billion and not more than RMB 1.2 billion (including both amounts). Based on the calculated repurchase fund limit of RMB 1.2 billion and the maximum repurchase price of RMB 63.09 per share, the number of A shares to be repurchased by the company in this repurchase is approximately 19.02 million shares, accounting for about 0.40% of the company's current total share capital. The specific number of repurchased shares shall be based on the actual number of shares repurchased at the end of the repurchase period. The repurchase period for this repurchase shall be within 12 months from the date when the Board of Directors approves this repurchase plan.