Announcement on Proposed Guarantee Quotas for Subsidiaries in 2026
The Company and its Board of Directors guarantee the truthfulness, accuracy, and completeness of the information disclosed herein, and do not contain any false or misleading statements or material omissions.
ZTE Corporation (hereinafter referred to as the "Company" or "ZTE") held the 21st meeting of the 10th Board of Directors on March 6, 2026. The meeting deliberated and approved the proposed guarantee quotas for the Company and its subsidiaries in 2026, totaling not more than USD 1.93 billion, accounting for 17.89% of the audited net assets attributable to ordinary shareholders of the listed company as of December 31, 2025.
In accordance with the "Supervisory Guidelines for Listed Companies No. 8 – Supervision Requirements for Capital Transactions and External Guarantees of Listed Companies," "Shenzhen Stock Exchange Listed Company Self-Regulatory Management Guidelines No. 1 – Standardized Operation of Main Board Listed Companies," and other relevant regulatory documents, as well as the "Articles of Association of ZTE Corporation," certain matters regarding the guarantee quotas provided by the Company and its subsidiaries for their subsidiaries need to be submitted to the Company's shareholders' meeting for deliberation. The details are as follows:
1. Overview of Guarantees
(1) Guarantees Provided by the Company for its Subsidiaries
1. Sales Business Guarantees
To ensure the smooth development of the Company's sales business, the Company proposes to provide guarantee quotas totaling not more than USD 600 million for 7 subsidiaries in 2026. The specific details are as follows:
① Subsidiaries and Guarantee Quotas
| Guarantor Name | Name of Person Guaranteed | Guarantee Quota (USD Billion) |
|---|---|---|
| ZTE Corporation | PT. ZTE INDONESIA | 0.8 |
| ZTE Telecom (Thailand) Co., Ltd. | 0.5 | |
| CORPORACION ZTE DE CHILE S.A | 0.7 | |
| INTELLIBRIGHT INTERCONNECT LIMITED | 2.0 | |
| ZTE (H.K.) Limited | 0.5 | |
| GEE WIN TECH LIMITED | 0.5 | |
| Shenzhen ZTE Technology Services Co., Ltd. | 1.0 |
Within the above projected guarantee quotas, the quotas among the guaranteed persons can be adjusted.
② Validity Period of Quotas: The above guarantee quotas are for revolving use and are valid from the date of approval by the Company's shareholders' meeting until the date of the next annual shareholders' meeting. If there are unused quotas upon expiration, they will be forfeited.
③ Delegation of Authority: To improve decision-making efficiency, within the scope and validity period of the quotas, the Board of Directors proposes that the shareholders' meeting authorize the Board of Directors to make decisions on specific guarantee matters. Upon receiving authorization from the shareholders' meeting, the Board of Directors will delegate this authority to the Company's management for decision-making and timely disclosure upon occurrence of a guarantee.
2. Procurement Business Guarantees
(1) Guarantees for Nüwa Technology Procurement
Nüwa Technology Co., Ltd. (hereinafter referred to as "Nüwa Technology"), a subsidiary of the Company, intends to procure from suppliers. To ensure payment obligations during the procurement process, suppliers require guarantees from the parent company. The Company proposes to provide guarantees for Nüwa Technology's procurement business, with a quota not exceeding USD 200 million.
① Guarantor: ZTE Corporation ② Person Guaranteed: Nüwa Technology Co., Ltd. ③ Guarantee Quota: Not exceeding USD 200 million ④ Guarantee Period: From the effective date of the guarantee letter until Nüwa Technology terminates procurement from suppliers and has no outstanding debts. ⑤ Validity Period of Quota: One year from the date of approval by the Company's Board of Directors. ⑥ Type of Guarantee: Joint and several liability guarantee. ⑦ Counter-guarantee: Nüwa Technology is a wholly-owned subsidiary of ZTE. No counter-guarantee is provided for this guarantee, and the guarantee risk is controllable.