Nearly two months after the suspension of trading, ZTE (000063) banned the event close to the dust, the company will pay a total of 1.4 billion US dollars civil penalty, the company's A shares and H shares will resume trading on June 13. ZTE announced on the evening of June 12 that the company and its wholly-owned subsidiary ZTE Kangxun had reached an "alternative settlement agreement" with the US Department of Commerce's Bureau of Industry and Security (hereinafter referred to as "BIS") to replace ZTE in 2017. The settlement agreement reached with BIS in the month. BIS has passed the "Alternative Order on ZTE" on June 8 (US time), and the approval agreement takes effect immediately. Under the replacement agreement, ZTE will pay a total of $1.4 billion in civil penalties, including a one-time payment of $1 billion within 60 days after BIS issued the order of June 8, 2018, and after BIS issued the June 8, 2018 order. Within 90 days, an additional US$400 million fine will be paid to the Bank of America's escrow account selected by ZTE and approved by BIS and suspended during the monitoring period. After the above civil penalty payment, BIS will terminate its refusal order activated on April 15, 2018 (US time) and remove ZTE from the List of Prohibited Exporters. This means that the ZTE crisis, which lasted for nearly two months, is expected to be lifted. The replacement agreement also includes a number of other provisions, including a new refusal order issued by BIS for a period of ten years; ZTE needs to replace all board members of the listed company and ZTE Kangxun; and the management or senior staff responsible for the matter Dismiss the contract; provide export control training for management and employees, etc., as follows: 1. BIS will make a new refusal order for a period of ten years (hereinafter referred to as the “Monitoring Periodâ€) from the issuance of the order of June 8, 2018, including restrictions and prohibition of ZTE's application, acquisition, or use of any license or license. Exceptions, or export control documents, and in any way engage in any transaction involving any item, software, or technology subject to the US Export Administration Regulations, provided that ZTE complies with the agreement and the order of June 8, 2018 The new refusal order will be suspended during the monitoring period and will be waived after the expiration of the monitoring period. 2. ZTE will replace all board members of the listed company and ZTE Kangxun within 30 days after BIS issues the order of June 8, 2018. 3. ZTE will be issued with the listed company and the current senior vice president of ZTE Kangxun and all the above senior leaders within 30 days after the BIS issued the order of June 8, 2018, and any participating and supervising BIS issued in March 2017. The proposed letter of allegation or the management or senior staff member who refused to order the act or other responsibility for the act in question was terminated on April 15, 2018, and ZTE and its subsidiaries or affiliates were prohibited from rehiring the above personnel. . At the same time, ZTE should inform BIS of the implementation of this clause in a timely manner, and BIS can discretion whether to exempt the relevant personnel. 4. ZTE will hire any independent special compliance coordinator at its own expense within 30 days after BIS issues the order of June 8, 2018. The coordinator will be responsible for coordinating, monitoring, evaluating and reporting to ZTE and its global subsidiaries or affiliates. During the monitoring period, the 1979 US Export Administration Act, regulations, agreements, and orders of June 8, 2018 were complied with, and the ZTE CEO and the board of directors and BIS were reported equally. 5. ZTE will complete and submit nine audit reports complying with US export control laws. After the expiration of the term of the independent compliance officer established under the agreement between the company and the US Department of Justice and any relevant court order, the remaining six audits will expire. The report will be completed by the coordinator. 6. ZTE will provide a wide range of applicable export control training for its leaders, management and employees, global subsidiaries, affiliates and other entities controlled and controlled by ZTE. With the completion of this settlement agreement, ZTE will resume its business activities affected by the April 15, 2018 refusal order. The company said it will fully evaluate the April 15, 2018 refusal order and agreement for the first quarterly report of 2018. The impact of the reorganization and disclosure of the first quarterly report of 2018. In addition, at least 40 public fund companies have previously lowered the valuation of ZTE. At the end of last month, Mingsheng Company (MSCI) issued a temporary announcement, and ZTE was adjusted to the MSCI list. Led Digital Kitchen Alarm Clock,Kitchen Timer,Digital Timer For Kitchen,Cooking Alarm Timer Chengdu Augus Science Technology Co., Ltd. , https://www.vluckyaugus.com
ZTE Corporation resumes trading with the United States today to reach an alternative settlement agreement
Abstract After nearly two months of suspension, ZTE (000063) banned the event and the dust settled. The company will pay a total of 1.4 billion US dollars in civil penalties. The company's A shares and H shares will resume trading on June 13. ZTE announced on the evening of June 12 that the company and its wholly-owned subsidiaries are in...