Caixing: ZTE Seeks to Cash Out of Shenzhen Property Project

ZTE reached a new agreement with property developer China Vanke Co. Ltd. regarding its Shenzhen Bay Super Headquarters Base project. According to Caixing, a Chinese business journal, ZTE has granted more operational rights to Vanke in exchange for 3.54 billion yuan (US $510 million), which is the amount that ZTE paid in 2017 to acquire the land.

https://www.caixinglobal.com/2019-07-13/zte-seeks-to-cash-out-of-shenzhen-property-project-101439242.html