The application for the initial public offering by Shenzhen Jufei Optoelectronics Co., Ltd., an indirect subsidiary of ZTE Corporation (00763.HK), was approved by the GEM Board Issue Approval Committee under the China Securities Regulatory Commission (CSRC) on 13 December 2011, ZTE said.

By injecting capital of RMB15.3 million, ZTE becomes the controlling shareholder of Shenzhen Changfei Investment Company Limited with 51% shareholding. Shenzhen Changfei Investment is interested in 12.87 million shares of the Shenzhen Jufei Optoelectronics, representing 21.62% of the total share capital of the Shenzhen Jufei Optoelectronics before the offering.