ZTE should have passed the most dangerous moment, at least not to suffer such severe punishment. According to Reuters, ZTE has signed an agreement to revoke the US Department of Commerce's procurement ban, allowing the telecommunications equipment manufacturer to resume its procurement operations with US suppliers. Regarding the details of the settlement, it is reported that the preliminary agreement includes the US to issue a fine of 1 billion US dollars to ZTE for the incident and another 400 million US dollars temporarily reserved by third parties to prevent future violations. In addition, the agreement also includes that ZTE is subject to review at all times to ensure that parts supplied by US companies are used in the manner claimed by the company, and that the use of US parts in the company's products is published on the public website within 30 days. Adjust its board of directors and executive team. Previously, ZTE’s latest announcement was basically the same as the May 30 announcement, and it did not disclose any progress made by the US government’s “refusal orderâ€. The announcement only stated that the company is taking action against the relevant parties for the “rejection order†and the A shares continue to be suspended. Domestic media quoted Reuters as saying that ZTE had signed an agreement with the US government to resume procurement with US component suppliers. According to Reuters, the preliminary agreement includes the US to issue a fine of 1 billion US dollars to ZTE for the incident and another 400 million US dollars temporarily reserved by third parties to prevent future violations. The content of the agreement is basically consistent with Reuters' report on Friday. In addition, the US Department of Commerce plans to revise the settlement reached last year, and to pay ZTE's $361 million as part of the settlement. Therefore, ZTE needs to pay a total of about $1.7 billion in fines to the United States. The news also said that ZTE signed an agreement drafted by the United States last weekend, but did not sign the revised settlement reached last year. The agreement also includes that ZTE is subject to review at all times to ensure that parts supplied by US companies are used in the manner claimed by the company, on the public website, to disclose the use of US parts in the company's products, and to adjust it within 30 days. Board of Directors and executive team. According to the previous US President Trump’s speech on Twitter, ZTE wants to reconcile and needs to meet four requirements: 1. ZTE will be forced to completely replace management and the board of directors. 2. A higher security commitment will be made. 3. It is also necessary to increase the procurement of US parts. 4. Pay a fine of $1.3 billion. In addition, Bloomberg quoted a person familiar with the matter as saying that Tian Dongfang, a non-executive director of ZTE, has been appointed as party secretary of ZTE. Tian Dongfang was also the director of Xi'an Microelectronics Technology Research Institute (771), and Hou Weigui was also born in 771. The institute is affiliated to the Ninth Research Institute of China Aerospace Science and Technology Corporation. According to public information, Tian Dongfang, male, was born in 1960. In 1982, he graduated from the Chengdu Institute of Telecommunications Engineering with a solid device and has a researcher title. From August 1982 to September 2014, he served as director, deputy director, executive deputy director, director and other directors of Xi'an Institute of Microelectronics Technology (771); (Note: Former Chairman of ZTE Hou Weigui also came from 771 The Institute is affiliated to the Ninth Research Institute of China Aerospace Science and Technology Corporation.) Since September 2014, he has been the chief economist of China Aerospace Electronics Technology Research Institute and the director of Xi'an Microelectronics Technology Research Institute. Since November 2015, he has been the director of ZTE Corporation. Executive Director with extensive management and operational experience. People familiar with the matter said that Fan Qingfeng was removed from the post of party secretary of ZTE. According to ZTE's official website, ZTE's board of directors includes two executive directors: Yin Yimin and Zhao Xianming; 7 non-executive directors: Zhang Jianheng, Wang Yawen, Tian Dongfang, Zhan Yichao, Yu Jubao, Wei Zaisheng, Yan Weidong; and 5 independent non-executive directors: Chen Shaohua, Lu Hongbing, Zhang Wei, Bingsheng Teng (Teng Binsheng), Zhu Wuxiang. Tencent Geely won the bid for the EMU WiFi project On June 6, Tencent and Zhejiang Geely Holding Group Co., Ltd. (hereinafter referred to as “Geely Holdingsâ€) jointly announced that the consortium formed by the two parties successfully won the bid for the 49% equity transfer project of China Mobile Train Network Technology Co., Ltd. (hereinafter referred to as “Motor Vehicle Networkâ€). In the future, it will jointly operate railway value-added services with China Railway Corporation (hereinafter referred to as “China Railway Corporationâ€) and related companies. The EMU network was established on December 20, 2017. It is the only company among the subordinate enterprises identified by China Railway Corporation to operate E-Wi-Fi. As of 2017, China's high-speed rail mileage has reached 25,000 kilometers, accounting for 66.3% of the world's total high-speed rail. EMUs transported 1.71 billion passengers a year, covering about 200 million people. After the railway bureaus completed the reform of the company system in 2017, the China Railway Corporation further implemented the central government's strategic requirements for railway reform and the development idea of ​​“Internet + Railwayâ€. For the first time, it transferred 49% of the shares of the train network through property rights transactions. The project has received wide attention from the whole society since its listing. The combination of Tencent and Geely Holding has stood out from many bidders with its leading experience in Internet business, smart travel and mixed management of central enterprises. In the future, the two sides will work together with the railway department to fully integrate the railway network, the Internet and the land, air and water transportation network by using the Internet product concept and tools, so that every passenger can enjoy one-stop smart travel and travel, and finally the high-speed rail. Travel to create a representative national business card. Ma Huateng, chairman and CEO of Tencent, said that digital China construction is an era of change and opportunity. Tencent hopes to become a digital assistant and carry forward the "Digital Craftsman Spirit" to help digital transformation and upgrading in all walks of life. Participating in the 49% equity transfer project of the train network is another important attempt of Tencent in the field of mixed reform of state-owned enterprises, and is also an important layout for the development of smart transportation business. Together with Geely Holding, we will build an open cooperation platform for railway Internet services with the railway department to provide passengers with one-stop travel services integrating station and bus, online and offline. Li Shufu, Chairman of Geely Holding, said that as an automotive technology company that is constantly advancing the development of cutting-edge technology, Geely Holdings has accumulated rich experience in the field of transportation, intelligent ecology and user experience. Participating in the operation of the “Internet + High Speed ​​Rail†project is Geely Holding. Supporting a practical exploration of the mixed reform of the railway sector is also an important step for Geely Holding's future travel and transformation. In the tide of deepening reform, we will join hands with Tencent to provide passengers with intelligent and mobile travel services that are highly integrated online and offline to meet the individualized and diversified needs of passengers. After the launch of the products of the train network, in addition to providing passengers with high-quality E-group Wi-Fi access experience, it will further expand the value-added services such as leisure culture and entertainment, content information, business travel, specialty shopping, and joint travel. Railway members are connectors to further expand the service of large living circles to meet the growing needs of ordinary people. Tencent's “Digital Assistant†has played an important role in the digital transformation and upgrading of all walks of life. For the future development of the train network, Tencent as an investor will invest in connectivity, content, security, cloud computing, big data, artificial intelligence technology and other advantages. Resources, together with Geely Holding to realize the vision of the first brand of global integrated travel operation services, jointly promote the construction of intelligent high-speed rail for passengers. 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